Inconsistent ground rent on lease

HWG

Hi all,
I bought a new build property last year, and am being asked to pay a ground rent higher than what I signed for.

The freeholder has produced a copy of the lease with the higher amount, signed for by them only. My signature does not appear to be on any documents with the higher amount.

The problem is, I don't hold a copy of their signature against the lower amount. So it seems we have never signed the same version of the lease.

I'm going to try and push to pay the lower amount (the amount that I agreed to and signed for!), but I'm concerned that I could face some nasty legal liabilities if the freeholder decides to use the lack of lease against me.

So, my questions are:
In the absence of an agreed lease, what risks am I exposed to? And what risks is the freeholder exposed to? Who has more to lose?
Would my solicitor be liable for any losses I incur? Presumably it was them that failed to ensure the same version of the lease was signed.
Should I push for the lower amount, or should I panic and sign the higher amount retrospectively in order to remove my exposure to risk / legal action?

AdrianC

How big a difference are we talking about?

davidmcn

What does the agreed form of lease in your purchase contract say?

HWG

AdrianC wrote: »

How big a difference are we talking about?

£150 extra, doubling every 25 years. Not a huge amount, but I resent paying it if I never agreed to it.

davidmcn wrote: »

What does the agreed form of lease in your purchase contract say?

I've just checked and that page of the contract is missing in my copy. Hmm...

martindow

HWG wrote: »

I've just checked and that page of the contract is missing in my copy. Hmm...

Are the pages numbered? If you've got 1,2 and 4 there is a noticeable discrepancy.

davidmcn

HWG wrote: »

I've just checked and that page of the contract is missing in my copy. Hmm...

Query with your solicitor then (assuming you haven't already).

HWG

**UPDATE**

My solicitor made an error and myself and the freeholder never signed the same lease. Yikes.

My solicitor has now offered a small sum of money to sign for the higher amount.

I've calculated the present value of the difference in amounts (using Excel's PV formula and an average capitalisation rate) and came up with a value of about £12k for their mistake.

At present, I'm intending on pushing them to compensate me by this amount, as it was entirely their error, and I'm not keen to take a hit to my annual ground rent and ultimately the value of the property.

Any advice on pursuing this? Seems like they don't have a leg to stand on but I'd obviously rather resolve it amicably and out of court.

G_M

Tricky.

Clearly there's a £150 annual amount extra you'll be paying for the next 25 years (£3,750).

But then the GR doubles, so for the next £25 years there's a greater cost (etc).

But more problematic is the possibility of the property having a reduced value when you come to sell........

HWG

G_M wrote: »

Tricky.

Clearly there's a £150 annual amount extra you'll be paying for the next 25 years (£3,750).

But then the GR doubles, so for the next £25 years there's a greater cost (etc).

But more problematic is the possibility of the property having a reduced value when you come to sell........

Exactly. So I'm wondering if my solicitor has any possible defence, or whether it's an open and shut case. I'm also wondering what the correct way of determining the present value of this error.