Peppercorn Rent Puns

Hello, looking for advice, We rent a piece of land (charity) and have done since the 50s. We pay a peppercorn rent of 5 shillings a year, however the land owner has said we could buy the land from him. We have been looking to find the land on the land registry and it doesn't show up anywhere? All we know is the land used to be an old ww2 MOD train station that was pulled down and sold off. We have asked local council for help but they say they cannot find the land either. Its on a canal and canals and river trust own all the land near us as nature and fishing areas.

Are there any other ways we can find the land owners proof of ownership and how we can legally buy the land so we can put a power supply in?.. once we own the land we can get lots of funding to develop into a safe running site for water based youth training center.

Thank you 😊

We are in North Lincolnshire, England

Hi all

I'm close to submitting an offer for a new build home, however I'm concerned that the garage may affect the ability for me to sell the house in the future.

The garage itself is a few metres from the back gate of the property's garden, however it is situated under an apartment, and the freehold is owned by the apartment owner. The leasehold is 999 years long, and the peppercorn rent is left uncollected by the landlord.

Has anybody else been in this situation before? Does this usually make the property harder to sell, despite the only realistic drawback being that you can't change anything within the garage?

Thank you

Right - this always raises some confusion as these types of leaseholds are very common in some areas (North West for example) but totally unheard of elsewhere!

Basically I'm talking about the leaseholds you get on old Victorian terraces rather than the modern leasehold madness with flats/new builds. These leaseholds are typically as old as the property, have minimal ground rent which is sometimes not even collected, and do not have provision for increasing ground rents.

For example my house was built in 1894 with a 999 year lease. The lease has a pre-decimalisation annual ground rent charge which was converted to the royal sum of £5/yr when decimalisation was brought in. There are no covenants in the lease (except for the fact I very specifically cannot keep cows or swine in my garden weirdly enough) at all and as such, these types of leases are more or less treated as freeholds when there are hundreds of years left.

This ground rent has not been collected for at least 13 years and interesting the ‘chief tenant’ (or words to that effect, my memory fails me – essentially someone who also lives in a property where the freehold is owned by the same people as my own) who is in theory tasked with the collection of the £5/yr ground rent had no idea about any of this and wasn’t even aware of who our freeholder was…

The freehold is owned by one of them classic freehold buying up companies, specifically one that’s known to be run by a bunch of tosspots. I contacted them via email when we moved in to explain we had indemnity insurance and if they wanted to charge ground rent based on the 6 years back-dating they can do, to go ahead and send the bill. They didn’t even reply, I assume £30 isn’t worth the effort for them.

Now, based on my understanding of the Leasehold Reform Act (from here) – The leasehold tenant has the right to buy the freehold under certain conditions, these being:

• The property must be reasonably considered a house, divided vertically from adjoining houses. It’s a bog standard Victorian mid-terrace so yeah, as house like as they come.

• You must have a long lease, “originally from a term of more than 21 years”. My lease was a 999 year lease, and still has 874 years on it.

• The leaseholder must have held the lease for two years or more (time will work on that one for me).

My understand is that should you meet the above criteria, you can service notice on y

I've fought over the last year to get a statutory lease extension granted on my leasehold flat (to be able to sell it more easily).

The lease extension has the literal phrase as used in the title: "the New Rent" means a peppercorn (if demanded)

A "peppercorn rent" seems to be something referred to as a general term but in my case is it literal as well?

I.e. Can me freeholder attempt to charge me 50p for half a year's ground rent, or should it only be half a peppercorn (if demanded)?!

Hi All,

I posted this in the /r/UKPersonalFinance but this may be more suited here.

I am thinking of making an offer on a £370,000 flat (I am going to make an offer of £355,000 max) with a 125 year from 2012 lease remaining.

The grounds rent is high at £325 and it increases with inflation every 5 years. Is this normal? The flat was built in 2014.

1. Is grounds rent increasing with RPI every 5 years normal? Or is it onerous? My financial advisor said the RPI does not concern her but the fact that it increases every 5 years is a problem. She prefers it being every 10 or 21 years.

2. If I choose to buy the flat and if I can get a mortgage, can I (after 2 years) extend the lease 90 years and ask for a peppercorn rent? Is this a legal right? I am getting contradicting information on the internet. How much will this lease extension cost approximately? Calculators on the internet tells me that it can cost as much as £40,000+. Is that true?

