Jim Littlehampton

Registered with Property118.com
Saturday 14th December 2019


Latest Comments

Total Number of Property118 Comments: 22

Jim Littlehampton

15:24 PM, 8th April 2021
About 5 days ago

Keep or sell leasehold with ground rent increasing formula?

Reply to the comment left by Dylan Morris at 07/04/2021 - 10:34
Thanks Dylan for the reply. If inflation is high then will lose out as its either minimum of £250 or if inflation increases are higher then will be more than £250 increase. I am no worried about the amount. Though in 50 years Ground Rent will be at least £1250 per year. I would prefer to buy the freehold but that could mean more hassle too.... Read More

Jim Littlehampton

10:29 AM, 7th April 2021
About 6 days ago

Keep or sell leasehold with ground rent increasing formula?

Reply to the comment left by Ron H-W at 05/04/2021 - 12:02
Thank you for the detailed calculation. Yes its not doubling Revised Rent = £250 * Latest Index Figure/Initial Index Figure OR the sum of the yearly rent payable immediately before the relevant review and £250 whichever is greater

It based on inflation increases with the minimum increase being £250... Read More

Jim Littlehampton

10:23 AM, 7th April 2021
About 6 days ago

Keep or sell leasehold with ground rent increasing formula?

Reply to the comment left by Dylan Morris at 05/04/2021 - 12:04
I got a mortgage. Thanks for the responses. I think it definitely worth keeping

I may try again to buy the freehold but will this be much more expensive next year when ground rent will increase from £250 to around £500. I don't think the lease reforms will help us.... Read More

Jim Littlehampton

11:46 AM, 5th April 2021
About A week ago

Keep or sell leasehold with ground rent increasing formula?

Reply to the comment left by Ian Cognito at 05/04/2021 - 11:29
Hi Ian

Below is the calculation:

Revised Rent = £250 * Latest Index Figure/Initial Index Figure OR the sum of the yearly rent payable immediately before the relevant review and £250 whichever is greater

990 years left. No Service charge.... Read More

Jim Littlehampton

11:42 AM, 5th April 2021
About A week ago

Keep or sell leasehold with ground rent increasing formula?

Reply to the comment left by Laura Delow at 05/04/2021 - 10:14
I understand the reforms only affect leases going forward and those that need to renew the lease so may not help ? Our lease has 990 years left.... Read More