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Ground + Service charge reviews in Lease
cmarchant85
Posts: 4 Newbie
Hi,
What are the expected ground and service charge reviews in a 99 year lease? The property I am buying is having its lease extended to 99 years by the current owner, our solicitor has reviewed the draft lease but questioned the review period. As it stands it will be reviewed every 5 years but our soliciotr has explained it should be every 25 years.
Does 25 years seem about right? just trying to judge the response we will get from the landlord.
Thanks in advance.
What are the expected ground and service charge reviews in a 99 year lease? The property I am buying is having its lease extended to 99 years by the current owner, our solicitor has reviewed the draft lease but questioned the review period. As it stands it will be reviewed every 5 years but our soliciotr has explained it should be every 25 years.
Does 25 years seem about right? just trying to judge the response we will get from the landlord.
Thanks in advance.
0
Comments
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Pass - my ground rent is fixed and never gets reviewed, service charges are reviewed every year to ensure that income matches expenditure plus some towards the reserve fund.0
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Anyone else with some advice!?0
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I don't think that there is any set time frame with reviews on ground rent service charges when extending lease.
Contact these people for information & advice. http://www.lease-advice.org/The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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