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buying out ground rent

  • 31-10-2021 5:23pm
    Moderators, Sports Moderators Posts: 43,404 Mod ✭✭✭✭ magicbastarder

    has anyone here done this? we were sent one of the possible phishing letters a couple of months ago by an irish based agency/solicitor, so we're almost certainly just going to buy out the ground rent and avoid any further hassle.

    if anyone has done it, did you go for the consent or arbitration option with the PRAI? we don't know who the landlord is; our ground rent hasn't been collected in decades, so i guess our first step is to contact the bank our mortgage is with and ask for the copies of the relevant and required documentation. i suspect it's in their interest too to make that reasonably painless, and hopefully we can take it from there.

    am i right in thinking that the general calculation on the purchase price is just the outstanding rent payments plus a handling fee? i have seen comment that it's usually around €1k to do this, but the PRAI don't seem to mention what method they use to calculate it on their website.