onerous ground rent
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Ground Rent Was Not a Peppercorn: The £18,000 Conveyancing Lesson
A buyer believed the ground rent was a peppercorn. He later discovered a £300 annual rent, a sliding increase and serious mortgageability problems. The resulting £18,000 remedy offers important lessons for conveyancers.
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Ground Rent Mortgage Requirements: The Lease Has Not Changed, but the Market Has
A ground rent clause may remain unchanged while mortgage lender requirements move around it. Discover why the relevant lender, transaction date and wider mortgage market all matter when investigating an earlier purchase.