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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 11076
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I m buying a new property and I'm getting a bit confused

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Hi there,
JA: Hi. How can I help?
Customer: I m buying a new property and I'm getting a bit confused about the Ground Rent, So I thought to get a piece of independent advice from you. The property ground rent has increased over £250 a year and is based on the change in RPI.
JA: Where are you? It matters because laws vary by location.
Customer: Liverpool
JA: What steps have you taken so far?
Customer: Completion day is next Thursday
JA: Anything else you want the Lawyer to know before I connect you?
Customer: iI would need to know if this can a problem another day when I try to sell the property?

Hi, thanks for your enquiry. Could you confirm the following so I can advise you fully-

is the property a house or a flat?

Is it a new build?

How long is the Lease term? ie is it for 125 years for example.

What is the purchase price? What is the initial yearly ground rent? £250? How often is the rent reviewed in line with RPI?

I look forward to hearing from you. Al

Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 6 days ago.
Hi AI, Thank you for your prompt reply.
1- it's a flat
2- was built in 2002
3- 999 years
4- purchase price 142,500
5-the initial rent was £100 and it reviewed inline every 5 years.

Thank you