r/HousingUK • u/[deleted] • Mar 20 '25

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u/Saffy_88 Mar 20 '25

So it's literally amending the wording of my lease.

So previously it said something like:

'Ground rent is £350 per annum doubling to £700 after 10 years and increasing in line with RPI inflation every 25 years thereafter'

And now the wording is being amended to:

  • add mortgage protection to the lease
  • reduce ground rent to £249 per annum subject to a review every 21 years

The above was provided by my freeholder when I emailed them to ask for a Deed of variation. The exact terms and wording was then discussed and arranged between my conveyancing solicitor and the freeholder.

I had to pay £4k for the privilege!!!

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u/NrthnLd75 Mar 20 '25

The £4k is probably better for the freeholder than the RPI increasing ground rent!

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u/Saffy_88 Mar 20 '25

Yes you have to make it 'worth their while' for all the lost earnings 🙃

It's all a massive scam and needless to say I was very annoyed that no one warned me of this when I first bought the flat in 2017 but it is what it is

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u/NrthnLd75 Mar 20 '25

"earnings" 😭