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Worth buying freehold
wrlfc
Posts: 12 Forumite
I have just received a letter from my freeholder to pay my yearly ground rent. £7.50 per year.
Included was another letter with an offer to buy the freehold for £695. Apparently she is considering selling a large proportion of her freehold rents to an institutional investor.
Me and my wife have lived at my property for over 20 years and have no intention of ever moving and my children will get the house when we pass away.
My ground rent has always been £7.50 ever since we moved here.
I wonder what people's thoughts are on this. My biggest concern is the words institutional investor. Surely an investor would want a decent return and I am concerned the ground rent would rocket in price
Many thanks.
Included was another letter with an offer to buy the freehold for £695. Apparently she is considering selling a large proportion of her freehold rents to an institutional investor.
Me and my wife have lived at my property for over 20 years and have no intention of ever moving and my children will get the house when we pass away.
My ground rent has always been £7.50 ever since we moved here.
I wonder what people's thoughts are on this. My biggest concern is the words institutional investor. Surely an investor would want a decent return and I am concerned the ground rent would rocket in price
Many thanks.
0
Comments
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Neither the freeholder nor the leaseholder can unilaterally change the ground rent (apart from any mechanism which is already in the lease).0
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May be worth it for peace of mind, though, especially in view of the amount being charged?Sealed Pot Challenge no 14
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I asked my parents to buy theirs in the same situation one less thing.0
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