Flat buying shenanegans!

[Jog On]

Mrs Jog is buying a flat, we were set to exchange and complete a couple of weeks ago but it's been held up by the Freeholders.

2 days before we were due to exchange our solicitor was notified by their solicitor that the freeholders wanted a character reference and a bank reference (she's been approved for the flipping mortgage!) to see if we're Ok for the service charge.

They also slipped in at the end "Oh and by the way - the service charge is actually 25% more than you were told originally"

I can't help feeling that the timing of this "Oh by the way" isn't an accident. Is there a way i can find out what the other leasholders are paying? I've found the service charge company on companies house and can get their reports if necessary.

This 11th hour goalpost move has completely screwed everyone around - we've given notice for a specific date to our landlord, we've booked builders who we've now had to put on hold, the vendor has moved his tennant out and now has an empty flat....

Any of you seasoned property warriors ever come across anything like this before? The 25% service charge increase in itself won't actually make a difference but the way it's been slipped in just before we exchange along with a demand for references that has delayed the whole process has <Aussie accent>really got my goat!</Aussie Accent>

[sasguru]

Mrs Jog is buying a flat, we were set to exchange and complete a couple of weeks ago but it's been held up by the Freeholders.

2 days before we were due to exchange our solicitor was notified by their solicitor that the freeholders wanted a character reference and a bank reference (she's been approved for the flipping mortgage!) to see if we're Ok for the service charge.

They also slipped in at the end "Oh and by the way - the service charge is actually 25% more than you were told originally"

I can't help feeling that the timing of this "Oh by the way" isn't an accident. Is there a way i can find out what the other leasholders are paying? I've found the service charge company on companies house and can get their reports if necessary.

This 11th hour goalpost move has completely screwed everyone around - we've given notice for a specific date to our landlord, we've booked builders who we've now had to put on hold, the vendor has moved his tennant out and now has an empty flat....

Any of you seasoned property warriors ever come across anything like this before? The 25% service charge increase in itself won't actually make a difference but the way it's been slipped in just before we exchange along with a demand for references that has delayed the whole process has <Aussie accent>really got my goat!</Aussie Accent>

Tell 'em to fook orf. The flat will be worth 25% less in a couple of years.
Lucky escape for you.

[Wilmslow]

Ouch!!

Surely your solicitor can sort something out?

As for a bank reference. I used to work in a branch, we did not do references, so got no idea what they are after.

However, we would have no problem printing a back office statement of the accounts with a covering letter saying thanks for your refeence request - please find the attached. Worth asking your friendly back babe in a nice way who is likely to sort this

[Jog On]

Ouch!!

Surely your solicitor can sort something out?

As for a bank reference. I used to work in a branch, we did not do references, so got no idea what they are after.

However, we would have no problem printing a back office statement of the accounts with a covering letter saying thanks for your refeence request - please find the attached. Worth asking your friendly back babe in a nice way who is likely to sort this

Our solicitor is just accepting the situation. We asked him for the last 2 year's reports and he said something along the lines of I'll provide you with 3 years as soon as contracts are exchanged..

I've just sent him an email asking for them now and that I've found the compnay name/number so will begin my due diligence forthwith!

[AtW]

Is that you Wilmslow?

[Jog On]

Is that you Wilmslow?

Who me or him?

[Sausage Surprise]

I'd tell them to shove the flat!

[Clippy]

Personally, as others have said, I'd play hard-ball with the vendors too.

I would imagine they are un-likely to find another buyer soon if at all until next Spring.

I'd also have a word with the solicitor to remind him he should be acting in your interests and not just going for the easy option.

[Paddy]

This is quite serious. It appears that the freeholder and management are taking the leaseholders for a ride. I would suggest telling the freeholder that you want references from the leaseholders regarding their opinion of the freeholder. ( go and knock on the tenants doors and ask them) Leaseholders have a right to take over the Freehold and even manage on their own however most leaseholders are pathetic and don't want the bother. Do some research in the library for the same.

I maybe wrong, but my gut feeling is that your solicitor is a twat or maybe he as left his legal assistant to deal with the purchase. As far as I know, the freeholder can't stop the purchase between the leaseholders.

Get a copy of the lease and read it and then read it again and again. If you don't understand what you are signing, you will be in deep tulip.

If needed sack you solicitor!