{"id":148107,"date":"2024-11-12T16:00:51","date_gmt":"2024-11-12T09:00:51","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/our-flats-rising-ground-rent-is-going-to-ruin-our-move\/"},"modified":"2024-11-12T16:09:53","modified_gmt":"2024-11-12T09:09:53","slug":"our-flats-rising-ground-rent-is-going-to-ruin-our-move","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/our-flats-rising-ground-rent-is-going-to-ruin-our-move\/","title":{"rendered":"Our flat\u2019s rising ground rent is going to ruin our move"},"content":{"rendered":"


\nOur buyer\u2019s lender has pulled out because the charge rises with the property\u2019s rising value. Now the delay risks collapsing the whole chainWe found a buyer for our leasehold flat, but on the day of exchange their lender declined to offer a mortgage, despite having previously agreed in principle. The reason was a provision in the lease for the ground rent, currently \u00a3200 per annum, to be amended every 25 years according to the market value of the property. We had no trouble securing a mortgage when we purchased the property, and it has not prevented sales of other flats in the building. We have subsequently spent thousands in legal fees trying to secure a deed of variation on the leasehold agreement to amend the ground rent clause but this has been endlessly held up by the freeholder. We now stand to lose our onward purchase.RC, London Continue reading…
\n
\nSource : theguardian.com
\nRead more…Our flat\u2019s rising ground rent is going to ruin our move<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Our buyer\u2019s lender has pulled out because the charge rises with the property\u2019s rising value....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-148107","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-CwP","jetpack-related-posts":[{"id":54631,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taylor-wimpey-compensation-offer-is-pr-con-claim-victims-of-leasehold-scandal\/","url_meta":{"origin":148107,"position":0},"title":"Taylor Wimpey compensation offer is PR con, claim victims of leasehold scandal","date":"May 13, 2017","format":false,"excerpt":"\r Some homeowners believe they will still be left in the clutches of ground rent companies and have to pay excessive chargesTaylor Wimpey last month offered \u00a3130m to buyers trapped in new-build homes with spiralling ground rent contracts. It was a move initially greeted with glee by victims of the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123947,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taylor-wimpey-drops-costly-leasehold-terms-after-investigation\/","url_meta":{"origin":148107,"position":1},"title":"Taylor Wimpey drops costly leasehold terms after investigation","date":"December 22, 2021","format":false,"excerpt":"\r Thousands will be freed from contracts where ground rent charges doubled every 10 yearsThousands of people who bought leasehold homes from the housebuilder Taylor Wimpey will be liberated from terms where their ground rent charges doubled every 10 years, after a long-running investigation by the UK competition watchdog. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/breakthrough-in-leasehold-scandal-as-countryside-buys-back-freeholds\/","url_meta":{"origin":148107,"position":2},"title":"Breakthrough in leasehold scandal as Countryside buys back freeholds","date":"August 7, 2017","format":false,"excerpt":"\r Property developer to take freeholds back from E&J Estates and release homeowners from clauses that double ground rent every 10 yearsHopes of a breakthrough for householders trapped in the leasehold scandal are rising after a major developer agreed to buy back some freeholds and axe controversial ground rent clauses.Countryside\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":170448,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-guardian-view-on-leasehold-reform-labour-must-stand-up-to-property-investors-editorial\/","url_meta":{"origin":148107,"position":3},"title":"The Guardian view on leasehold reform: Labour must stand up to property investors | Editorial","date":"January 30, 2026","format":false,"excerpt":"\r A ground rent cap is a good start, but ministers need to go further in reforming an unjust systemChanges to lease agreements, leading to steeply increasing ground rents over recent years, are an outrage. An estimated 18% of leaseholders in England and Wales \u2013 around 1m households \u2013 have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61784,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-know\/","url_meta":{"origin":148107,"position":4},"title":"Leasehold houses and the ground rent scandal: all you need to know","date":"July 25, 2017","format":false,"excerpt":"\r Campaigners say 100,000 homebuyers in England are trapped in developer contracts with spiralling costs \u2013 how did this happen?Britain has had leasehold homes for hundreds of years, but only in the past few months has the ground rent scandal exploded. Now the government is proposing a complete ban on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34950,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-build-ground-rent-scandal-could-spark-legal-battles\/","url_meta":{"origin":148107,"position":5},"title":"New-build ground rent scandal could spark legal battles","date":"November 19, 2016","format":false,"excerpt":"\r With thousands of homebuyers caught out by rapidly rising rents, the solicitors they used may face claims of professional negligenceSolicitors who failed to warn of soaring ground rents on leasehold properties face a wave of claims for professional negligence, following Guardian Money revelations on a scandal that has engulfed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/148107"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=148107"}],"version-history":[{"count":1,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/148107\/revisions"}],"predecessor-version":[{"id":148108,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/148107\/revisions\/148108"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=148107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=148107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=148107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}