Britspeak help needed--Purchasing flat: working on mortgage papers

Ok, so I THOUGHT I understood why there is a big to-do about the leasehold numbers.
And there's 123 years left on the leasehold of the place that we have successfully bid upon.

And now the mortgage administrator wants some number crunching information.

I know he wants to know about the service fees for the place. Check.

And he wants to know the years on the leasehold. Check.

Is he asking me about the annual?regularly timed? cost of the lease? He seems to be asking about some monetary number? Any ideas? Or should I just go back to the mortgage administrator and admit I don't know WHAT he's asking.


Any advice appreciated!

Best,
Rutabega

If it's a leasehold then there will be a yearly "ground rent" that must be paid, after all you are leasing the land.  I assume that's the figure he wants.

I think you should go back and ask him again, because I'm not sure what you're asking about in your original question. The length of the lease - that's 123 years, ok. The ground rent could be one thing, but what about maintenance fees? Those are frequently separate, but some places only have one. You might just want to double check with him.

Service fees & ground rent are 2 separate charges.  Ground rent is usually quite small and can even be nominal, but it's still something you need to find out.  Ask the agent.

Ok, so it is the ground rent that I need to determine!
Fabulous! Thanks! It is much appreciated!

Best,
Rutabega