Landlords Alliance – Emergency Euro Elections Statement21:09 PM, 21st May 2019
About 5 days ago 75
Recently bought Taylor Wimpey 2 bed apartment. Built in 2007 on 150 year lease. Poorly advised by solicitor. Ground rent doubles every 10 years until 2057. Presently £250, 2017 £500, 2027 £1000, 2037 £2000, 2047 £4000, £2057 £8000.
I planned to keep the properly long term eventually gifting to grandchildren. Anyone any idea how much it will cost me if I have to go all the way to a LVT for a 90 year lease extension and a peppercorn rent?
I know it won’t be cheap and I doubt the freeholder will be co-operative so I may have to go all the way to a LVT. I have read that lay people also sit on the tribunal board – do you think I may get any sympathy having been caught out by very greedy ground rent provisions?
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