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  • FIRST POST
    • martinlewisjunior
    • By martinlewisjunior 7th Mar 18, 6:42 PM
    • 77Posts
    • 12Thanks
    martinlewisjunior
    Ground Rent Doubling Every 25 Years - Question
    • #1
    • 7th Mar 18, 6:42 PM
    Ground Rent Doubling Every 25 Years - Question 7th Mar 18 at 6:42 PM
    Hi,

    Slight concern am I able to avoid the doubling ground rent on my flat if I go down the statutory route which would make the ground rent £0? Of course it would add 90 years as well as a bonus.

    Details about the flat:
    112 years remaining on the lease. Current ground rent £150 doubling every 25 years. Next double January 1st 2030.

    Final double would be January 1st 2105 for the remainder of the term for £2400.

    Also how much would this cost? Iíve made a rough guess by calculating ground rent of each year /term by 7.25% and totalling up each year to give me a total of £8300, does this sound about right?

    Thank you!
Page 1
    • John-K
    • By John-K 7th Mar 18, 7:38 PM
    • 654 Posts
    • 1,016 Thanks
    John-K
    • #2
    • 7th Mar 18, 7:38 PM
    • #2
    • 7th Mar 18, 7:38 PM
    I can!!!8217;t answer your question, but thought it worth pointing out that a 25year doubling is only 2.8% a year growth. Not ideal, but not crippling.
    • martinlewisjunior
    • By martinlewisjunior 7th Mar 18, 7:46 PM
    • 77 Posts
    • 12 Thanks
    martinlewisjunior
    • #3
    • 7th Mar 18, 7:46 PM
    • #3
    • 7th Mar 18, 7:46 PM
    I can!!!8217;t answer your question, but thought it worth pointing out that a 25year doubling is only 2.8% a year growth. Not ideal, but not crippling.
    Originally posted by John-K
    Would you say itís worth doing? I plan on keeping the apartment for quite a long term and have no plans on selling in the near future.
    • bouicca21
    • By bouicca21 7th Mar 18, 8:54 PM
    • 3,694 Posts
    • 5,551 Thanks
    bouicca21
    • #4
    • 7th Mar 18, 8:54 PM
    • #4
    • 7th Mar 18, 8:54 PM
    Pay £8,000 now to save just over £1,500 over the next ten years? 30+ years to reach break even point? As they say on that car ad 'You do the maths'.
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