GGT1965
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Ground Rent Administration Fees
GGT1965 replied to GGT1965's topic in Residential and Commercial lettings/Freehold issues
Yes. A couple of years ago I sent them the plans for the extension that had already been approved by the council and the wanted the £600 admin fee to "peruse" them. I put all the extension plans on hold and then last week I requested a quotation to by the freehold. They then came back with the figure of £2250 plus legal costs but my neighbour purchased hers a couple of years ago for around £1000 including legal costs. I think I'm on their radar from the initial plans query a couple of years ago, as they know I want to extend the property, so they're coming back with an inflated price to purchase the freehold. -
Ground Rent Administration Fees
GGT1965 replied to GGT1965's topic in Residential and Commercial lettings/Freehold issues
Thanks for the info. I sent them an email and asked how they had come to the figure of £2250 to purchase the freehold as I had been told by neighbours they had paid significantly less and had also used an online calculator which had given me a ballpark figure which was again significantly less. They have replied and reduced the amount by £150 but i am still going to offer a lower amount and see what they come back with. Thanks for the reply -
Ground Rent Administration Fees
GGT1965 replied to GGT1965's topic in Residential and Commercial lettings/Freehold issues
Thanks for the info, I've dropped Andydd a PM as you suggested -
Ground Rent Administration Fees
GGT1965 replied to GGT1965's topic in Residential and Commercial lettings/Freehold issues
After putting it all on hold I have now got the quotation of what it will cost to purchase the freehold on my property. It's £2250.00 plus a contribution to the freeholder's costs of £576.00. How do I know if this is the correct sum ? It's a 999 year lease and the property was built in 1984 so there's 969 years left on it and the Ground Rent is £40.00 per year. I did have a look at trying to work it out but the calculations always refer to "the tables" and I cannot get access to these tables anywhere. They are called Parry's Valuation and Investment Tables. Any advice or suggestions welcome ! The quotation is only valid for 8 weeks so I need to get some advice as soon as possible !! Thanks in Advance -
Ground Rent Administration Fees
GGT1965 replied to GGT1965's topic in Residential and Commercial lettings/Freehold issues
Thanks, I'll give it a try -
Ground Rent Administration Fees
GGT1965 replied to GGT1965's topic in Residential and Commercial lettings/Freehold issues
My house is leasehold and the ground rent is £40.00 a year. They charge yet another admin fee of £48.00 for a Freehold quote. -
Hi, I'm a new user so hope I've started this thread in the right place !! I am planning on having an extension built on to my property and the plans have been passed by Stockport council. I emailed the Ground Rent company and informed them of the intention to extend. They replied to my email and asked me to forward copies of the plans which I did. There was no mention of "Admin Fees" in the email. Today I have received a letter from them stating "We wish to confirm that the fee in connection with considering the possibility of granting the consent is £600.00" This will take 10 working days and if I want to expedite sooner then a further £144.00 is required. How can they justify that kind of fee ? Their statement only says this is for "considering the possibility of granting consent" so they could just say No ! Help !! Thanks
