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Deciphering a lease (shared ownership)
Comments
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Oh sorry so reveiw is apparently current rpi figure at the time but should be december.
Based that for 2017 review
£257.10
With Dec 2017 @ 4.1 and Dec 2016 @ 2.5 what would the increase be?
Similarily with 3.9 - 2.5 just to check my math correct here
thank you so much! 0 -
So that calculation should be December 2017 RPI and December 2016 RPI.0
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Problem is for £257 start point and
4.1 now 2.5 later im getting 1.6
£257.10/100 x1.6 = £4.11 so £261.21 divided by £257 so only £1.01p increase based on your £50 one i know i am doing something wrong. So so sorry to harras you
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I can see the issue, I seriously messed up the initial calculation. I was looking at the RPI increase index rather than the actual RPI index.
Therefore the index rate for December 2017 was 278.1 and for December 2016 was 267.1.
The calculation is the same, just substitute out the %'s.0 -
The months still don't make sense though, as the wording indicates that the PL value should be in the same year as the review, so, unless they review very quickly after the RPI is published in December it doesn't seem possible.0
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Sorry reallly confused how would the dec 2017 - dec 2016 math work do you mind doing the calc and showing me it. Sorry sooo confused..
Also the lease shows GL+ (GL(CL-PL) / PL
Gl is rent now
Cl is current rpi
Pl is previous0 -
Also the november 2017 rpi was 3.9% pretty much the amount it was raised by..
The lady said reviews happen January for a new February payment.0 -
There's a word missing from the calculation for PL. There should be a year in the part "April (although this now appears to be December) in the year..."0
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Please re-write the GR, PL and CL definitions exactly as they appear in the lease.0
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Hi yep lease says December no mention of April. I wanted to check how the £9.96 increase to £257.10 fitted in with the calculation on the lease really as i cannot get it to fit. It was a 3.87% increase rpi nov was 3.9% only way i can fit it is to say its based on rpi nov exclusively0
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