Just found out house we're buying is leasehold. Help!

Red-Squirrel_2

Prinzilla wrote: »

IFA has said we would have a case against the vendor as she provided incorrect information.

You'd have to be able to prove that they deliberately provided incorrect information, rather than just got it wrong in good faith. I'd honestly let the idea of getting any sort of compensation from the vendor drop, it won't happen.

Prinzilla

hazyjo wrote: »

I'd never touch a house with a shared driveway (in any form) - a third reason why I'd not buy. Careful you're not alienating too many buyers when it comes to selling. Has it been on the market long?

Out of interest, why wouldn't you? We've viewed the house multiple times at varying times of the day and there's never been an issue with parking (that we've seen) It's a big driveway, enough for 2 cars each side. It went on the market in December, we put the offer in in March.

Prinzilla

Red-Squirrel wrote: »

You'd have to be able to prove that they deliberately provided incorrect information, rather than just got it wrong in good faith. I'd honestly let the idea of getting any sort of compensation from the vendor drop, it won't happen.

The issue of the money is a moot point at the moment, as I've said before we'd rather have the house. Doesn't mean I can't be annoyed at the situation and the vendor for providing incorrect information or I'd be wrong to try and get my money back if needed. It's simple enough to submit a claim and regardless of your thoughts on success I'd still try.

hazyjo

Prinzilla wrote: »

Out of interest, why wouldn't you? We've viewed the house multiple times at varying times of the day and there's never been an issue with parking (that we've seen) It's a big driveway, enough for 2 cars each side. It went on the market in December, we put the offer in in March.

My sis has one and has had a few issues. I've known others with them too - all had probs, and of course seen lots and heard lots other stories from people generally.


Not to mention a lot of people won't touch them, making them harder to sell on.


At some stage in ownership, there will prob be issues. Whether that's someone taking the p*** with parking, or access, or thinking it's okay to say 'got someone parking here for however long, just knock when you need them to move the car', or whether repairs are needed and one party won't/can't pay, or when one wants to pave it in sky blue pink slabs and the other wants a resin drive, crazy paving, whatever. It's just asking for trouble IMO. Some will be perfectly happy - but that's often until one set of neighbours sells and another moves in.

Tiglet2

The vendor's solicitor does have to forward a copy of the lease to your solicitor. Not sure if you can download it from the Land Registry. I use the Land Registry as a business user so I can obtain official copies of the lease and other documents, but I'm pretty sure you can request a copy or ask your solicitor to send you a copy. Has your solicitor received the draft contract pack? If so, then the lease should have been part of the pack.

Prinzilla

hazyjo wrote: »

My sis has one and has had a few issues. I've known others with them too - all had probs, and of course seen lots and heard lots other stories from people generally.


Not to mention a lot of people won't touch them, making them harder to sell on.


At some stage in ownership, there will prob be issues. Whether that's someone taking the p*** with parking, or access, or thinking it's okay to say 'got someone parking here for however long, just knock when you need them to move the car', or whether repairs are needed and one party won't/can't pay, or when one wants to pave it in sky blue pink slabs and the other wants a resin drive, crazy paving, whatever. It's just asking for trouble IMO. Some will be perfectly happy - but that's often until one set of neighbours sells and another moves in.

Neither of us even considered that, can tell we're new to this! Thank you

Prinzilla

Tiglet2 wrote: »

The vendor's solicitor does have to forward a copy of the lease to your solicitor. Not sure if you can download it from the Land Registry. I use the Land Registry as a business user so I can obtain official copies of the lease and other documents, but I'm pretty sure you can request a copy or ask your solicitor to send you a copy. Has your solicitor received the draft contract pack? If so, then the lease should have been part of the pack.

I think that's what they're waiting for, she came back to me this morning and said her colleague is preparing the report so she's going to forward our queries to her and get back to me today.

hazyjo

Prinzilla wrote: »

Neither of us even considered that, can tell we're new to this! Thank you

Also, if they have cars in the way, they may think it's okay to drive over your half to exit, or they may 'tinker' with their cars on a weekend, or have cars that leave oil stains, be unsightly, or whatever. There may be weeds that come up which they may ignore whereas you might want it weed free, or jetwashed and the other half may be filthy. What someone does on their own drive is up to them. When it's shared, you have to put up with how they treat their half.


I'll prob think of more lol. It's best to go in with your eyes open - I know it's hard when it's all new. Every house you ever buy will be a learning curve for the future!

Prinzilla

So I've just had a look at the land Registry, the freehold is owned by the Housing Association. Does anyone know the chances of them selling it to us?

TBagpuss

The rent may be minimal but you do need to look at whether (and how)( it can be increased, whether there are any service charges, and whether there are any restrictions in the lease, for instance requiring explicit consent for work to be done on the property.

It may be possible for you to negotiate a slightly lower price if you do decide to go ahead, o if you really don't want leasehold, then you may have to cut your losses and walk away.

It's worth considering whether leaseholds are common in your part of the country - if a high proportion of properties are leasehold then it's likely to be less of an issue when you come to sell than if it's only the ex-HA properties and modern new builds which are.