Hi there, I am really concerned that I'm not getting the correct information. We are in the process of buying a leasehold with share of freehold property. Once we'd made our offer and a copy of the leasehold was submitted to my conveyance it transpires that the lease only had 79 years to run. The Vendor has since obtained a lease extension (for 999 years) and this has been submitted to the Land Registry three week ago. My conveyancer has requested a copy of the extended lease from the Vendor Solicitors several time but they simply respond that we have to wait until the Land Registry have processed it. My conveyancer is saying that they do not need to wait for the Land Registry registration to go through and that they can review and 'report' on it before this has happened. Who is right?
Thank you for your reply. I have chased this via the Estate Agent by phone several time already and I would like to put something in writing to them now. Would the following be reasonable to send to Vendor (with a copy to my conveyance to send to the Vendor's solicitor)
I understand from various discussions with my conveyancers that they have requested on several occasions a copy of the new lease you've submitted to the Land Registry but to date, this has not been provided and the only response received from your solicitor has been to report the current back-log at the Land Registry.
It is quite usual for a copy of the deed of variation/new lease (however they’ve done it) to be provided (particularly when there is a particular time pressure to exchange/complete (as is the case here))
It may be the case that your Solicitor is waiting for l registration has been completed and returned by the land registry and provide the two documents together. (If there was a mistake with it which the land registry discovered then they would have to rectify it and if they had already provided documentation to your solicitor then it would be a bit more work for them).
However, this approach is likely to cause a further delay as my conveyancer will then need to review and report (which they could be doing now).
I would be extremely grateful, if you could instruct your solicitors to release a copy of the new lease as soon as possible.