Professor Property Advice
My mother in law is reading through the solicitors report relating to the purchase of a flat, she was hoping to exchange contracts in the next few days. She has now realized that the service charge indicated by the estate agent of £400 per half year is actually just over £1,000 per half year and that ground rent is £200 pa rather than £50pa. She cannot afford these charges and would not have considered the property if they had been correctly relayed at the time.
She is bitterly disappointed that this may now jeopardize her related sale but also that substantial costs which she can ill afford have unnecessarily been incurred. The agent is part of a well know chain covering the south of England, do you think she has any recourse under the act?
I am not a solicitor, (Actually I am not a professor either) and therefore check with yours before acting. The PMA is a piece of criminal leglislation and doesn’t entitle you to compensation. It’s designed to deter the agents from misinforming you and gives you rights to complain and report offenders.
Do what you will in this regard but it won’t get the service charges or ground rent reduced.
Maybe the seller might exert some pressure on the agent to reduce their fees or perhaps you can renegotiate the purchase price?
Back to Buying a property»