Increasing Ground Rent! #IncreasingRent #Leasehold

May 23, 2017

Recent research has revealed that developers have now started to introduce clauses into their leases on new-build properties which result in ground rent doubling every few years. Some buyers have found their homes are becoming unsaleable after mortgage companies refused to lend against properties with onerous ground rent clauses.

If you are thinking about buying a Leasehold new-build property then make sure you are aware of any potential pitfalls in the Lease which could lead to your home becoming unsaleable.

We at Baines Bagguley Penhale will provide our clients with a report on the main terms of the Lease, so that our clients are fully conversant with the investment they are making.

Contact our office for further details!   #IncreasingRent  #Leasehold

View a recent article from The Guardian.

 

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