Cap on ground rents will benefit more than 500,000 homeowners across London and the South

Millions of leaseholders across England and Wales stand to benefit from an overhaul of the leasehold system, with ground rents set to be capped at £250 a year.

The shake-up will see many leaseholders save more than £4,000 over the course of their lease, with more than five million leaseholders and future homeowners benefiting from stronger control, powers and protections, the Government said.