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Ground Rent Raising To £4,000???
Comments
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We have just purchased a flat with doubling ground rent every 25 years and it didn't bother us one jot. But we only plan on living there for 5 years before moving on to a larger place so maybe our situation is different to yours? The £4k is beyond even your life time so I wouldn't really fret about it. However a lease expiring IS within your lifetime, so do think carefully before you go for the 99 year lease!! Can you afford to renew it if you end up staying in the property?0
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We have just purchased a flat with doubling ground rent every 25 years and it didn't bother us one jot. But we only plan on living there for 5 years before moving on to a larger place so maybe our situation is different to yours? The £4k is beyond even your life time so I wouldn't really fret about it. However a lease expiring IS within your lifetime, so do think carefully before you go for the 99 year lease!! Can you afford to renew it if you end up staying in the property?
It might bother you if you cannot find a buyer or a mortgage lender willing on those terms"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
We have just purchased a flat with doubling ground rent every 25 years and it didn't bother us one jot. But we only plan on living there for 5 years before moving on to a larger place so maybe our situation is different to yours? The £4k is beyond even your life time so I wouldn't really fret about it. However a lease expiring IS within your lifetime, so do think carefully before you go for the 99 year lease!! Can you afford to renew it if you end up staying in the property?
The property with the shorter lease is cheaper and in much better condition so I have suffienct funds to extend the lease and will secure an assignment of the s.42 notice prior to completion.
My issue is the tenant. She's friends with the owner and he said she's wants a council property. I've told him that means she's not likely to leave till the bailiffs come as my understanding is that is the instruction Council's give. So I estimate another 2months wait after her notice expires.0
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