I purchased a house in 2022. It’s was build in 2018 and I’m the second owner. As it’s a new build there are estate charges of around £300 year. The house is freehold and I own all of it (with a mortgage).
Im coming up to remortgage and speaking to mortgage broker who has advised me there is a covenant on the deeds which means the management company need to produce a certificate of compliance in order for me to remortgage (or sell the house). I’ve contacted the management company about this and am sure there will be a charge for this.
My issue is that my solicitor failed to tell me about this restriction. I’ve checked my report on title. She had listed some restrictions with the management company - the need to pay their fees and need for approval for building work which I accepted.
However she didn’t mention this and in her conclusion at the end of the report says
‘the title to the Property is currently good and marketable; and
there are neither onerous restrictions or provisions affecting the Property nor other
matters of a legal nature that should deter you from proceeding in your proposed
purchase of the Property.’
Had I known that I need to obtain a certificate to remortgage or sell the property I’m not sure I’d have gone ahead with the purchase and would at the very least have negotiated further on price.
I feel I have a valid complaint with the solicitor to reimburse me any fees for obtaining a certificate and compensation for me purchasing a house without full information from her. I’m sure now it will be harder to sell in the future and / or worth less. I’d certainly have been very cautious had I been given this information and would probably have pulled out of the purchase. I’d already sold my previous house and was renting so I wasn’t in a chain and was in a strong position to buy.
Has anyone had experience of this?