1-star review – 216 Sedgemoor Road, Coventry, CV3 4DZ
1-star review – 216 Sedgemoor Road, Coventry, CV3 4DZ
I made an offer on 216 Sedgemoor Road, Coventry, CV3 4DZ marketed by Matthew James Property Services after the property was advertised as having £0 ground rent and £0 service charge.
The £0 ground rent was important to my decision to purchase. However, during the conveyancing process, the lease and information from the managing agent confirmed that the property actually had £150 per year ground rent paid to up to date, with the rent doubling every 25 years and it doubles to £300 in 2028.
I raised this with the relevant parties and tried to find a satisfactory way forward. Ultimately, the seller would not agree to permanently change the ground rent to a peppercorn rent, and I was offered a £500 allowance and an indemnity instead. I decided that wasn't acceptable and withdrew from the purchase.
What concerns me most is that after the sale fell through, the property was put straight back on the market and the new Rightmove listing again states £0 ground rent and £0 service charge.
I have retained copies of both the original and subsequent listings, as well as the documentation confirming the actual ground rent.
I am not making assumptions about how the information came to be advertised this way, but prospective buyers should check the lease and ground-rent position themselves very carefully rather than relying solely on the particulars.
The whole experience resulted in considerable wasted time, stress and expense during the conveyancing process. I would therefore strongly recommend that anyone considering a leasehold property marketed by this agent checks the lease and all leasehold costs independently before proceeding.
My experience was extremely disappointing and I would not use this estate agent again.
Edit Matthew James updated there Rightmove advert to reflect the true ground rent £150 per year, rising to £300 a year in 2028.
