What do you think?

[grannyjanny]

We live in a house which we own & pay an annual ground rent of £20. We have been offered the chance to buy the freehold for £650. We are now 66 & almost 61 years old. Is it worthwhile & any experts out there would it add any value to the property.

[grannyjanny]

[saddad]

If you have the cash yes... how long is left on the "lease" before it has to be re-negotiated... ?

[grannyjanny]

About 63 years left I think Saddad.

[saddad]

Won't be your problem then... do you have a benefactor for the house in mind? They may want to join in the costs...  :-\

[macmac]

I can't answer your question Grannyjanny but when we bought our house nearly 30 years ago we used to get a bill annually for our garage ground rent (the house is a different plot ???) then they offered us a purchase  price we were so hard up we couldn't afford it ,so declined.Then a few yyears later we stopped getting bills just an odd one a couple of years ago.I think the cost of collecting these rents must of outweighed their value.Maybe somebody will knock on our door demanding zillions one day :o

[Emagggie]

Beneficial to have total control over your own property, Grannyjanny. Consultation with a solicitor is a must though.

[Digeroo]

Maybe somebody will knock on our door demanding zillions one day

I do not think that this can happen.  I think that they can only go back 5 years. 

[ACE]

Offer them half. It must cost them to collect and administrate. I bet they will jump at the chance to get rid of the burden.

[rosebud]

 Consult the CAB office first please. do it legal or not at all. ;D ;D

[Sholls]

Offer them half. It must cost them to collect and administrate. I bet they will jump at the chance to get rid of the burden.

Agreed! Unless you're lucky you'll probably need to spend the other half on solicitor's fees, too get everything 'legaled'. ;)

[1066]

go for it GrannyJanny, and as others have said get some good advice