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A leashold will have a "pepper corn" ground rent, which should be around £10 a year. Anything else and you need to walk away. Basically buying anything other
by KaiserPro 9y ago
A leashold will have a "pepper corn" ground rent, which should be around £10 a year.
Anything else and you need to walk away.
Basically buying anything other than a flat through a leasehold is a scam. That goes for "share of freehold" which is a leasehold, just called differently. Those should really be avoided, because they are basically houses that have been sub divided. This means that the leasehold agreement will be of varying quality.
Either way, you will need to find a competent conveyancer, one that is paying attention and actually reads the contract and leasehold agreement. (basically do not use the ones that are provided by the estate agent/seller/other)