Our house was build in the mid-60s and is leasehold on a 999 year lease. Didn’t seem to be anything weird in the lease, council looks after the cul-de-sac etc.
The ground rent is £12 pa and the freeholder is asking for £1300 to buy the freehold. About 20 houses on the street, some to pay less, we’re paying the max sort of figure as they’ve done their homework and know we have a larger than average plot and have built on it. We would obviously like to buy the freehold but 100x ground rent cost seems excessive.
Not sure if this is a fair figure or whether we could realistically negotiate. Any thoughts?