Ask The Experts

This is a simple option to increase your existing lease length by 90 years and reduce your ground rent to a ‘peppercorn’ (a token or nominal rent), on the assumption you are not subject to a “shared ownership” and have owned the property for a minimum of 2 years

The name comes from leases where the rent is one peppercorn a year. Other kinds of token or nominal rents, such as £1, or a red rose each year, may also be referred to as peppercorn rents. A peppercorn rent is often found where a premium has been paid for a lease.