Been calling them all day

[maltrab]

I have been trying to call Welwyn 48 all day to buy one of these homes, though the ground rent is a bit steep at 25p per year

 

[Marianna]

In today's terms, 25p would be merely a peppercorn rent. I wonder how much the ground rent will be when the current lease runs out in 2921! Most of Welwyn Garden City still appears very pleasant in Google Earth Street View, but that region is terribly flat, so I'd find it uncomfortable. I'm used to being surrounded by hills.

 

[maltrab]

These houses now command a price of £700,000 upwards

 

[Marianna]

Is the ground rent still at the peppercorn level?

 

[maltrab]

Is the ground rent still at the peppercorn level?

That I don't know

 

[Barrychuckle]

Is the ground rent still at the peppercorn level?

Peppercorn ground rent now is typically £250 - £500 on most flats. That's a lot of pepper!!!!

 

[Adrian Morris]

Peppercorn ground rent now is typically £250 - £500 on most flats. That's a lot of pepper!!!!

Nothing to sneeze at.

 

[captain clutterbuck]

Looked up this curious phrase appears it comes from 16/17th where pepper was a rare and very expensive spice and even a single peppercorn was of great value , as the spice became more common the prices dropped so it was on nominal value and so the term was retained because the ground rent is now a really small percentage of the overall cost of a property.

 

[Roger]

Peppercorn rent is usually just £1 and is not expected to be paid. It's just a legal formality.