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The negative media attention of the last few months has severely reduced the value of doubling ground rent investments and this has in turn dramatically reduced the price for you to buy your freehold/extend your lease to totally remove the ground rent.
Such is the reduction in the value of this type of investment that we believe that a 10-year doubling ground rent lease can be acquired or extended to remove the ground rent at less than a 10-year RPI lease can be acquired/extended for. We have transactional evidence to support our view.
If you have been offered the opportunity by your freeholder to convert your existing 10-year doubling ground rent review clause for a 10-year RPI clause for no payment, you could be better off rejecting this offer and buying the freehold/extending the lease. By converting to a 10-yearly RPI rent review clause the value of your property is still going to be compromised, especially as the government plans to ban leasehold houses and ban ground rents on new build flats. This will create a two-tier market which will make selling leasehold properties with ground rents more difficult in the future.
We are true specialists in this field. We are currently acting for leaseholders against Elmbirch Properties, Homeground, Pier Management, Estates and Management, Simarc, LPM and many other freeholders and their management companies.
Don’t be put off by extortionate quotes you might have had from your freeholder. The true cost to remove the ground rent is a fraction of these quotes.