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Deciphering a lease (shared ownership)
Comments
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Cl is the current index figure (being the figure shown in the index published in the month of December last before the Review date in question
Pl is the previous index figure being the figure shown in the index published in the month of december in the year
either
but one preceding the date of the begining of the term in the case of the first review of the lease whose term comences on a day in january
Or
last day before the beginning of the term in case of the first review date of any other lease
or
Last before the preding review date in any other case0 -
£257.10 + (((£257.10*(278.1-267.1))/267.1)
So:
£257.10 + ((£257.10*11)/267.1)
So:
£257.10 + (£2,828.10/267.1)
So:
£257.10 + £10.58 (maybe 0.59 depending on rounding)
So:
£267.68 - Is this the current ground rent?0 -
Very close 267.06 but awesome0
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but one preceding the date of the begining of the term in the case of the first review of the lease whose term comences on a day in january
Or
last day before the beginning of the term in case of the first review date of any other lease
or
Last before the preding review date in any other case
I based it on the variable that I've made bold and underlined applying. If one of the others applied then this may account for the difference.0 -
So pleased you can see the math. I couldnt help them seeing it
And lastly and sooo sorry.. what is the math you have used here? The numbers u have minused at top are bigger? Why? Sorry. Try and make this last question!0 -
Oh dont worry i got it!! Thank u so so so much 1 million thank yous and likes
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Because as I said, the references are to the RPI index, not the RPI increase. The RPI index is published monthly and expressed as a number rather than a percentage.
The Office for National Statistics publishes all RPI index numbers back to 1987 here https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/chaw/mm23 so it is just a case of finding the relevant months.0 -
Yepp all cleared up and i get it now.. 1 million thank yous0
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