Ground rents are payable on leasehold properties in England and Wales, but not Scotland, which operates under a different legal system. As with all leasehold properties in England and Wales, ground rents are a condition of the lease for our apartments. They are set by PegasusLife at the outset of the development and are highlighted during the sales process to all customers.
We make sure that ground rents are fair and do not increase at an unreasonable level, in fact they will only increase inline with the Retail Price Index (RPI).
Our ground rents are fixed for the first 15 years. The second ground rent review is on the 10th anniversary of the first rent review.
The third review - and any other future rent reviews - can only be made after another ten years (and on each ten year anniversary).