Wondering if anyone else has been in same situation? We had offer accepted on 1st floor flat in July, the lease was written in 1800’s and had a few errors in it. It was re-written and now reads much clearer and is more up to date. It’s a share of the freehold so lease also being extended to 999 years.
The newly written lease was quickly approved by the seller and seller’s solicitor (that was obvious as they will have no continued interest in the property once it’s sold) but it’s now been with the ground floor flat owners/their solicitor for over 5 weeks. They changed their solicitor 4 weeks ago – we assumed this was because the one they had wasn’t very responsive – but it’s dragging on nonetheless. The last the EA had heard was that it was taking longer as it was with “a senior panel” for approval – i asked what this meant, he didn’t know. My best guess was their newly appointed solicitor/case worker wasn’t as proficient as senior colleagues at reading leases?
Our solicitor and EA said they don’t understand how it can take so long to read over a lease; if there’s an issue with any of it you would imagine they would have responded saying just that, but so far nothing. Messages have been left for their solicitor and them from our solicitor, the EA and the seller (he must have their number).
Does anyone know if it carries on for much longer would it be possible to put a deadline on it i.e. “If we don’t hear back from you by (date) we will assume you are happy with the newly written lease”? Going to email our solicitor today to ask but just wondered if i’d get a quick answer on here.
I assume as the lease is being extended they are having to pay a premium to extend it. If the other owners have disputed the amount bring requested for the premium they can take the matter before a panel who will look at evidence from surveyors etc (like a mini court hearing) to determine what premium is payable for the extension. It can take some time. The freeholder will want all leaseholders to have the same lease. Check if that is what they mean.