Deed Of Variation On Lease - What Is The Process

MustStopSpending

Here's the brief outline - We are buying a leasehold flat and freehold title to the block (only two flats in block) we have requested amendments to the lease as there is currently no monthly maintenence charges in place.

The top flat have agreed to this change and the current owners of the flat we are buying solicitor is preparing a draft deed of variation for our solicitor to have.

My question is once this deed is with my solicitor and approved what happens next? It is the only thing holding up our purchase, deposit, mortgage offer etc is all in place and we are keen to move in asap.

Thanks for your help!!

Richard_Webster

Other flat's owner's solicitor and their mortgage lender have to approve the deed of variation and the flat owner will have to sign it and the mortgage lender will also have to sign the deed or another document approving it.

Has the other flat owner instructed a solicitor?

MustStopSpending

This is what my solicitor has said in an email -

I have asked for the owners of the top floor flat to enter into a deed of variation now so that we can hold the deed with the freehold title.

They are not in a position to register the deed against their flat due to their lenders but the fact that we will hold a copy will suffice as I will register it against the freehold.

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As it stands he is just waiting for the draft deed now. And then what?!

Thanks so much!

MustStopSpending

Bumped - can anyone help?!

Fire_Fox

Have you asked your solicitor?

Richard_Webster

They are not in a position to register the deed against their flat due to their lenders but the fact that we will hold a copy will suffice as I will register it against the freehold.

I don't think the Land Registry will allow registration against the freehold title unless other lessee's mortgage lender have released it!