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    • Mozalini
    • By Mozalini 11th Apr 18, 2:34 PM
    • 3Posts
    • 1Thanks
    Do I have any rights?
    • #1
    • 11th Apr 18, 2:34 PM
    Do I have any rights? 11th Apr 18 at 2:34 PM
    Hi everyone - hoping someone can shed some light (sorry for the essay).
    I'm in the process of buying a shared ownership property, but we're 4 months down the line and there's still no sign of a moving date. Basically, everything that could have gone wrong, has gone wrong, but no one is accepting any responsibility and I'm the one left out of pocket.

    1. I was misinformed from day one - I confirmed with the Estate Agent 3 times that the lease was 900 years. 2 months in, the solicitor got involved and told me it's actually a short lease with 85 years left. From what I've read, if it goes below 80 years it becomes harder to sell and/or I'll have to pay thousands to extend the lease. Estate Agent issued a non-heartfelt apology and basically said 'you either want to move in or you don't'.

    2. Parking - from the moment I viewed the property I was told the parking outside was mine. Turns out two spaces right outside my kitchen window are public and not mine at all - again, found out by the solicitor 3 months in.

    3. Boiler service - the boiler is dead old, which I knew, but I was told by my EA that the seller was going to service it before the exchange. I chased and I chased and was told the seller was let down by a couple of plumbers. I then got a letter through from my solicitor saying the seller would not be providing a boiler service. So my only assumption is that my EA was lying and hadn't confirmed it with the seller at all. This means I now have to pay for the service (on top of the ridiculous premium the seller has added to the price of the property).

    4. The most important one - the mortgage! As far as I was aware, I'd secured a mortgage with Nationwide and it was all going through okay. Now, over 4 months in, Nationwide have retracted their offer because I'm paying a premium on the property. Apparently they don't offer mortgages on shared ownerships where there is a premium. I was never told this would be an issue, so I'm annoyed that I'm only finding out 4 months in. The Estate Agents have blamed my solicitor, saying it's their remit to relay this information to the lender, and my solicitor is blaming the Estate Agent, saying it should have been made clear in the initial application made by the mortgage broker as they (the solicitor) could only approach the lender once they'd received all the paperwork from the seller (which took month!).

    Now I'm facing a mortgage with higher monthly repayments, the possibility of needing to pay out to extend the lease, to shell out for a boiler service and possible a new boiler - and all this IF I can actually find a new mortgage. I'm tearing my hair out a little and I feel like no one is taking responsibility.

    I'm just fed up of being led a merry dance and told "Oh sorry about that..." and then being expected to just deal with it.

    Do I have any rights at all to complain? (I daren't do anything yet because I don't want to jeopardise the process any further!)
Page 2
    • lincroft1710
    • By lincroft1710 12th Apr 18, 3:43 PM
    • 11,249 Posts
    • 9,620 Thanks
    I will probably try and renegotiate the premium if the boiler isn't up to scratch.
    Originally posted by Mozalini
    If you're buying a property with an obviously old boiler, the probability is that it will need replacing sooner rather than later. A boiler service isn't like a car service, it's mainly to ascertain that it is in a safe condition, i.e. all the gas fittings and connections are working properly. It will probably cost around 100.

    You therefore should factor boiler replacement into your finances. You may think about making a lower offer, but this may well be countered with the statement that this was reflected in the asking price.

    The above may not be useful with the current purchase but should be borne in mind with any subsequent property you may find.
    • Doodles
    • By Doodles 12th Apr 18, 4:02 PM
    • 293 Posts
    • 437 Thanks
    I would also walk away.

    Short lease that is going to cost you, no parking when you thought it was, and now issues with the mortgage.

    Not worth the hassle.
    We are in Transylvania, and Transylvania is not England. Our ways are not your ways, and there shall be to you many strange things.

    Dracula, Bram Stoker
    • Becks12
    • By Becks12 12th Apr 18, 4:18 PM
    • 19 Posts
    • 14 Thanks
    I would also walk away. You won't be able to extend the lease until you've owned the property 2 years so you'd have an 83 year lease left.
    I live in a big development of flats, I'm currently selling mine (hence lurking on here all the time) but the other leaseholders are doing a mass lease extension. We're on 86 years and the cost is expected to be c. 15,000 per flat which is apparently quite cheap. On 83 years you could be paying a lot more than that.
    Would you be able to find that two years after buying a flat?
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