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First Purchase - Ground Rent Dilemma - Would love some advice!


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Hi All, 

I am currently purchasing my first property which is a buy to let just on the outskirts of Leeds City Centre. We are weeks away from exchange, however I have just found out that the ground rent has been reviewed this month and has been increased from £245 to £380 pa. Having looked at the lease, it is reviewed every 15 years.  Although the increase is not double as in some cases, I am still weary with the government currently bringing ground rents to light at the moment and also because it takes the ground rent over the £250 pa which seems to be the magic ground rent figure - I wonder if this will affect my ability to sell the property in the future / whether mortgage lenders will have an issue. I don't know whether to continue or avoid any future issues and walk away from the purchase. Any advice & thoughts would be so welcome. 

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