Refund from developer.

SmashedAvacado

Yes indeed. But we have to work on the assumption that his lawyers have asked some questions and the developer via its lawyers has refused to answer them - because that is what we are being told. If it was a non-issue then the solicitors would be able to demonstrate that this was the case.  Clearly if this issue was enough for the deal to fall over, then it must actually be an issue. Its not surprising at all that others have not spotted it. most bulk conveyancing is done to a shockingly low standard

Fosterdog

Are you sure your solicitor was that on the ball if the first you heard of an issue with your mortgage provider pulling out was after persimmon informed you they were pulling out of the contract? Why didn't your solicitor inform you of this issue before contracts were pulled? Why didn't they discuss possibly changing to a different mortgage provider and would this ransom strip actually cause a problem?

Thrugelmir

Ultimately the delay in exchange was costing the builder money.  28 day exchange period is in place for a reason. After over 4 months seems as if an impasse was reached. Whatever clarification was provided wasn't sufficient for your solicitor (or possibly lender). 
How many plots are on the development? Rather odd that this issue hasn't been flagged up by others. 

AdrianC

SmashedAvacado said:

Yes indeed. But we have to work on the assumption that his lawyers have asked some questions and the developer via its lawyers has refused to answer them - because that is what we are being told.

Or the developer have given the same answer as every other buyers' solicitor has accepted, but the OP's isn't...

phillw

AdrianC said:
Or the developer have given the same answer as every other buyers' solicitor has accepted, but the OP's isn't...

Wasn't it the lender who objected to the answer?
Although I certainly wouldn't blame the OP's solicitor for being pickier than the others. You only have to look at the way many missed the misleading freehold clauses that developers put in hoping that solicitors (including the one they recommended) would overlook, to see why you want one that is meticulous.

AdrianC

The OP's solicitor is also the lender's solicitor. The solicitor has indicated to his clients that he is not satisfied, and one has agreed.

No, I'm certainly not blaming the OP's sol - we don't know the full story, but it appears that he's done the job correctly, while those on kickbacks from the vendor have shown where their true loyalties lie.

scholesfan88

I'm going through something very similar at the moment. We reserved a new build on an estate which has now been completed and house builder has moved on.

Our solicitor has flagged up the road isnt adopted and there is no section 38 agreement in place, only a draft copy.

Currently awaiting on a decision if our lender will still release funds, however we had paid £2.5k for flooring which is now fitted plus a £500 reservation fee. Inc solicitors fees, were about £4k in.

The developer has given a deadline day of Friday to exchange which is impossible. Their solicitors have lied on the initial enquiries stating a section 38 was agreed and in place, but the local authority search flagged up that it wasnt, and they can't supply a signed copy of it.

rachel230

There have been similar cases where the information was not clear or transparent at the outset. How can you agree to something/sign a contract when the full facts are not disclosed?
If you are prepared to stand your ground and threaten/take court action, they will cave in and usually refund you in full. Join the National Leasehold Campaign Facebook group and you will find others who have done the above with a successful outcome.

davidmcn

rachel230 said:

There have been similar cases where the information was not clear or transparent at the outset. How can you agree to something/sign a contract when the full facts are not disclosed?
If you are prepared to stand your ground and threaten/take court action, they will cave in and usually refund you in full. Join the National Leasehold Campaign Facebook group and you will find others who have done the above with a successful outcome.

The issue the OP is talking about has nothing to do with leasehold tenure or anything which the developer would have planned to conceal from buyers, it's (allegedly) a c0ck-up with the extent of their title.

rachel230

There are a wide range of issues discussed. This one has come up on a number of occasions.