Check your current ground rent against mortgage lender thresholds, project how it grows under your review clause, and understand whether it could affect your ability to sell or remortgage.
Enter the details from your lease. You can find these in your lease document or ask your managing agent or solicitor.
In the UK property market, "Onerous" is a term used by mortgage lenders to describe ground rent terms that could make a property difficult to sell. While your lease is a private contract, CML (Council of Mortgage Lenders) guidelines dictate what high-street banks will accept.
Most lenders, including Barclays and Nationwide, flag ground rent exceeding 0.1% of property value as a risk. For a £300,000 flat, any rent above £300/year is statistically "onerous."
If ground rent is over £250 (£1,000 in London), your lease becomes an "Assured Tenancy" under the Housing Act 1988.