What happened: Blackstone Solicitors were instructed in June 2016 on behalf of a married couple who had purchased a property in September 2013 which was their main residence. The couple purchased the property for the sum of £225,000.00 and their former property solicitor advised them that the property was subject to a 99-year leasehold interest.
Damages: After a number of years, the couple intended to re-mortgage the property and conducted a search on or around 2015. The search results showed that there was actually 56 years remaining on the lease, as opposed to 99 years and they were not advised of the impact of the short leasehold interest. This culminated in the couple being unable to re-mortgage the property due to the short lease and the mortgage payments increased. The couple attempted to remedy the situation by seeking to extend the leasehold interest and the freehold interest, however, the costs were substantial and sought legal assistance.
What Blackstone Did: After the couple were turned away by a number of law firms, Blackstone Solicitors agreed to take the case on and tenaciously pursue the former solicitor of the couple for professional negligence. We issued court proceedings against the firm (who employed the property solicitor) for failure to carry out its services to the couple with reasonable skill and care under the Supply of Goods and Services Act 1982.
Outcome: Settlement was reached and the couple received payment of 85% of the damages claimed in the court papers and legal costs. The damages paid for the purchase of the leasehold interest and the freehold interest and in the couples own words “All the advice, patience and support you guys have given us has been fantastic. We’re delighted with the result.”