Ground Rent: what is it?...
24 May 2018
What is Ground Rent?
Sometimes when buyers purchase a flat or house, it is a leasehold property. This means that the ground it is built on is not included in the sale and is owned by what is called the freeholder. This makes the buyer a leaseholder, and they are essentially a tenant of the freeholder with a very long-term tenancy agreement.
It means that an annual payment called ground rent is made to the freeholder, and that in many cases the leaseholder must request permission from the frRead more