You may remember back in November we published a comprehensive guide to a widely-misunderstood (and oft-resented!) aspect of property ownership – ground rent.
Our guide to buying out (or redeeming) the ground rent on your property seems to have captured the imagination of our readers, as we had a massive response to the article. One such reader who got in touch was Norman, a property owner in Belfast.
He’d long been interested in the idea of ground rent redemption. Whilst he’d heard many property professionals talking about the concept over the years, when he pressed them on it, he was told it was complicated or too difficult.
Norman dropped us a line to say how impressed he was with our article; that it laid things out really clearly and simplified the process for him. He wanted to know if we would give him a hand in redeeming his ground rent, and I for one was only too happy to put one of our articles into action in the real world.
After a good chat at the office, he went away and sent the following into Land & Property Services in Belfast (LPS):
This is where we learned first-hand just how thorough Land & Property Services are, as they replied swiftly advising the following was needed to complete the application:
The solicitor’s signature was a simple oversight that Norman quickly rectified.
However, having provided a certified lease and a payment which was more than sufficient to cover redemption plus arrears and fees, we contacted Barbara McVeigh at LPS directly on his behalf for clarification. She promptly came back with clear explanations:
Above: My thanks to Barbara McVeigh for efficient and thorough work on this ground rent redemption.
Norman took the following actions:
On 13th February Norman contacted us to say he was the proud owner of a Certificate of Redemption!
Despite hitting a couple of hiccups, the process took less than 4 weeks from initial application to completion, and we have to say - the team at the LPS Ground Rent office are helpful, approachable and efficient in their work.
This is exactly why I started this blog. I’ve been in property for over 20 years, and putting all that knowledge and experience into articles that not only interest people but actually empower them to do things – well, that is something I find really satisfying.
Seeing people using the information we publish to their advantage is why we write this blog. Don’t hesitate to get in touch if there’s something you’d like us to write or do to help you today.