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Advice on Ground Rent Increase Schedule

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  • Advice on Ground Rent Increase Schedule

    Hi,

    I was wondering if anyone has advise on whether the following ground rent schedule, for leasehold flat I have made offer on, is reasonable. The flat is in Croydon area in Edwardian house converted into 5 flats.


    - New lease made in 2009, ground rent set at £250 pa
    - set to increase by double to £500 pa in 2018
    - then an increase by £200 every 10 yrs thereafter

    My conveyancer said, although he has worked on a couple of leaseholds with similar schedules, it isn't common.

    To me sounds steep compared to what other leases for similar properties, and am worried it could give problems should I wish to sell in 5yrs time or so.

    I'd appreciate thoughts/advice anyone has on this..

    Cheers
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