Leasehold property

smcqis

We bought a leasehold property, ground rent of 30 quid a year. Im not really sure how leasehold works, do we need to contact freeholder or will freeholder contact us when comes to payment for example

Werdnal

In our case, Freeholder bills us when ground rent is due. They should be notified as part of the sale procedure of your details anyway. Do you know when ground rent is due? It may have already been paid this year by the previous owner.

With our property (flat within a block of 8) Freeholder also arranges the building insurance, of which we pay 1 eighth, and there are also sometimes additional costs for repair/maintenance of communal areas, drains, guttering, roof etc. This may also apply to your property.

smcqis

ours is semi detached in a housing estate, the lease just covers things like preventing neighbours keeping chickens etc. As far as im aware its paid twice a year, i suppose when they want the money they will come looking for it

Pupnik

Yes, be sure that you don't go paying building insurance when the Freeholder is already paying for it- a lot of people in the country are paying twice as sometimes the payment for it comes from the maitenance so they do not realise they already have it.

The freeholder should bill you whenever there is ground rent due.

G_M

See here



Frequently Asked Questions

My landlord has not demanded ground rent. What should I do?

You are not liable to pay ground rent unless the landlord has demanded it using the prescribed form.

Richard_Webster

Your solicitor should have given the freeholder notice of the transfer to you and about your mortgage (so freeholder can chase mortgagee for money if you don't pay something he asks for).

If you solicitor hasn't given the notice then freeholder will write to previous owner who might get cross about that!

Also your solicitor should have told you who the freeholder is and given you an explanation of the terms of the lease that are likely to affect you,e.g. issues about insurance and, if a flat, and maintenance charges.