seller wants to pull out for taking too long

matt90sw

AdrianC said:

matt90sw said:

they're waiting on something from the freeholder that say the ground rent wont go up past £250 a year so the banks will lend money on it

What does the lease say about the GR amount and increases?

Can I not hold solicitor's liable for failling to act quick enough?

The delay is with the freeholder replying, isn't it? How's that either solicitor's fault?

Well shouldn't they have raised the enquiry months ago? they must've know what was gonna be needed for the sale to go though?

SpiderLegs

matt90sw said:

they're waiting on something from the freeholder that say the ground rent wont go up past £250 a year so the banks will lend money on it and wont put it up to a stupid amount should I fail to pay the mortgage and need to reclaim it, this enquiery was raised 3 weeks ago and I dont really understand why it wasn't done at the very beginning as this must be the same for any other leasehold property. Can I not hold solicitor's liable for failling to act quick enough?

  So if this is a three week old enquiry what was holding it up for the previous four months then?

GDB2222

matt90sw said:

AdrianC said:

matt90sw said:

they're waiting on something from the freeholder that say the ground rent wont go up past £250 a year so the banks will lend money on it

What does the lease say about the GR amount and increases?

Can I not hold solicitor's liable for failling to act quick enough?

The delay is with the freeholder replying, isn't it? How's that either solicitor's fault?

Well shouldn't they have raised the enquiry months ago? they must've know what was gonna be needed for the sale to go though?

I agree. However, you can point out to your sellers that other buyers will have the same issue, so they need to sort it out.

steampowered

Make sure you are on top of your solicitor to understand exactly what is outstanding from who.

AdrianC

matt90sw said:

AdrianC said:

matt90sw said:

they're waiting on something from the freeholder that say the ground rent wont go up past £250 a year so the banks will lend money on it

What does the lease say about the GR amount and increases?

Can I not hold solicitor's liable for failling to act quick enough?

The delay is with the freeholder replying, isn't it? How's that either solicitor's fault?

Well shouldn't they have raised the enquiry months ago? they must've know what was gonna be needed for the sale to go though?

So what DOES the lease say...?

Without knowing that, we have no way of knowing if this is a realistic concern, or if it's some half-baked nonsense.

When did the lender raise this as a concern, if they actually have?

Kyresa

Remember your solicitor acts for the lender as well as you. 
If they have not explained to you why they have raised this enquiry, read this...  https://www.mishcon.com/news/publications/real_insights_-_property_update_05_2017/assured_tenancy_traps__the_unexpected_ast_05_2017
Some lenders are happy if there is a mortgage protection clause in the lease (so that they will not apply to determine the lease without advising the lenders that there are arrears and giving the lender opportunity to clear them (and then passing the costs on to you of course!))  

Maybe speak to your solicitor and find out if this is the reason for the delay.