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Tag Archives: ground rents

Posted in Real Estate News

Government proposes to abolish residential ground rents

Following a number of recent reports of scandals involving leasehold properties, the Rt Hon Sajid Javid MP, Secretary of State for Communities and Local Government, yesterday issued a consultation paper entitled “Tackling unfair practices in the leasehold market” with the aim of addressing particular issues.  You can read the full paper here. We highlighted some of

Posted in Real Estate News

Nationwide announces position on onerous ground rents

Nationwide announced recently that it will not lend on new build residential leasehold properties if the amount of ground rent is more than 0.1% of the purchase price. This change has been introduced by Nationwide in part to protect the marketability of the property from what Nationwide describes as “unreasonable multipliers”, such as ground rents