Ground Rent Claims
Professional negligence claims arising from ground rents on leasehold properties are a relatively new phenomenon. They arise because of the tendency for the developers of new housing estates to keep the freeholds of the properties they have built, and only sell the leaseholds to their buyers. Where a property is leasehold, under the terms of the lease, ground rent usually has to be paid to the freeholder on an annual basis. In many of these leases, there are clauses which enable the freeholder to double the ground rent figure regularly, which can mean properties become unsellable, when the ground rents get to high. The good news is that it might be possible to recover losses from the conveyancing solicitors who dealt with the leasehold property purchase. In many cases, these solicitors will have failed to explain the consequences of ground rent clauses to buyers, meaning they can bring a claim for professional negligence against them.
A new law later this year will mean new leaseholders no longer have to pay ground rent, but existing leaseholders are not so lucky.18/03/2022
Under new plans, unfair ground rents could be banned for new builds, but what about the people who are already stuck with escalating charges and properties they can't sell?17/01/2022
The nation's biggest building society has announced plans to tacked spiralling ground rents which negatively affect the value of leasehold property.10/05/2017
Would property owners stuck with spiralling grounds rents be able to claim against their conveyancing solicitors?03/03/2017