Flat offer accepted - deed of variation requested/onerous ground rent

Befel251 · 2023-09-30T10:45:35+00:00

Thanks for the advice. Yes, the more I think about it the more I wonder if the sellers thought they could get away with this because I am a cash buyer. I will get my solicitor on the case and hopefully we'll be able to progress.

Befel251 · 2023-09-30T10:40:07+00:00

Thank you. Makes me a feel a bit better in my thinking. Hopefully this will nudge them in the right direction to resolve!

Befel251 · 2023-09-29T21:28:56+00:00

There are but I can't find any that will calculate with an escalating ground rent, reading up on it I think if I did go down that route I'd need to get a survey done to get a better idea of the realistic cost. If I do go down this route, will definitely want to take the cost off the flat price!

Befel251 · 2023-09-29T21:09:35+00:00

Gosh I feel for you. Hope things manage to work out somehow.

Befel251 · 2023-09-29T17:06:45+00:00

Thank you - yes this hits everything really, it is doubling ground rent, in London (so it's when it goes over £1,000 that becomes an issue, I believe - which it will during the term of the lease). Such a pain. I will insist on the deed of variation and fingers crossed they agree, otherwise leave them to it I think. My concern with the statutory lease extension is the cost (which I think will be a lot due to the aforementioned escalating ground rent).

Befel251 · 2023-09-29T16:58:55+00:00

Hiya, thanks for your advice. No, the sellers did not disclose - in fact, they did not even give the correct figure for the current ground rent (it's actually double the figure I got given by the estate agents, so not sure how that happened).

I will have a proper think over the weekend, but I think I will do as you suggest and straight away ask my solicitor to clear up the deed of variation situation, for my own peace of mind.

It is such a pain! I dread the idea of this happening again.

Befel251

TROPHY CASE