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Anon 16/10, 22:45. What a cynical view of how new build conveyancing works, with ‘recommended solicitors’ receiving a kick back, acting in cahoots with the ‘site office’ and whose sole advice is ‘read the lease’. Any solicitor who does that deserves to be sued for negligence or worse.

I work in this sector and do not recognise the picture you paint. Please do not pontificate on things of which you obviously have no knowledge. As regards compound interest, don’t forget that most of the leases in question are 999 year leases and so any long term valuation is meaningless. Hampton Court was built almost 500 years ago at a cost of around £50,000. It was the greatest royal palace in Europe at the time. If only somebody would offer it me me now for £50,000, I would bite their hands off.