Unable to sell flat | Barratt Homes | Ground Rent |

[31collins]

Hello everyone,

Wondered whether anyone else is in the similar position related the challenges selling their flat. I own a flat in Collins Tower.

The buyers mortgage lender, Santander, only accepts ground rent reviews dicated by retail price inflation. Barratt Homes structure their ground rent reviews based on the flat price or building price. This is the 2nd buyer I have had in the last 6-months facing the same issue and unable to receive their mortgage until Barratt addresses it.

I understand from estate agents that other sellers in the development are experience the same issue and that Barratt Homes are looking into it.

First it was the cladding, now this!

I’m in the process of trying to contact Barratt and accelerate their Legal review. Anyone else facing a similar issue?

Thanks,
Ed

[steve94]

So I just bought a place in Abraham using Santander. The ground rent was tied to RPI in the leasehold I bought so it appears not to be consistent across DS.

[Mark]

Guys, this issue is one of many being addressed by the newly invigorated DSRA. Keep your eyes on your building's notice board for info on how to get involved, or speak to the concierge if there's nothing on your board yet.

[31collins]

Sept 22, 2023 10:00:46 GMT Mark said:

Guys, this issue is one of many being addressed by the newly invigorated DSRA. Keep your eyes on your building's notice board for info on how to get involved, or speak to the concierge if there's nothing on your board yet.

Hi Mark,

Thank you for the reply. I no longer live at the property (moved out since trying to sell). Are you able to send me details of how to get involved in the DSRA as I will not have access to the notice board in reception.

I understand Barratt Homes had a meeting yesterday, but I received an email from one of their senior solicators saying no decision was made. The wait continues.

Please let me know how to get involved in DSRA as I’d like to better understand what’s being done on this topic.

Thank you,
Ed