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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2437
Experience:  Over 5 years in practice.
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Advice needed on LeaseholdIn 2004 as a first time buyer

Customer Question

Advice needed on Leasehold
In 2004 as a first time buyer I purchased a flat with no knowledge of the process I paid a solicitor for professional advice and to act on my behalf.
At the time I had no knowledge of leases or their implications and was given no advice by the solicitor. However now I have now decided to sell the property (it has not increased in value) it has come to my attention that there is only 63 years remaining on the lease which is causing concern from potential buyers as many mortgages companies will not give mortgages for less than 80 years. I have also been informed by the leaseholder that if I want to extend the lease I have to pay £12,500! I have also been informed by a local estate agent that this is a ridiculously high amount with an expectation to pay only £1- £2k!
Because of this issue it is already stopped potential buyers and will cause a huge loss if I have to renew the lease. None of this was brought to my attention on purchasing the property by the solicitor or estate agent.
With these facts in mind I would like to determine do I have a case for negligence or similar against the solicitor (the solicitors are apparently no longer trading) also is £12,500 reasonable and if not how can I dispute this?
Submitted: 1 year ago.
Category: Property Law
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 1 year ago.
Hi NicolaThank you for your reply Im quite happy to wait a little bit longer- many thanks- If I dont get a reply how do I request a refund couldn't find anyway of contacting anybody through the site which is a bit poor so Im glad you emailed me!Thanks
Neil
Expert:  Nicola-mod replied 1 year ago.
Hello Neil,
We will continue to look for a Professional to assist you.
You can just reply to this page if you would like a refund and I will process it for you.
Thank you for your patience,
Nicola
Customer: replied 1 year ago.
Hi NicolaIf you could process the refund that would be appreciated.Kind Regards
Neil

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