Until transaction has been concluded . We will apportion insurance and ground rent monies held by you on completion.

We will become the landlord, and retain the ground rents as a long term investment. The long leaseholders will be informed of the sale, and we will act in a responsible manner as their new landlord.

If you don’t have all the information to hand you can give us the full street address and postcode, and we can obtain the relevant information free of charge from the Land Registry.

Elmdon Real Estate can value a ground rent in circa two working days.

Circa 8 weeks from agreeing a sale for ground rents on flats, circa 3 weeks for ground rents on houses. The 8 weeks is because of the mandatory 2 month period in which the long leaseholders have a right of first refusal. This is upon the receipt of the Section V notice’s, which Elmdon Real Estate serves free of charge on behalf of the vendor.

A ground rent is created when a freeholder( or head leaseholder) grants a long leasehold interest on part of their property. An annual ground rent is received by the superior landlord, usually with a contribution towards the service charge and insurance costs.
Most ground rents were created from the 1980’s onwards, and the start dates of leases largely tracks the residential property cycle.

You will need to provide us with the following information in the online form or by phone

• Annual income
• Lease length
• Approximate lease start date
• Number of units

We will then make you a written offer with our solicitors details, which is valid for two months from receipt.

A variety of reasons

• To free up funds for other property purchases ( land/future development projects)
• They are tired of the administration/invoicing hassle
• Moving abroad
• To release a capital sum to invest elsewhere