16:10 PM, 1st June 2015, About 7 years ago 14
I have been in a process of buying my first BTL.
All was going well up until this last week of exchange of contracts but the seller solicitors have informed that there are no lease documents governing the property.
My solicitor is now in negotiation with the seller to pay for indemnity insurance and also in touch with my mortgage lender to see if that’s OKwith them. My solicitor also said ” Although we don’t have a copy of lease, we do have title deeds from the land registry that confirms that there is 143 years left on the lease of property”
Now my concern is, will it be difficult in selling this property in near future if I wanted to?
Also, in case we decide to extend the lease in future, will that be possible without these papers?
Should I hold my horses to buy this property given the fact all papers are not in place.
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