The government confirms that from the 30th June they will be banning expensive ground rents on any new purchases on a long lease basis and will no longer apply when purchasing a home.
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Estate rent charges are commonly used by developers of new housing estates. They are a means of funding works to communal areas and ensuring that homeowners comply with obligations imposed by positive covenants. The rent charge is registered on the property title and will therefore bind subsequent owners.
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When the time comes to purchase a property many purchasers then have questions on what they need to do in order to receive the Help to Buy ISA bonus.
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