Owners of leasehold homes who have discovered issues in terms of selling can use free legal services at JMP Solicitors to help with the rectification of deeds.
If you are a home owner of a new build house or flat with a 10-year doubling ground rent clause, the conveyancing experts at JMP will be able to assist you as you may be eligible for a free legal service to amend the terms of the lease of your home.
Many homes sold between 2007 and 2011 are subject to a 10-year doubling ground rent clause, which means that every year the ground rent doubles throughout the lease term resulting in significant sums having to be paid – however, sometimes this is subject to a cap.
Due to this, mortgage lenders are often reluctant to offer mortgages due to the terms of the lease, making it extremely difficult to sell the properties.
Due to this, certain developers have helped leaseholders by making funds available to help amend the terms of the lease, which is called the Deed of Variation, and amendment will ensure that ground rent doesn’t double in this way.
Amended leases will be linked to the Retail Price Index (RPI), which will result in lower charges. Our conveyancing experts at JMP Solicitors will handle all deed amendments, using fees of up £750, as supplied by property developers, to cover the necessary legal fees.
For further advice, please contact our conveyancing team on 01476 565 295 or email [email protected]
