Hi All,
Apologies if this is in the wrong section, it was the closest I could find.
I have a leasehold property on a BTL, the leaseholder is Simarc and my ground rent to them is usually £270pa
However I was instructed recently by them, that the ground rent has gone up to £411pa, and not only that.... but for some reason that I cannot comprehend, it's actually £481 this year.
They say they'd sent physical correspondence of these price hikes to my residential address back in October 2020, but I had moved by then so would've never been in receipt of them. Though sounds like I would've had no chance to challenge it anyway even If I had received the correspondence.
Naturally on seeing the price raise by 50% I started looking around online to see what my options were and how (if at all) shady they're being.
I came across lots of literature online regarding new rights being given to extend leases etc and abolishing ground rents for lots of people.
Obviously interested in what my options are but ahead of contacting a solicitor I thought it prudent to ask on here to see if anyone had experienced similar or in a position to comment and give some informal guidance with regards to next steps.
Some of the literature I found online regarding reforms and changes
https://www.gov.uk/government/news/g...O3KKIAUNKwjJak
https://www.moneysavingexpert.com/ne...ders-to-buy-t/
thanks so much
G
Apologies if this is in the wrong section, it was the closest I could find.
I have a leasehold property on a BTL, the leaseholder is Simarc and my ground rent to them is usually £270pa
However I was instructed recently by them, that the ground rent has gone up to £411pa, and not only that.... but for some reason that I cannot comprehend, it's actually £481 this year.
They say they'd sent physical correspondence of these price hikes to my residential address back in October 2020, but I had moved by then so would've never been in receipt of them. Though sounds like I would've had no chance to challenge it anyway even If I had received the correspondence.
Naturally on seeing the price raise by 50% I started looking around online to see what my options were and how (if at all) shady they're being.
I came across lots of literature online regarding new rights being given to extend leases etc and abolishing ground rents for lots of people.
Obviously interested in what my options are but ahead of contacting a solicitor I thought it prudent to ask on here to see if anyone had experienced similar or in a position to comment and give some informal guidance with regards to next steps.
Some of the literature I found online regarding reforms and changes
https://www.gov.uk/government/news/g...O3KKIAUNKwjJak
https://www.moneysavingexpert.com/ne...ders-to-buy-t/
thanks so much
G
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