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Never buy a leasehold property.

 

It has taken us a year to get the lease on a flat extended  due to the land Lord p1ssing about. Had to pay for both the Tribunal AND then court action. In both cases the landlord did the bare minimum to avoid an official ruling and has delayed at every turn. Lost our very patient buyer at Christmas. Had to reduce the asking price 10% and still not getting viewings.

 

Now we have just received this from our solicitor..

 

Quote

Please note however that the Land Registry are experiencing significant delays in processing applications to register new leases (which includes lease extensions).  The current turnaround is approximately 24 months.  

 

TWO YEARS JUST TO REGISTER A LEASE !

 

 

 

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>>> I believe you can get fast-tracked if it's holding up a property sale

 

My understanding too.

 

>>> it was processed in a couple of days.

 

I had a freehold transaction close in January and the LR only took a few days to register it - I was pleasantly surprised.

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