Ground rents in a new lease
We are currently looking into the purchase of a new build flat and are examining the lease. There is a clause that relates to a review of the ground rent every ten years. The ground rent starts at £225 per annum and the review refers to a potential increase based on being multiplied by any change in RPI (unless this is less than the previous rent charge). I have been advised to be extremely wary of leases that include ground rents with 10 year or 5 year increases. Is this a lease that should be avoided? Can I ask for the lease to be re-written?
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