Confused over leasehold on property

Caitlinelle22

Hi,

I’m in the middle of buying my first home and everything seemed as if it was coming together but now I’m worried there may be a hold up to do with the leasehold on our propert and wondered if anyone can help me make any sense of it?

There is a leasehold on our land for 999 years (about 915 years left) with a ground rent of £5.50 a day that’s been in place since the house was built in the 1930’s - not uncommon where we are buying as all the houses built then have leaseholds on the land. What I’m confused about is it seems the lease was transferred/bought by someone else at some point and our solicitor has asked our seller to confirm they have “benefit of the lease” - what does this mean?

Also the estate agent has come back today to say the sellers solicitors are awaiting a response from land registry regarding the lease on the property as it appears there was an error when applying this to the title - any ideas what this means and if it’s likely to cause long delays?

I’ve gone back to my solicitor and asked her to confirm what this all means but sometimes they seem to speak in another language and I was hoping someone here could put it in plain English for me thanks!

Caitlinelle22

Whoops sorry I meant a ground rent of £5.50 a year not a day!!

davidmcn

Caitlinelle22 wrote: »

I’ve gone back to my solicitor and asked her to confirm what this all means but sometimes they seem to speak in another language and I was hoping someone here could put it in plain English for me thanks!

If you don't understand what your solicitor is saying to you, tell them, and get them to continue explaining it to you until you do understand it. This is what you're paying them for!

We can only speculate about what the problems actually are, as we haven't seen the titles etc.