Garrypark
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My solicitor has said that the doubling every ten years of the ground rent stops after 50 years, meaning that at that point the ground rent will be £8000 per year. i have withdrawn from my purchase of a two bed flat in Borehamwood. if Taylor Wimpey dont refund my depost in full, i will take legal action. in addition, i am raising this with the Office of Fair Trading. Garry
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I am purchasing two bed taylor wimpey new build flat in borehamwood. My solicitor pointed out that rent (£250 year 1), doubles every 10 years. This means at year 50, rent will be £8000 peryear. This means that ,for example, byetween yr 50 and 60, one would have to pay TW £80,000 (over that 10 year period). Hazel -sales manager at TW borehamwood said that have so far had 18 exchanges, and thatmost buyers/solicitors have raised this, but no one has pulled out! Not sure i beleive her. I WILL NOT BE EXCHANGING! Garry
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