Extortionate ground rent review increase by 2840%Make Text Bigger
I’ve been served with a notice for a ground rent increase from £50 to £1470 by my landlord for a freehold house in a village near Norwich.
My house is attached to a number of flats which are also faced with a similar increase by the landlord although he has just singled me out to take to an arbitration. The value of the house was £44,000 25 years ago and recently valued at £125,000. The ground rent he is asking is similar to the value in Knightsbridge and is almost a 3000% increase on the previous ground rent!
An arbitrator has been appointed by the RICS. There is a rent review clause in the lease which applies every 25 years. The two thirds rateable value clause is also within the lease schedule, although I understand that this has been abolished. Surely this doesn’t mean that he can ask for what he likes?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.