The UK's independent property information site
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The UK's independent property information site
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04-14-2009, 12:59 PM
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Lost lease
I am buying a flat in a block of 4 but the Land Registry has no copy of the lease. They must have had sight of if at some time as short particulars are entered on the property register. The flat is a repo so little chance of getting it from the previous owenr. The previous morgage company also failed to keep a copy. Another problem is that the property is deemed subject to escheat. The solicitor seems to think there is no solution. Anyone know differently?
Any help would be much appreciated. 
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04-14-2009, 08:33 PM
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Does the mortgage company that provided the mortgage not have a copy? I would have thought they would.
__________________
Community spirited? http://www.AshfieldFOCUS.com
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04-15-2009, 01:08 PM
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If the mortgage company are in posession of the property, it is their responsibility to have the correct paperwork. I think it is now up to them to speak to the lease holder (or should that be freeholder... basically, I mean the owner of the land the properties are built on) to get a duplicate of the lease. Otherwise, they will never be able to sell it. (I guess it serves the mortgage company right for being a bit quick at reposession without checking it has all the paperwork.)
Can't the mortgage company approach the solicitors who dealt with the purchase for the previous buyers to see if those solicitors have the paperwork?
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Community spirited? http://www.AshfieldFOCUS.com
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04-15-2009, 02:56 PM
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Thanks for that Ash. That's what I thought. The added complication is there is no freeholder because it is in escheat. I'm not concerned about that because we can buy if from the crown. Our solicitor seems to think that it would be prohibitively expensive to rewrite the lease but surely the Halifax should be liable for this? I think our soclicitor may not be up to scratch on leases.
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05-05-2009, 05:39 PM
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Lenders used to have all the "deeds" and documetns sent to them by solicitors following completion of a purchase with a mortgage. Because the Land Registry no longer issue certificates, many lenders have taken to not wanting documents such as leases and they end up in this situation now.
It will be very difficult for them to sell the property now and it serves the lender right for being so sloppy.
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RICHARD WEBSTER As a conveyancing solicitor I hope this post is helpful (for English/Welsh property only) but no liability is accepted for it.
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