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Doubling Ground Rent Each Ten Years

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I ve not seen one of these leases but for those interested you can view one for auction here 

 

https://auctions.savills.co.uk/Auctions/LotDetails?pid=1749eb65-7e11-4d1f-8002-f5fc8c369b0b&us=

 

Lot 22

Does anyone want to do the maths :)

Ground rent starts at 250 doubing every ten years or increasing with RPI which ever is higher 

 

What is ground rent at year 50 and year 90 :):)

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I ll post to keep things simple

 

Year 1 - 9 - £250

Year 10 - 19 - £500

Year 20 - 29 - £1,000

Year 30 - 39 - £2,000

Year 40 - 49 - £4,000

Year 50 - 59 - £8,000

Year 60 - 69 - £16,000

Year 70 - 79 - £32000

Year 80 - 89 - £64,000

Year 90 - 99 - £128,000

This flat is not worth a dime - Lets see which sucker buys it - unmortgeable !!

Sad on savills that they dont make this clear on the property description 

 

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  • 406 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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