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LATEST NEWS
Transfer of Equity 

In recent months we have had a rise in the number of Transfer of Equity

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Independent Legal Advice: Why do I need it? 

You may have come across a situation where you have been asked to obtain ‘Independent

read more >
Injunctions and domestic abuse 

If you are suffering from domestic violence, we are here to assist you through this

read more >
CHILD ARRANGEMENTS ORDER (CAO) 

What is a Child Arrangements Order (CAO) A Child Arrangements Order (CAO) is an order

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The Bank of Mum and Dad, With a Twist 

The property market has been unstable ever since the first mention of Brexit, buyers and

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PROTECT YOUR TENANT’S DEPOSIT! 

The Tenancy Protection Scheme came into affect on 06 April 2007. This scheme introduced the

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LATEST NEWS

Ground Rent: The Implications of Unfair Ground Rent Provisions

1st November 2018

The number of new build leasehold purchases has grown tremendously over the past decade especially with the introduction of Government equity schemes to help first time buyers step on to the property ladder.  Controversially, while individuals are being encouraged to become homeowners, it seems that many new build leases contain excessive ground rent clauses, many of which allow the ground rent sum to double every ten-twenty years.

This issue is particularly highlighted in the Department for Communities and Local Government published a summary of Government consultation responses in December 2017 (Department for Communities and Local Government: ‘Tackling Unfair practices in the leasehold market’ Summary of consultation responses and Government response December 2017: View/Download PDF). While the Government has made it abundantly clear that the objective is to tackle these unfair ground rent provisions, the question is to what extent are these Developers complying and how much care is being taken by the legal representatives.

To what extent do these excessive ground rent provisions affect leaseholders personally many of us wonder. Not only does this put many leaseholders out of pocket financially but it leaves many homeowners feeling like ‘prisoners’ in their own home. For example, a lease which contains provisions allowing ground rent to commence at £500.00 for the first ten years, and double every consecutive ten years, the ground rent will eventually be so high beyond most individual’s ability to manage. Yes, it is true that many leaseholders may not be directly affected by the higher rent sum, leaseholders are not being advised properly to take into account the impact on the future marketability of their property. For example, when selling the property, future mortgage lenders will require any excessive ground rent provisions to be reported to the Lender. This may in turn become a disadvantage in trying to re-mortgage the property or selling the property on to an individual who requires a mortgage.

If you have already completed on a purchase which you have later found to include a doubling ground rent clause you can contact a Solicitor or Conveyancer who may be able to assist.

RECENT NEWS
Transfer of Equity 

In recent months we have had a rise in the number of Transfer of Equity (ToE) and Remortgage enquiries. Through this article, we will give you a brief explanation of what these transactions entail and what we as residential conveyancing solicitors can do to help. A ToE is a process through which a homeowner can […]

Independent Legal Advice: Why do I need it? 

You may have come across a situation where you have been asked to obtain ‘Independent Legal Advice’ in relation to your conveyancing matter. In fact, in most cases, a lender will advise you to seek Independent Legal Advice regarding your transaction when it becomes necessary to do so. This typically occurs where for example:   […]

Injunctions and domestic abuse 

If you are suffering from domestic violence, we are here to assist you through this challenging time. Our experienced family team are aware of the difficulties and the impact that domestic violence can have on individuals and children. We can prepare a court application quickly and in most cases we can be ready to apply […]

CHILD ARRANGEMENTS ORDER (CAO) 

What is a Child Arrangements Order (CAO) A Child Arrangements Order (CAO) is an order granted by the court following an application by one of the parents or guardians of a child. The order will set out who a child will live with and the arrangements for the child to spend time with another person […]

The Bank of Mum and Dad, With a Twist 

The property market has been unstable ever since the first mention of Brexit, buyers and sellers alike appear to be taking a back seat, hoping the market is in their favour once it all settles down. One thing that hasn’t changed through it all however, is how difficult it is for younger people to get […]

TESTIMONIALS
Professional Experts…
I first used Aston Brooke Solicitors over 3 years ago. Ever since then I have given them all my legal work, I find their staff to be very helpful and easy to talk to. I have brought over 7 residential properties and 2 commercial properties - each transaction has been dealt with professionally and I have always been kept informed.

Mr A Bajwa

Great Knowledge and Efficient
I was put in touch with solicitors at Aston Brooke through a mutual friend to handle a personal Health Care case. I can not speak highly enough for the service I received. My family and I are forever grateful for the all the help on our case. Thank You.

Mr M Grice

Easy to talk to
Ray Purewal at Aston Brooke was my point of contact and I found him to be a great source of knowledge for my case. He handled everything swiftly and dealt with the opposition in the best way possible. Many Thanks Ray!

Miss L Walker

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