Paying Ground Rent

wishbone

Frequent Poster
Messages
382
Not sure where I can put this thread but so I'll start here - apologies if it's in the wrong place.
My parents are looking at paying off their ground rent (to become freehold) to a company Birdfield Securities. They've been paying rent every year since 196*.
This particular company has no phone number or way to contact them other than post.
Has anyone had any experience with them? I rang the Land Registry yesterday and they said it was legit, it's just the information on how to proceed is pretty sparse on the document. It sounds like you pay 145e for an application fee and then I'm assuming they will send you a bill with the actual figure you need to pay for the ground itself.n They send you out a vesting cert which you then register with the Land Registry.

Anyway, just wondering if anyone has gone through this process and if what I have understood is correct?
Thanks!
Wishbone
 

Cervelo

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Messages
458
I have ground rent on my property, Its €19 a year it's been €19 a year since I bought the property in 1998
and probably was that amount since the house was built
I get a letter every year from the estate agent advising me that I can purchase the freehold for €1337.02 (Aug 19)
I don't know about anybody else but I'm quite happy to keep paying the yearly rent then pay that amount for the freehold
I think if it was around €500 I might consider it
 

cremeegg

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3,018
I'm quite happy to keep paying the yearly rent then pay that amount for the freehold
Do you know how long your lease is for.

Do you know what difference there is between your rights as a leaseholder and the rights you would have as freeholder.
 

Cervelo

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458
Can't put my hand on the lease at the moment but as far as I remember the lease will be still be in place long after I'm dead
and as far as I'm aware there's nothing that I need to be concerned about in relation to my rights as a leaseholder vs a freeholder
other than it would be nice to own it outright
 

cremeegg

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3,018
Can't put my hand on the lease at the moment but as far as I remember the lease will be still be in place long after I'm dead
There are certainly many leaseholds in Ireland for 999 years which is effectively for ever. Shorter periods, short enough to cause an issue for you or your heirs, although less common do exist.

and as far as I'm aware there's nothing that I need to be concerned about in relation to my rights as a leaseholder vs a freeholder
other than it would be nice to own it outright
There can be differences, i don't think they are the same across all leaseholds. A former employer of mine certainly paid significant money to purchase a freehold as without it he faced certain restrictions on his use of the property. I cannot now remember what they were. I think it had to do with a government grant for some work he wanted to do, it was only payable to the freeholder.
 

Cervelo

Frequent Poster
Messages
458
Just found my lease and it's for 999 years from 1967 so I should be dead for over 900 years before it becomes an Issue for me ;)

I know that there are certain circumstances where I would have to get the landlords permission before doing so
but other than that I've not come across any reason that would make me want to buy the freehold for the amount their looking for.
 
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