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retrospective consent to lease on repossessed house
tonyfn77
Posts: 1 Newbie
Hi was wondering if anyone could help me. I am having problems selling my property. I bought the house as a repossession. The Bank’s Solicitors could not locate a Landlord for the property so took out indemnity insurance. After moving in the property I started receiving letters from a Property Management Company who act on behalf of the Landlord request payment for ground rent. This was paid in full on time and is up to date.
I am now selling the property and the Property Management Company are saying that they cannot find any record of being approached for granting consent for the assignment or charging of the property as required under the terms of the lease.
The ground rent portfolio is in good order however the licence to assign and licence to charge are missing from the file and this would suggest that there have been breaches of the covenant relating to the relevant transactions.
We are being advised we cannot sell the property until this is sorted out and are told by our solicitors that we have to apply for a retrospective consent to lease the property. In addition the indemnity insurance we have taken out apparently doesnt cover this situation and so any fees we incur from a solicitor to write and sort this out we are not covered by the insurance.
Would anyone know how much this retrospective consent is likely to cost us , is there a standard fee? Is It up to the landlord/ property management company? Is it appropriate to write to the management company ourselves as we feel we are getting nowhere with our solicitors? Any help would be greatly appreciated as we are frustrated beyond belief. We feel we have done everything we were advised to from day one.
I am now selling the property and the Property Management Company are saying that they cannot find any record of being approached for granting consent for the assignment or charging of the property as required under the terms of the lease.
The ground rent portfolio is in good order however the licence to assign and licence to charge are missing from the file and this would suggest that there have been breaches of the covenant relating to the relevant transactions.
We are being advised we cannot sell the property until this is sorted out and are told by our solicitors that we have to apply for a retrospective consent to lease the property. In addition the indemnity insurance we have taken out apparently doesnt cover this situation and so any fees we incur from a solicitor to write and sort this out we are not covered by the insurance.
Would anyone know how much this retrospective consent is likely to cost us , is there a standard fee? Is It up to the landlord/ property management company? Is it appropriate to write to the management company ourselves as we feel we are getting nowhere with our solicitors? Any help would be greatly appreciated as we are frustrated beyond belief. We feel we have done everything we were advised to from day one.
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