Category: Defective Lease
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When the Lease Does Not Include the Room You Thought You Bought
A legal case highlighted the risks of discrepancies between a property’s sales description and its actual legal leasehold boundaries. A buyer faced substantial losses when she discovered an attic room was not included in her lease. It underscores the importance of thorough due diligence and clear understanding of lease terms during property transactions.
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Defective Lease: What to Check From When You Bought
You’ve found a buyer for your flat, or you’re moving to a better mortgage deal. Then your conveyancer comes back with news you didn’t expect: there’s a problem with the lease. Not with the building, but with the document itself. A defective lease can hold up a sale or a remortgage for weeks or months.…
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Accord Mortgages Changes Its Requirements for Defective Leases
Accord Mortgages has clarified when indemnity insurance may resolve a defective lease and when a missing Mortgagee Protection Clause requires a Deed of Variation first.