Ground rent abolishment

Property Investment

Hi there.

Hoping someone can advise.

I'm in the middle of negotiating to purchase a leasehold flat in newly complete development. Completions only happened this year but there are still 3 left for sale.

What date applies to the new peppercorn ground rent under the 2022 reforms?

Is it when I exchange contracts (obviously this will be post 30th June 2022) or is it when the lease was 'registered', as I'm being told by the agent, which apparently was pre 30th June 2022?

To be clear, the agent and developer are saying ground rent still applies due to the fact the lease was registered before the 30th of June 2022.

Thanks,

Matt