Buying leasehold property

thumpertwinkle

Around 12 weeks into purchase of a property and the vendor has not given the head lease document to their solicitor and there has been no confirmation of ground rent being up to date. The vendors solicitor has proposed an indemnity insurance but my solicitor is saying this is not adequate. The landlord is not missing so she says the vendors solicitor should contact them for a copy of the head lease and to confirm payments are up to date. Getting very frustrated now, I just want the property to complete!

ognum

thumpertwinkle wrote: »

Around 12 weeks into purchase of a property and the vendor has not given the head lease document to their solicitor and there has been no confirmation of ground rent being up to date. The vendors solicitor has proposed an indemnity insurance but my solicitor is saying this is not adequate. The landlord is not missing so she says the vendors solicitor should contact them for a copy of the head lease and to confirm payments are up to date. Getting very frustrated now, I just want the property to complete!

Don't agree to the Indemity Insurance get this sorted out before exchange or it will be a problem later.

thumpertwinkle

So my solicitor is correct to not accept the indemnity insurance then? That's what my solicitor says, I could end up with a bill for unpaid ground rent from present owners.

G_M

Just go ahead without the lease/payment confirmation.

OK, possibly you'll discover later that the lease prohibts cooking in the demised premises, or you might be presented with a large bill for unpaid service charges/ground rent, but hey! that's all the future and you might win the premium bonds first.

ognum

G_M wrote: »

Just go ahead without the lease/payment confirmation.

OK, possibly you'll discover later that the lease prohibts cooking in the demised premises, or you might be presented with a large bill for unpaid service charges/ground rent, but hey! that's all the future and you might win the premium bonds first.

Have you started imbibing early tonight?

Richard_Webster

1. Your solicitors need to see what is on the head lease.

2. Fact that someone is being difficult might indicate they don't want to contact the lessor because he/it has a bad reputation for being difficult and causing trouble - e.g. looking on Google Earth and discovering an extension for which consent is required in lease but has not been given - they will give consent on payment of £5,000. Some lessors are like that!

shopbot

Won't the freeholder also have copies of the Lease and be able to give the status of ground rent payments?

SB

thumpertwinkle

Richard_Webster wrote: »

1. Your solicitors need to see what is on the head lease.

2. Fact that someone is being difficult might indicate they don't want to contact the lessor because he/it has a bad reputation for being difficult and causing trouble - e.g. looking on Google Earth and discovering an extension for which consent is required in lease but has not been given - they will give consent on payment of £5,000. Some lessors are like that!

Thanks Richard, there is no extension on the property so that isn't an issue. My solicitor doesn't understand why vendors solicitor hasn't contacted the landlord to get a copy of the head lease. She says they should do that as the landlord is not missing.

thumpertwinkle

shopbot wrote: »

Won't the freeholder also have copies of the Lease and be able to give the status of ground rent payments?

SB

That is what my solicitor is saying and the vendors solicitors offer of indemnity insurance is not sufficient.

It is really annoying me now though as this is all that is holding things up!!

G_M

thumpertwinkle wrote: »

Thanks Richard, there is no extension on the property so that isn't an issue. My solicitor doesn't understand why vendors solicitor hasn't contacted the landlord to get a copy of the head lease. She says they should do that as the landlord is not missing.

Richard has explained why they might not have contacted the LL - the extension was just an example.

Of course, the vendors solicitor might also be incompetant....

thumpertwinkle

My solicitor says they are a very well known and reputable though, i think that is why she cannot see why the vendors solicitor has not contacted them apart from in her words not getting off their backsides!!