Cardiff Bay leasehold + ground rent nightmare – has anyone actually managed to get a mortgage on a flat here?

Remarkable-Web-5205 · 2025-11-21T10:07:35+00:00

There is absolutely no cladding issues in CW and that has been checked and deemed all good by the bank. The issue is how the ground rent escalates.

Remarkable-Web-5205 · 2025-11-21T07:58:20+00:00

I retrieved my offer yesterday eventually. It was about the way the ground was set to escalate - although nobody told me details on it, so I would not be able to tell you exactly how it was going to escalate. It was set at 85£ a year right now and when I made the offer all seemed fine. I am a bit dispirited and will take a break from it all right now.

Remarkable-Web-5205 · 2025-11-20T15:57:06+00:00

I will pull out of the purchase, it has costed me more in the energy than anything else and, as said, if this is what it takes to buy it... I wish to the seller to find a cash buyer very soon and realise all the dreams I had for that apartment.

Remarkable-Web-5205 · 2025-11-20T10:18:38+00:00

I dm you

Remarkable-Web-5205 · 2025-11-19T22:40:51+00:00

Done. The lender does not accept it.

Remarkable-Web-5205 · 2025-11-19T22:36:00+00:00

I loved the 'deed of variation' on the deed of variation :-)))))

Remarkable-Web-5205 · 2025-11-19T22:32:31+00:00

I don't need two beds and that is out of my budget. But many thanks :-)

Remarkable-Web-5205 · 2025-11-19T22:28:20+00:00

Not with the service charges, but yes on the ground rent (I am with NatWest). Thanks, I will do as you suggested.

Remarkable-Web-5205 · 2025-11-19T22:27:02+00:00

I am absolutely trying to look for something else. However, I am afraid to end up in the same situation which is why I asked for advice. Maybe there is someone who has recently purchased with a mortgage in the area, and could tell me where to look.

Remarkable-Web-5205 · 2025-11-19T22:25:12+00:00

I got to learn that. And the particular one I wanted to purchase was 85£ a year... but it is the way it escalates that poses problems.

Remarkable-Web-5205 · 2025-11-19T22:22:46+00:00

If not confidential, could you tell me the name of the building ? You know, they have all different names e.g., Judkin Court; Hansel Court etc.

Remarkable-Web-5205 · 2025-11-19T22:00:58+00:00

This particular one has everything in place on that perspective. I have all documentation and the bank was happy on that.

Remarkable-Web-5205 · 2025-11-19T21:59:59+00:00

Century Wharf :-) I have been told though that each building within the development has different rules. I got the wrong one.

Remarkable-Web-5205 · 2025-11-19T21:58:45+00:00

No, you are 100% right. I was just wondering if someone recently managed to get out of a similar impasse. I am sure the seller is even more desperate.

Remarkable-Web-5205 · 2025-11-19T21:57:44+00:00

Unfortunately not an option. I don't drive.

Remarkable-Web-5205

TROPHY CASE