If you bought your new build home on a Long Leasehold, you may not have been made fully aware of the implications of doing so. You may have suffered loss as a result.
Claims are now being made against solicitors for their failure to advise appropriately about the disadvantages generally caused by purchasing a new build property on a leasehold basis and also on the specific onerous terms that there may be in the lease.
General disadvantages in buying a property on a long leasehold basis as opposed to buying on a freehold basis:
- You do not own the property
- You pay a Ground Rent and Service Charge
- The property will be a less attractive proposition to potential buyers
Examples of relevant onerous Specific Clauses in the Lease:
- The Ground Rent payable increases by a significant amount each year
- There is a short window of time in which a buyer may convert the long leasehold to a freehold
- There may be specific restriction on the ability to make alterations to or even sell the home
If any of the above points were not made clear to a buyer, there is a potential claim against the solicitor acting in the purchase of the property. Claims are currently being made by Buyers who have lost out financially as a result of the above.
We are happy to assist in these claims but there are strict time limits for doing so. Accordingly we would ask that you contact us as soon as possible.
Please contact our dedicated Leasehold Negligence team to discuss whether you may have a claim, Our team can be contacted free on 0330 300 1103 or you can request a call back and a member of our team will contact you.
If we decide that you do have a viable claim, we will offer to act for you on a No Win No fee basis.