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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10412
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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My brother is buying a leasehold flat. His solicitor says everything

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My brother is buying a leasehold flat. His solicitor says everything is ready except they cannot get a response from a recently appointed Management Company. Is there a document which his Solicitor can draw up and agree with the seller's solicitor to allow him to complete the transaction prior to full disclosure of information from the management company, and protecting his financial exposure risk by going ahead?
Submitted: 1 year ago.
Category: Law
Customer: replied 1 year ago.
Please note that I have just changed my email address to ***@******.*** in my account details online.
Expert:  Aston Lawyer replied 1 year ago.
Hi, has your Brother received any service charge/ ground rent details at all? is your Brother having a Mortgage? Kind Regards Al
Customer: replied 1 year ago.
None of those details have been received. Apparently the management company are "new" and have not supplied any information yet. He does not need a mortgage and he is ready to pay cash for the flat. It has now been 11 weeks since he agreed the purchase and instructed his solicitors.
Thanks for your help, Richard
Customer: replied 1 year ago.
Is it perhaps feasible for my brother to request the solicitors to prepare and agree some form of undertaking or indemnification that the terms of the management agreement will have no financial liability beyond that in place with the seller?
Expert:  Aston Lawyer replied 1 year ago.
Hi Richard, thanks for your reply. As your Brother doesn't require a Mortgage, ultimately, it is his decision whether to instruct his Solicitor to proceed without this information. However, he will strongly be advised not to proceed without the information, and that would be my advice also, for the following reasons- the information will include confirmation as to whether or not there is any planned major expenditure in the foreseeable future for the development ( a new roof for example, which would vastly increase the service charge)/ if there is going to be an increase in the service charge and obviously how much it is currently/ any arrears of service charge and ground rent become your Brother's responsibility once he has purchased (although the Solicitors could agree to hold £x pending confirmation of any arrears)/ it will confirm the necessary fees payable to the Freeholder/Management Company by your Brother upon becoming the new owner, to include any requirements they have if for example your Brother is to become a shareholder in the Management Company. Without this information, your Brother's Solicitors job isn't completed and he will want this information before advising your Brother to complete his purchase. However, it is your Brother's decision at the end of the day, whether he proceeds without it- does he really want to proceed without any service charge information? I appreciate it has taken forever for this information to come, but sadly, with all Leasehold purchases, the Managing Company's Sales pack often delays matters, and it is just a case of being very patient for it to arrive. I hope this assists and sets out the legal position. Kind Regards Al
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10412
Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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