The Rising Cost of Leasehold Properties
British home buyers who have purchased apartments or houses have found themselves facing ground rent costs that have increased dramatically over the last decade. In many cases, the ground rent costs have doubled in just 10 years.
It has not been uncommon for British home buyers of leasehold properties to find themselves owning properties that have plummeted in value because of ground rent clauses. British home buyers concerned with how ground rent affects the value of a property, or who have any questions about their leasehold property, can find the answers they're looking for here.
An obvious solution to this issue is for property developers to switch to building commonhold properties. This system of property ownership is based on shared-ownership for an indefinite period, with the property owners responsible for all services and common areas.
Commonhold property ownership is, however, not favoured by property developers. The thought of giving British home buyers ownership of individual units or properties makes bad business sense to developers who can charge ground rent and administration fees to British home buyers before sell the property freehold at a premium to investors in the future.
Springbok Properties sells 230 homes across the UK every month. Our innovative and proactive approach to online property marketing guarantees homeowners a quick sale of their property, 100% hassle-free and at NO UPFRONT COSTS. Call Springbok Properties TODAY on: 0800 068 4015 to find out more.