Taylor wimpey - Freehold houses - Ground rent£?

calltobala

Dear Experts

I read recent headlines about taylor wimpey leasehold mis-sold not sure if it is also the case for Freehold property as well.

I am going for new build and reserved a Freehold property with Taylor wimpey.

On the reservation document:
It says Tenure Type: FREEHOLD

INITIAL Ground Rent: £0 Pa*

(* and increasing every 10 years throughout the term in line with RPI or an equivalent index)

After reading recent headlines about Taylor wimpey, I am wondering if this applies to FREEHOLD as well.

QUESTION:

Having sold as FREEHOLD and can they charge any rent or ground rent after 10th year onwards and I still don't know why * symbol and says initial ground rent.

It would be of great help if someone can point out please. I would like to see some light at the tunnel. Just found out before contract exchange

Thanks

[Deleted User]

Surely double nothing is nothing? But you are better off asking your solicitor who can see the contract.

calltobala

deannatrois wrote: »

Surely double nothing is nothing? But you are better off asking your solicitor who can see the contract.

Thanks for your reply.
i will ask solicitors. Why there is a catchy word called initial ground rent £0 pa*. Can they really charge rent after selling/reserving it as Freehold?

ashe

Your property may be free hold but there may be shared unadopted roads or grass areas? Just a guess

Mutton_Geoff

calltobala wrote: »

On the reservation document:
It says Tenure Type: FREEHOLD

INITIAL Ground Rent: £0 Pa*

(* and increasing every 10 years throughout the term in line with RPI or an equivalent index)

Because in the interest of cost saving and maximum profitability, Taylor Wimpey employ chimps to press options buttons on computers to generate their paperwork.


Leasehold properties attract ground rent payable to the freeholder but when they select "Freehold" in the option for your property, their software isn't clever enough to remove the ground rent field. This would have cost them £10 to implement an automatic null, but they didn't, so you are left with confusing statements in the documents you receive from them.


Your conveyancer will clarify that this is nothing to worry about. Bear in mind their construction, first and second fixes, bathrooms, kitchens and sanitaryware all went to the cheapest bidder.

calltobala

Thanks Geoff

I will check with both of them. I wonder why they used that catch word. I hope no ground rent charges after reserving as Freehold.

This is leading to confusion for buyers especially after reading news about them recently.

calltobala

deannatrois wrote: »

Surely double nothing is nothing? But you are better off asking your solicitor who can see the contract.

I asked solicitors by email about * clause for FREEHOLD.
They simply answered in 1 line as FREEHOLD and NO GROUND RENT PAYABLE.

I hope it means they cannot charge any ground rent after 10 years on FREEHOLD

mrschaucer

Why not ask your solicitor to remove or strike through that clause before you exchange as it clearly doesn't apply? You are employing a professional to look after your interests, which to my mind means tidying up the unprofessional, chimp-written garbage of a contract served up by the other side.