The clue is in the name

Spotted in a Moneyweek article about leaseholds, entitled “Money-for-nothing clauses will have to go”:

In 2016 the average ground rent for new-build properties was £371 and £327 for older properties….. Keep in mind that that this is a fee for which nothing is received in return.

Er, isn’t that why it’s called rent?

The article also produced a lot of wailing on behalf of poor homeowners who were too stupid or lazy to check just why their new house was quite so affordably priced. They must have thought the developers was doing it out of the kindness of their hearts.

“What is more concerning is that as many as 100,000 leaseholders will have signed agreements that wiull see their ground rent double every ten years,..”

Well more fool them, either they didn’t read what they were signing or they didn’t “do the math”.

Of course, once again, the government is expected to step in and protect people from their own cupidity.