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new build off the plan but lease start from 2011!
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Got a reply from the solicitors. Apparently, the second option is the correct ! i.e what is from lease doc
Based on that does this sound fair ground rent model with newbuilds ?0 -
If you're meaning the table, then that actually sets the rent increase less than historic inflation where the value of currency halves roughly every 10 years.
Plus the fact that there's only 10-yearly increments rather than annual increments means the freeholder actually gets even less (in equivalent value). Obviously it means a big (relative) jump every 10 years, but this is known so should be able to be planned for.0 -
The ground rent is not unusual when it comes to a new build flat. In terms of extending the Lease, I cannot say for certain but it would be around a couple of thousand pounds, however we cannot give you valuation advice and if you are considering doing this then you would need to request a valuation. I’m afraid the developer will not agree to any amendments to the Contract and Lease as these are a standard form for all.0
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