New house and extension

Ric

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mekonmcfc

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urmston
You could still sell surely? How's the rental market at the moment, maybe you could lease it out
Its a nice house in a good area, i like living there. The ground rent once a year is the only problem. Shane the government cant do anything retrospectively. Never mind i guess i'll live with it
 

TheRemainsOfTheDave

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16 Mar 2017
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You could still sell surely? How's the rental market at the moment, maybe you could lease it out
Leasehold may make it harder to sell, depends what's in the terms of the lease. Seeing as it's already gone up 300%, I'd guess it's not brilliant. It might be worth buying up the lease (expect 8 times the current lease) and stick it on the value of the house. The mortgage lender might be able to advise and be willing to add the cost to an existing mortgage.

It's an absolute disgrace, and solicitors should be taken to task for not making absolutely sure their clients are aware of what could happen. Some banks are starting to refuse mortgages where ground rent rises are, frankly, immoral.
 

mekonmcfc

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30 Dec 2008
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2,931
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urmston
Leasehold may make it harder to sell, depends what's in the terms of the lease. Seeing as it's already gone up 300%, I'd guess it's not brilliant. It might be worth buying up the lease (expect 8 times the current lease) and stick it on the value of the house. The mortgage lender might be able to advise and be willing to add the cost to an existing mortgage.

It's an absolute disgrace, and solicitors should be taken to task for not making absolutely sure their clients are aware of what could happen. Some banks are starting to refuse mortgages where ground rent rises are, frankly, immoral.

I just looked on the website of the ground rent company, and they want £108 just to apply for a figure to buy the leasehold
 

discopop

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15 Jul 2010
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Sunny Crumpsall
All this makes me thankful I only pay £6.50 a year to some Duchee of Wilton or some other 19th century land baron, never rises and if I could be arsed could buy out easily enough, it's disgraceful some the scams the builders have pulled in recent years
 

yeseye

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14 Feb 2008
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EARLY CROSS, CHANCE AT THE FAR POST,HINCHCLIFFE
Hopefully the leasehold scandal will go the same way as the PPI and we will all be compensated with interest!

One house builder, Taylor Wimpey, has reportedly already set aside £130m to cover leasehold disputes arising from people who bought its homes between 2007 and 2011, and who now face doubling ground rents.
 

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