I don't want this flat anymore.

davidmcn

As above the provisions you're concerned about in the Lease are pretty normal (as I'm sure your solicitor could advise you), so it would be daft to pull out and risk a big bill when you're likely to have the same issues with any alternative property.

And next time don't exchange contracts if you don't know what you're doing!

eddddy

AnotherLoser said:

Basically I guess we just don't know enough about leases. There have been some things that weren't in the legal pack have come up in the "report on title" that the conveyancer sent over that have left us thinking about what we're getting into, but might be perfectly normal...?

It says we have to paint the outside of the flat every 5 years in a colour of the freeholder's choice and the inside every 3, and that we can't rent it out without permission in writing and not for more than 3 years even then, or sell it without without permission in writing.

I would be 99% certain that the information you mention was in the auction legal pack.

The legal pack would have contained the lease, and the 'rules' that you mention (painting, consent to rent etc), will all be covenants in the lease.

The conveyancer has simply read the lease and other docs (that were in the auction legal pack), and summarised them for you, and called the summary a "report on title".  The conveyancer won't have seen any other documents, only those that were in the legal pack.

Obviously, it's too late now, but before you bid at the auction, you should have either

• read the lease yourself, or
• paid a conveyancer to read the lease etc to prepare a "report on title" for you

Having said that, those lease covenants look fairly standard. But you should still read the lease to make sure that you understand all the other covenants.

hazyjo

If it was in auction, and you've not read the legal pack or lease, I'm wondering what else you've missed if you're unfamiliar with how leasehold works. Auction properties often have something that makes them hard to sell. (Presuming it was an auction and not 'modern method of auction'.

I presume it was a cash purchase?

How many years are left on the lease?

diggingdude

Complete and sell like deanatrois suggests

steampowered

It sounds like you have no option but to go ahead and complete.

If you didn't complete you'd forfeit your deposit. You could be liable to the seller for damages, though in reality most sellers would just keep the deposit and remarket.

You do get funny clauses in leases sometimes. I suspect it is unlikely that the painting clause would ever actually be checked or enforced. 

AdrianC

Why would you bid on a flat at auction if you didn't know what was in the lease...?