{"id":31250,"date":"2016-10-22T13:00:09","date_gmt":"2016-10-22T06:00:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/beware-the-small-print-that-could-hike-one-bed-flats-ground-rent-to-8m-a-year\/"},"modified":"2016-10-22T13:02:05","modified_gmt":"2016-10-22T06:02:05","slug":"beware-the-small-print-that-could-hike-one-bed-flats-ground-rent-to-8m-a-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beware-the-small-print-that-could-hike-one-bed-flats-ground-rent-to-8m-a-year\/","title":{"rendered":"Beware the small print that could hike one-bed flat\u2019s ground rent to \u00a38m-a-year"},"content":{"rendered":"


\nAt first the bill for a \u00a358,000 leasehold flat was \u00a3250 \u2026 then \u00a38,000. But the nightmare\u2019s just beginningYou\u2019ve just bought your first flat, and were told by your solicitor that the ground rent is \u00a3250 a year. So, on moving in, you are staggered to be presented with a bill for \u00a38,000 a year.But that\u2019s not the end of the nightmare. In the small print of the lease is a tortuously worded clause stating that this will double every 10 years, so that in 35 years it will have soared to \u00a3128,000, and in 95 years it will be \u00a38m \u2013 for a one-bed flat that you bought for \u00a358,000. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Beware the small print that could hike one-bed flat\u2019s ground rent to \u00a38m-a-year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

At first the bill for a \u00a358,000 leasehold flat was \u00a3250 \u2026 then \u00a38,000. But...<\/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-31250","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\/p75ss1-882","jetpack-related-posts":[{"id":31252,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-is-theft-well-leasehold-certainly-is\/","url_meta":{"origin":31250,"position":0},"title":"Property is theft? Well, leasehold certainly is","date":"October 22, 2016","format":false,"excerpt":"\r Ground rent ... sparking seedy practices for which there is no ethical basisIt beggars belief that there can be clauses in a property contract which allow a freeholder to backdate the ground rent and then present an extortionate bill to the unsuspecting buyer of a flat. That we can\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":148107,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/our-flats-rising-ground-rent-is-going-to-ruin-our-move\/","url_meta":{"origin":31250,"position":1},"title":"Our flat\u2019s rising ground rent is going to ruin our move","date":"November 12, 2024","format":false,"excerpt":"\r Our 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.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80778,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-of-worst-leasehold-abuse-block-sold-for-180000\/","url_meta":{"origin":31250,"position":2},"title":"Freehold of 'worst leasehold abuse' block sold for \u00a3180,000","date":"February 23, 2018","format":false,"excerpt":"\r Anonymous buyer picks up right to collect soaring ground rents on Blythe Court flats from freeholder MPs described as crookThe freehold to a block of flats in Birmingham regarded as the worst example of leasehold abuse in the country has been snapped up by an anonymous buyer for \u00a3180,000.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69912,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rent-to-own-retailer-brighthouse-ordered-to-repay-14-8m-to-customers\/","url_meta":{"origin":31250,"position":3},"title":"Rent-to-own retailer BrightHouse ordered to repay \u00a314.8m to customers","date":"October 24, 2017","format":false,"excerpt":"\r Financial Conduct Authority says company supplying household goods on high-cost credit has not been \u2018a responsible lender\u2019Britain\u2019s biggest rent-to-own retailer, BrightHouse, faces a \u00a314.8m bill to compensate nearly 250,000 customers as part of a clampdown on the sector by Britain\u2019s financial regulator.The Financial Conduct Authority has ordered the company\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-london-flats-smoke-and-mirrors-trickery-i-like-to-seek-out-the-unusual\/","url_meta":{"origin":31250,"position":4},"title":"A London flat\u2019s smoke and mirrors trickery: \u2018I like to seek out the unusual\u2019","date":"September 30, 2018","format":false,"excerpt":"\r A giant glass cube gives a sci-fi twist to this London flat, partly reflecting its former resident Tom Baker, AKA the DoctorIt takes a moment for your eyes to adjust to the black that wraps around the walls and ceilings of Linda Allen and Darin Brown\u2019s flat, which occupies\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28411,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-faces-shortfall-of-1-8m-rental-homes-warns-housing-body\/","url_meta":{"origin":31250,"position":5},"title":"UK faces shortfall of 1.8m rental homes, warns housing body","date":"October 4, 2016","format":false,"excerpt":"\r The Royal Institution of Chartered Surveyors is urging government to reverse stamp duty changes on second homes and incentivise build-to-rent schemeThe UK is facing a shortfall of 1.8m rental properties unless the government acts fast to slow a sharp drop in the number of available homes, according to a\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\/31250"}],"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=31250"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/31250\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=31250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=31250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=31250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}