How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask SS Legal Advisor Your Own Question
SS Legal Advisor
SS Legal Advisor, Advocate
Category: Law
Satisfied Customers: 760
Experience:  Senior Caseworker at DL Solicitors
107664070
Type Your Law Question Here...
SS Legal Advisor is online now

Is ground rent clause set as £350 annually based rate then

This answer was rated:

Is ground rent clause set as £350 annually based rate then increase on every 5 years review according to RPI on a leasehold apartment more onerous than every 10 years doubling?
Customer: replied 4 days ago.
Is this type of property likely to get mortgage?
Hi there,It is unlikely it will double, chances are any increase will be nominal. I would review any previous management packs for the yearly accounts to see what the previous increases were like.The banks will in particularlook into the duration of the Lease before they decide to lend or not (so generally anything over 100 years they will like and so forth).I hope this helps and please do let me know if you have any further questions.Kind regards
Customer: replied 4 days ago.
It’s a new build apartment. We don’t know what it will be in the future on the ground rent. Thanks anyway.

Hi there,

No problem, always happy to help.

With it being a new build, any increase will be nominal so I wouldn't worry about any major increases - especially any time soon.

Kind regards,

SS Legal Advisor and other Law Specialists are ready to help you