Dec
6

Hidden freehold charges

Onerous ground rent provisions in leases has been widely reported and with fears it could render many homes unsaleable in the future, the government created a consultation paper to tackle issues such as doubling ground rents every ten years. That opening sentence will not come as news, however did you know that it has now come to light that freeholders who would have traditionally owned the land their home sits on and been free of ground rents and service charges, are finding costly covenants contained within their title deeds? Freehold householders are being charged thousands to contribute to the upkeep of shared green areas and open spaces, on top of the taxes they already pay to local councils. Read more about this story from Today’s Conveyancer here.