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What is ground rent?

I'm looking into buying a new flat, and the agent keeps talking about ground rent. What exactly are ground rent charges, how do I know if I have to pay them?

Asked on Sep 8 2016, Home Finance in Brighton | Report content

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  • Hello there. Ground rent is paid by the owner of a property's lease to the owner of the land upon which the building sits. So the property leaseholder pays the freehold owner fees, which make up an income for the landowner. You can get some more information on this, and other new home costs, in this article here. Many thanks, Dan

    Web reference: http://www.zoopla.co.uk/discover/phil-spencers-top-tips/g...

    Answered on Sep 12 2016, Report content
  • The ground rent is payable to the freeholder if you have a leasehold property. The charge will be set out in the lease. Ground rent is not usually a significant amount, the charges you want to look at closely when buying a flat are management charges for maintenance etc.

    Web reference: http://www.lease-advice.org/advice/

    Answered on Sep 12 2016, Report content

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