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Barclays plc Update - 4 Recent Section Changes Date Range: Last 6 Months | Change Date: 19/01/2019 | Jurisdiction: England and Wales |
| 5.14.9- If different from 1.11, contact point for matters connected with the lease: |
Usually there must be adequate ground rent to
ensure that the lessor has continuing interest in the
property: Peppercorn or low ground rent may be accepted in the following circumstances: • If the lessor is a Management Company and all the leaseholders are obliged to be members so there is no merit in paying themselves a ground rent. Check that there are adequate provisions for repairs, maintenance, insurance etc. and an adequate maintenance charge. • If the lessor covenants do not require any positive action, e.g. in the case of maisonettes. • If the lessor is the Local Authority • If the lessor is a long established company and adequate repairing and other arrangements together with a maintenance charge are contained in the lease. • If the lessor is a Housing Association or Local … | |
To see full details of this change…
HSBC
National Westminster Bank
Nationwide Building Society