Hi folks
We're currently looking at buying the freehold on our block of flats, but we're keen to find out rough costs before we start: the most significant of which I'm guessing is the freehold. There are several calculators online to give you a ballpark figure of the freehold value, but they all assume a fixed ground rent where as ours are stepped.
Lease information is as follows and I'd be grateful for any views, advice, or if anyone had had a recent experience with similar values that could help give us a ballpark figure.
There are 4 flats in the block: 2 are worth circa £125k, one circa £110k, and the final one circa £130k
The leases were granted in May 1999 for 99 years. Ground rent is £100pa for the first 33 years (i.e 19 years remaining on this level), then rises to £150pa for the next 33 years, and then rises again to £450pa for the final 33 years
The block is located on the South Coast.
Many thanks for any views or opinions
Best wishes
Stephen
We're currently looking at buying the freehold on our block of flats, but we're keen to find out rough costs before we start: the most significant of which I'm guessing is the freehold. There are several calculators online to give you a ballpark figure of the freehold value, but they all assume a fixed ground rent where as ours are stepped.
Lease information is as follows and I'd be grateful for any views, advice, or if anyone had had a recent experience with similar values that could help give us a ballpark figure.
There are 4 flats in the block: 2 are worth circa £125k, one circa £110k, and the final one circa £130k
The leases were granted in May 1999 for 99 years. Ground rent is £100pa for the first 33 years (i.e 19 years remaining on this level), then rises to £150pa for the next 33 years, and then rises again to £450pa for the final 33 years
The block is located on the South Coast.
Many thanks for any views or opinions
Best wishes
Stephen