Thank you for your help!

Edit: The flat is inside the M25 but outside of London if that helps. It is 1 mile within the Surrey border.

Short term or long term, a week or a few months.

My house is about 2 hours by train from Budapest and the nearest airports are Vienna and Bratislava. It is by a tributary of the Danube and in a village of about 5000 called Halászi. It is 45 minutes' drive from Bratislava and about 1 hour to Vienna. It is near the rail network and accessible easily by road. The borders are open since Hungary is part of Schengen. The village has all the facilities you need.

http://en.wikipedia.org/wiki/Hal%C3%A1szi

You might be travelling and want to stop off in the area for a while. It has just had a new roof and I am planning more renovation. I will within the next 12 months either move there to live or rent it out but in the meanwhile it is better if it is lived in.

The pictures give a good idea of the house. It is pretty big and has a big garden. The peppercorn rent would just be to cover the cost of electricity and water and is very negotiable.

You could be a family or a single person or a couple. Obviously I prefer people who can stay a while like a month or more and who don't mind mowing the grass.

It is semi-furnished but has a new bathroom. It has a refrigerator, washing machine, cooker.

It will most likely be available until spring next year.

Pics are here.

http://imgur.com/a/xH3Lf#0

Edit Would ask for about €15 per week just to cover bills.

You can live in Hungary very cheaply.

Map: http://imgur.com/bIfzj

You'd be doing me a favour!

We’re looking at potentially helping out a close family member, 70s, retired, by buying them a property to live in. We would retain ownership but they’d have a right to live there for life, and ideally that’s something we can legally codify. There would be no expectation they’d pay commercial rent but they’d be happy to do some kind of peppercorn rent if it helps with tax strict etc

We’ll likely rent it out commercially after they pass away. What’s the best way of doing this from a tax perspective? There’s be no income but can we capture depreciation or anything else?

Married, total income around 750k (heavily lopsided), no other investment properties.

I don't want to step on anybody's toes here, but the amount of non-dad jokes here in this subreddit really annoys me. First of all, dad jokes CAN be NSFW, it clearly says so in the sub rules. Secondly, it doesn't automatically make it a dad joke if it's from a conversation between you and your child. Most importantly, the jokes that your CHILDREN tell YOU are not dad jokes. The point of a dad joke is that it's so cheesy only a dad who's trying to be funny would make such a joke. That's it. They are stupid plays on words, lame puns and so on. There has to be a clever pun or wordplay for it to be considered a dad joke.

Again, to all the fellow dads, I apologise if I'm sounding too harsh. But I just needed to get it off my chest.

Do your worst!

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The government's long-awaited leasehold reforms get underway this week.

MPs debate a law limiting how much ground rent can be charged on new leases. Historically the amount was nominal, but in recent years it's increased, which can make selling or re-mortgaging a challenge.

MPs will also consider the law implementing the recent Budget announcements.

While most bills are scrutinised by a small group of MPs at committee stage, important ones are considered by a "committee of the whole house" which means everyone can take part.

And Friday brings another load of private members' bills.

Time constraints mean only a few will be heard.

MONDAY 29 NOVEMBER

Leasehold Reform (Ground Rent) Bill - 2nd reading
Begins widescale reform of the leasehold system. Restricts ground rent on new leaseholds to a nominal ("peppercorn") amount. Started in the Lords.

TUESDAY 30 NOVEMBER

Microplastic Filters (Washing Machines) Bill
Requires manufacturers to fit microplastic-catching filters to new domestic and commercial washing machines, among other things. Ten minute rule motion presented by Alberto Costa.

WEDNESDAY 1 DECEMBER

Quarries (Planning) Bill
Creates a presumption against approving quarry developments near settlements. Requires the risks to health and the environment to be assessed as part of that planning process. Ten minute rule motion presented by Matt Western.

Finance (No. 2) Bill - committee stage
Implements the changes announced in the Budget.

