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SS Legal Advisor
SS Legal Advisor, Advocate
Category: Law
Satisfied Customers: 760
Experience:  Senior Caseworker at DL Solicitors
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Is ground rent clause set as £350 annually based rate then

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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,

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