11:46 AM, 10th August 2015, About 7 years ago 20
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?