THURSDAY 2 DECEMBER

No votes scheduled

FRIDAY 3 DECEMBER

Copyright (Rights and Remuneration of Musicians, Etc.) Bill - 2nd reading
Aims to improve rights for musicians. Measures include splitting streaming revenues fairly between labels and artists (which is already the case for broadcast usage), as well as giving artists more information on the revenue generated by their work, and the ability to adjust existing contracts if the amount paid for work is found to be unfair. Private members' bill presented by Kevin Brennan.

Acquired Brain Injury Bill - 2nd reading
Requires the government to publish a strategy for improving the delivery of public services for people with an acquired brain in

I'm surprised it hasn't decade.

My and my Wife are closing on our first house and the Warranty Deed contains: " …for and in consideration of the sum of $10.00 (ten) and other valuable considerations…" I found this to be common language in real estate contracts but i'm confused on how the actual peppercorn consideration works? Can someone please explain like i'm five :)

For context I'm a Refuse Driver (Garbage man) & today I was on food waste. After I'd tipped I was checking the wagon for any defects when I spotted a lone pea balanced on the lifts.

I said "hey look, an escaPEA"

No one near me but it didn't half make me laugh for a good hour or so!

Edit: I can't believe how much this has blown up. Thank you everyone I've had a blast reading through the replies 😂

It really does, I swear!

Buenosdillas

They’re on standbi

Pilot on me!!

I have been recently asked by many of you how much money should you invest in Shiba Inu or cryptos in general. Let me say that I wouldn't want to give any type of hint or advice, but what I can do is show you the process that investment professionals will perform in order to make sure you are protected against bad times but also have maximum benefit from the good times, whilst taking into account your risk profile.

So firstly we are all here because we have an avid interest in Shiba Inu and we believe it will rise quite significantly over the coming months and years. In many instances this rise will be a game-changer and give you financial freedom. In some it may just be a temporary change if you don't hold long enough.

When creating lottery prizes, the lottery organisers typically categorise winnings into the following:

Life changing - where it can give you full financial freedom without any help from state in the future or any employment.

Significant changing - where it can allow you to buy a new house outright, but you will still have to work and may need help from the state in the future.

Yearly changing - where it can allow you to buy a new car or put down a deposit towards a house.

Monthly changing - where the sum is under $10,000 and winners usually treat themselves to a holiday, new furniture etc...

Obviously the above sums will differ from country to country.

Now this is the amazing thing about Shiba Inu, it allows all of us to reach to life changing depending on the price of Shiba and our holdings. Plus its not a one-off event like a lottery ticket, its an investment.

So now we have to assess risk. We do this by doing a fact find. Asking simple questions but it all starts with the premise that if you are young you can take significant risk and that the older you get the less risk you take. However this is not a perfect system because there are some people who have settled down considerably by their 50's with quite sizeable savings, own property outright etc... some investors have property in their portfolios, horses, artwork, cars even plant seeds.

It is what you know and can see value in, I have a friend who collects books and purchased lots of Harry Potter 1st editions. His collection is now worth over £1m! Thats his nest egg, he still rents a flat, drives a cute little Fiat 500 and works as a train driver.

In my past I used to advise clients to do the following for their portfolio:

50% of your investment into g

Dad jokes are supposed to be jokes you can tell a kid and they will understand it and find it funny.

This sub is mostly just NSFW puns now.

If it needs a NSFW tag it's not a dad joke. There should just be a NSFW puns subreddit for that.

Edit* I'm not replying any longer and turning off notifications but to all those that say "no one cares", there sure are a lot of you arguing about it. Maybe I'm wrong but you people don't need to be rude about it. If you really don't care, don't comment.

When I got home, they were still there.

My situation: My leasehold flat has 70 years remaining on the lease. I’ve owned it for over 2 years.

I would like to extend the lease and have had two offers from the freeholder:

1. A new 110-year lease for £19,000 + ground rent of £80 per year + their costs (~£1k).
2. Go for a statutory lease extension, adding 90 years to the current lease plus a peppercorn ground rent.

I was going to choose option 1, but then I learned about the leasehold reform proposals announced earlier this year. So now I have 3 options, and no idea how to figure out which is best:

1. Informal Extension
2. Statutory path
3. Wait

How would you go about weighing them up?

What did 0 say to 8 ?

" Nice Belt "

So What did 3 say to 8 ?

" Hey, you two stop making out "

I won't be doing that today!

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