Vendor changing his mind re: lease

AdrianC

Where do you stand? Outside the EA window, looking at what else is available.

You do not need to be the pawn in somebody else's divorce battle.

Are the EA somebody naughty? <shrug> They only know what their client tells them. Finding out the truth is your solicitor's job.

Is he doing something naughty? Well, he hasn't actually sold anything to anybody.

JonMitchell

Hi Rikk

From your OP, your intention is to buy a flat within a block BUT the vendor changed his/her mind to give freehold to the whole block.

If my assumption is right, that effective gives you a share of freehold - not freehold. Only in England and Wales, as far as I do understand a lot of highstreet mortgage lenders DO NOT lend to flats that are Free Hold. I would suggest you clarify with vendor if its share of freehold or freehold.

I am in a somewhat similar situation like yourself, am interested in a new built flat within a block and was initially told by the EA that there will be share of freehold BUT NO LEASE - which turned out to be rubbish chuntering by the EA, not to mentioned money (with legal) and time wasted. However the many knowledgeable people here on this fourm is FAB!

rlkk

AdrianC wrote: »

Where do you stand? Outside the EA window, looking at what else is available.

You do not need to be the pawn in somebody else's divorce battle.

Are the EA somebody naughty? <shrug> They only know what their client tells them. Finding out the truth is your solicitor's job.

Is he doing something naughty? Well, he hasn't actually sold anything to anybody.

Yes, obviously I’m not proceeding with the purchase now. I couldn’t, even if I wanted to. I’ll be looking at other properties once I’ve saved up enough to replace the £1,000+ I’ve wasted. My only question is whether there’s a chance I’d get any of that money back by complaining to the property ombudsman or similar. From your response, it sounds unlikely, which is useful to know. Thank you.

rlkk

JonMitchell wrote: »

Hi Rikk

From your OP, your intention is to buy a flat within a block BUT the vendor changed his/her mind to give freehold to the whole block.

If my assumption is right, that effective gives you a share of freehold - not freehold. Only in England and Wales, as far as I do understand a lot of highstreet mortgage lenders DO NOT lend to flats that are Free Hold. I would suggest you clarify with vendor if its share of freehold or freehold.

I am in a somewhat similar situation like yourself, am interested in a new built flat within a block and was initially told by the EA that there will be share of freehold BUT NO LEASE - which turned out to be rubbish chuntering by the EA, not to mentioned money (with legal) and time wasted. However the many knowledgeable people here on this fourm is FAB!

Sorry to hear you’ve had similar problems. What happened with your flat in the end? Surely very unusual for a new build to have no lease; the developer would be shooting themselves in the foot by making their properties harder to sell. Hope it all works out for you. I agree, the advice on this forum is invaluable.

Edit: forgot to clarify, turns out the vendor of ‘my’ flat doesn’t own the whole freehold, nor does he have a lease on the flat, so he won’t be selling it as a freehold or share of freehold (or, indeed, leasehold) property anytime soon!

AdrianC

rlkk wrote: »

I’ll be looking at other properties once I’ve saved up enough to replace the £1,000+ I’ve wasted. My only question is whether there’s a chance I’d get any of that money back by complaining to the property ombudsman or similar.

About as much chance of Boris telling the truth and keeping his trousers zipped.

And you haven't wasted it. The money you paid your solicitor has been well spent.

JonMitchell

I am still contemplating putting in an offer at this stage. The vendors EA is good at chuntering but simply rubbish! I am hoping to secure a 999yrs lease instead of a 125 yrs lease for the apartment I am considering really. It's a new built with only 5 apartments in the block, with equal share of freehold, so I am told by the chuntering EA.

Wishing you plain sailing from here, it's never easy with flats......

rlkk

JonMitchell wrote: »

I am still contemplating putting in an offer at this stage. The vendors EA is good at chuntering but simply rubbish! I am hoping to secure a 999yrs lease instead of a 125 yrs lease for the apartment I am considering really. It's a new built with only 5 apartments in the block, with equal share of freehold, so I am told by the chuntering EA.

Wishing you plain sailing from here, it's never easy with flats......

Thanks, and good luck!