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EN
Our children will inherit a leasehold flat they can’t sell and will cost them thousands
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The i Paper
“We are in our late 70s and our children will inherit a property they can’t sell with charges that they will not be able to afford.
However, eight years later, their ground rent has risen to £450 a year and the service charge is up to £138 a month.
A rising ground rent clause shows the ground rent will keep increasing every 10 years until it reaches £1,000 a year.
Chrissie is worried their children will be left with a property they cannot sell and which costs them money“The flat itself is lovely and is close to the sea.
I don’t know how much it will cost to extend it, but I know it will be a lot because of the rising ground rent.