Mis-Guided on Leasehold sale?

[cfcboy]

Hi all

 

Im having a real struggle with the sale of a leasehold masionette I own.

 

So I originally purchased at the value of £175k as a leasehold. As it was my first ever purchase I wasnt exactly "street wise" when it came to the buying.

 

The leasehold currently has 71 years to run but at the time of purchase I was not informed that anything under 80 years would have serious issues when it came to either extending the lease or selling the property. Neither my financial advisor, estate agent or solicitor mentioned the potential costs (being quoted £13k to extend by 90 years!) and this has obviously come back to bite in a big way. Ive checked all the documents and not anywhere does it highlight its an issue through either solicitor of FA.

 

Probbaly a little late in the day now but do I somehow have a case? If I do how and where do I pursue?

Really feel like all three parties saw me coming, I had a big pot of inheitence to lay down but now the money from my fathers death is going to be wasted on paying an extension of a poxy leasehold!

 

Any advice would be greatly appreciated

[theoldrouge]

If you paid for a full survey, the surveyor should certainly have highlighted this in his report and imo you would have a case against him and also possibly your conveyancing solicitor. How recently did you purchase the property? if in the last few years I am suprised if you managed to obtain a mortgage without this being raised

[cfcboy]

I paid for the full survey but only included the lease term, nothing about the fees if left longer etc.

 

How would i pursue a claim? Not even sure where to begin

 

Thanks again

[theoldrouge]

when was the property purchased?

[cfcboy]

Q1 2007. The lease ends May 2084

[theoldrouge]

In view of when the property was purchased, and the fact that the survey noted the lease term, imo your complaint would be against your conveyancing solicitor, who should surely have picked up on and warned you about this issue. At your solicitors practice there will be a designated complaints handler to who you should send your initial complaint. The Legal Ombudsman website has much more info on how to go about and progress your complaint, and also an excellent complaint template letter that you could adapt and use in the first instance