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Ground Rent increases. Help needed!
Comments
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Just to clarify as well, I have no problem with the GR going up in line with inflation, if the solicitor confirms that then I would expect we'll sign up.
I think we've just been spooked by a couple of scare stories in the media, if you Google itv ground rent you will see the clip from Fridays news (sorry, I can't post links yet)0 -
You need to check with the solicitor what the base value is, but my expectation would be that the base value is when bought, so the ground rent is just recalculated every 10 years to increase in line with inflation. This actually means that on average your ground rent is 5 years behind inflation.
Even £600 is only £50 per month, and if your finances hinge on £50 per month it's a pretty big risk, but otherwise it's not likely to be a killer.0
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