Service charge on modern flats and upcoming leasehold reforms

[Roger carter]

Hi everyone,

You might be able to give me an advice with this.
i am interesting in buying a fairly new build but the estate agent has come back with the service charge much higher than what was originally said and a fairly high ground rent (even thought not doubling in ten years )...

[Sarahkay]

Hi All,

I am after some advice / opinions from those that have experience in this area.

I am in the process of buying a property in a new-ish build. My aim is to hold onto it for 5-10years, live in it eventually and sell it on and make a profit. It was built in 2015. During...

[theta]

I received a section 42 notice for a statutory lease extension for a flat where I own the freehold. There are 87 years remaining on the lease, and ground rent review is every 10 years linked to RPI (next review 2027).
My appointed managing agent recommended a solicitor with experience on this,...

[ForumFirstTimer]

Hi All,

I'm just wondering what the Ground rent capitalisation rate should be. Is there a calculation or spreadsheet someone can point me in the direction of?

East London Flat (block of 2 in total)

Flat values are around £300k each

Remaining Length...

[marcosc92]

I currently live in a new build house which i have been in for almost 3 years. When i bought the house it was sold to us as leasehold.
I have read a lot in the news about the leasehold scandal which is going on about ground rents doubling every ten years causing leasehold house un-sellable....

[Lou123]

Hi,

First time on here and hoping someone can help.

Our ground rent has increased from £250 to £500 per annum. What will the impact be when we come to renew the lease? Does ground rent directly impact the calculation for determining the lease extension premium upon renewal?...

[Pergola]

Thanks for your help. I have tried searching the forum for answers but find the formulae confusing :/


I am considering buying a 250 year leasehold for £200,000. It has a ground rent that starts at £400 and doubles every 10 years for the next 30 years, after which it stays constant*....

[tom2017]

I'm interested in buying a new build flat whose ground rent is scaled every ten years by the same multiple that RPI has increased over the same time.

I've seen a few references to this scheme on this forum and around the web but I can't really tell what the general consensus is regarding...

[cliftongroup]

Good Afternoon,

We have recently just added some freehold ground rent to our property portfolio, the question that i have is, we currently have four leaseholders who have a long leasehold interest of 999 years. reading through the leases. they lease holders are supposed to keep up the...

[sash100]

I am a landlord and purchased a two bedroom flat in 2012. The Ground rent doubles every 10 years from 2011 as it is linked to RPI.

Clause states

Revised Rent = £250 * Latest Index Figure/Initial Index Figure

OR

the sum of the yearly rent...

[IndianDrifter]

Does a ground rent demand notice waiver the free holders right to forfeiture of a lease.

[hideyspidey]

A lease states payment of ground rent on 18th June, the neighbour is 27th November and the other neighbour is 6th december. I understand all the leases are different with the ground rent being payable on the anniversary of purchase for all. We are working with the council to cut admin costs and think...

[newbie_landlord]

Hi,

I am purchasing a flat in East London. It is a conversion flat (maisonette). The seller is also the freeholder. As part of the sale I am receiving a new 125 year lease.
I initially questioned the ground rent but not whether or not it was rising. When I received the lease I...

[newbie_landlord]

Hi,

I am currently buying a leasehold flat in London. My purchase price is 300,000 and is coming with a newly drawn up lease of 125 years. The seller is also the freeholder. The flat is a conversion flat (ie: a maisonette – a house divided into two flats where the house has two front...

[lukio_3]

Hi all, this is my first post, I have been an avid reader on the forums over the past few years (I became a landlord in 2012) but have never signed up, until now! Over the past few years I have bought 3 flats and taken one non-paying tenant to court, I am now onto lease issues... progressing through...