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Ground Rent Review Mechanism
Comments
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Yes, that's what I'd expect.Ctlaw_ said:
The lease states that the leasehold can disagree to the proposed rent and then a chartered surveyor would be appointed, the cost of which will be equally shared between the landlord and the leaseholder. I think this should be OK?user1977 said:
It ought not to be a service charge cost, given it's not a service and purely for the interest of the freeholder. The leaseholders may of course want to argue the point and get their own valuation. The lease should explain the mechanism for agreement, presumably with reference to an independent third party if there's a dispute.NameUnavailable said:How does the freeholder determine the 'market value' for the review? I'm guessing they'd have to get a formal valuation and that will be charged back to you under the service charge.1 -
Can I ask, since there are 900+ years remaining for the lease terms, it is probably not worth to extend the lease at the moment in order to reduce the ground rent to a peppercorn?
It seems that many leasehold apartments are with these issues. Would there be mortgage lenders which may accept this case?
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