If you have a leasehold property managed by Estates & Management (which was developed by Taylor Wimpey) you should have received an email stating that you are eligible to remove any increasing ground rent provisions on your lease. Certain landlords have been enforced required to convert a lease’s ground rent review to remove any increase in ground rent; this is a principally more favourable arrangement for the leaseholder. Estates & Management have also agreed to cover the leaseholder’s legal fees up to £750. We have assisted numerous leaseholders with variations of this kind with multiple landlords/developers.
By varying your lease and fixing ground rent, you will find multiple benefits:
1. Save money by avoiding future increases in the Ground Rent
2. The property will become more marketable and attractive for future buyers
3. The costs of extending your lease or purchasing the freehold in the future will be reduced.
Monarch Solicitors have specialist knowledge and experience of each step in the process, and are available to guide you through the transition process smoothly and efficiently. We currently act for leaseholders from every corner of the country and our broad service range means that our team are able to take a pragmatic and practical approach in each case, ensuring that you receive the right advice on all leasehold property matters.