Showing results for tags 'taylor wimpey ground rent'.
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Hi all I am in the phase of exchanging contracts for a Taylor Wimpey apartment I am looking to buy in East Croydon. This evening I received the contract from my conveyancer ( who was recommended by Taylor Wimpey). Many people have suggested that there are hidden clause in the contract which I should carefully note and if not happy inform my conveyancer. While reading I realised a clause suggesting Ground Rent to be 250 pounds doubling every 10 years ? ? with the lease of the flat being 125 year , the amount of ground rent payable during the last 10 years would be astronomically high 512,000 (half a million). Can someone advice whether this is common - or a money making gimmic applied by Taylor Wimpey - what can I do on this front. I also noticed the contract does not specify any date of completion which is worrying as I have heard horrific stories with the same developer not completing on time. Thanks
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