Most leasehold properties have a provision within the lease for an uplift in Ground Rent every 21 years. This will be based on a specified formula for finding a figure for the Ground Rent uplift.
However, it remains the case with many leases that whilst there is a provision for a Ground Rent Review after 21 years, that is not the same as an automatic uplift (though in practice leaseholders should expect an uplift)
The crucial difference is this. Those leases will provide for a Ground Rent Review to be carried out by an Independent RICS registered valuer, and that such valuations are to be carried out on a "block by block" basis and the full cost of such a valuation are to be met in full by the Freeholder.
Any leaseholder has the right to see a copy of the valuation and challenge the conclusions if they so wish.
About Peverel has been given information that E&M have written to leaseholders stating a Ground Rent Valuation has been carried out and giving the cost of the new Ground Rent. However, subsequent investigation proved that no valuation was ever carried out.
If your lease mentions a RICS valuation, you must insist it has been carried out.
