Text for Report on Title
ROT: Doubling Ground Rent every 25 years (Where rent will be exceed Housing Act 1988 amounts) + Suggestion of Indemnity Insurance
- Change date
- 01/05/2019
- Word count
- 1,125
- Deployment measure
- 7/10
Rationale
Paragraph explaining the problems with escalating ground rent. Although this wording refers to ‘doubling ground rent’ every 25 years it can be adapted based on specific circumstances. The advice refers to lender trends and options available to a client.
The lease currently provides that the annual ground rent payable is now £{ } per annum, which then doubles every 25th anniversary of the { }. Whilst the provision for doubling of the ground rent every 25 years may currently be deemed acceptable to some buyers,recently concerns have been expressed about the potential impact on
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