Such buyers can deal with the investment company directly to buy the freehold title, and take up any issues with their conveyancing solicitors.
Pete Redfern has responded to a homebuyer who bought a Taylor Wimpey property from the original owners.
His reply reads:
Having looked into the background, we note that you did not purchase your property directly from Taylor Wimpey. As a result, we are not able to comment on the sales process or the information that was made available to you at the time of your purchase.
In terms of the lease documentation, the rent review provisions are worded simply and clearly in the lease and are contained prominently in the first clause under the rent review heading.
We would expect all solicitors to explain both the leasehold nature of a property and the terms of any rent reviews to their clients, along with any other key terms of the lease. If you have any concerns about the legal advice you received when you purchased your property, we would suggest that you speak to the conveyancing solicitor you used for the transaction, in order to discuss this.
If you have concerns about the price the current freeholder is quoting, or their approach, we recommend that you discuss your concerns, and what options might be available to you with regard to your lease, with them directly. You may also wish to consider seeking professional advice on the valuation.