Ground Rent Claims
We are currently acting for a large number of claimants against conveyancing solicitors arising out of the ground rent scandal.
Over the period 2005-2015 a number of major developers sold new properties on long leases with a relatively modest initial ground rent, which then escalated rapidly, often doubling every ten years. They would often encourage buyers to use their “recommended” conveyancing solicitors.
These toxic ground rent provisions have rendered many properties unmortgageable and virtually unsaleable.
Conveyancing solicitors (particularly those “recommended” by the developer) often failed to point out the escalating ground rent clauses to their clients, who consequently bought long leaseholds oblivious to the toxic ground rent provisions. Alternatively, even where the conveyancing solicitors did explain the mechanics of the ground rent clauses, they frequently failed to warn the client as to the consequences.