Ground Rent

Important Leasehold Reform News Featured Image

Important leasehold reform news!

Millions of leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent, the Housing Secretary Robert Jenrick has announced today (7 January 2021). The changes, making home ownership more secure, will mean that a leaseholder can extend their lease on their home but will no longer pay ground rent to the freeholder which could save them thousands of pounds.  This reform also applies to all new retirement properties and forms part of the biggest reform to English property law for forty years.  Under current rules, leaseholders of houses can…

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Unfair leasehold arrangements Featured Image

Unfair leasehold arrangements.

  An interesting article was published recently regarding a government backed pledge to stop leaseholders being trapped in unfair and costly deals.  Companies such as Taylor Wimpey and Barratt Homes have already signed the government-backed pledge, which commits them to doing away with onerous ‘doubling clauses’ that can result in ground rents soaring exponentially over a short period of time. The freeholders who have signed, have committed to changing the terms of leases for those who are affected. Other industry bodies such as Managing Agents have also put their names down, vowing to act fairly and transparently in their dealings…

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What is Ground Rent? Featured Image

What is Ground Rent?

Listen to Property Manager Jamie Fisk, who will explain what ground rent is in his short video below.    

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Service Charges and other expenses Featured Image

Service Charges and other expenses

Today, we’re going to talk about Service Charges and other expenses that are likely to apply to any leasehold property you buy or rent. Service Charges If you pay a Service Charge, your lease will be set out explaining how this is organised and what can be charged.   You have the right to ask for a summary outlining how the charge has been calculated and what it will be spent on together with any receipts or paperwork.   You are entitled to this information from your Landlord. Ground Rent You do not have to pay Ground Rent unless your…

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