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Deed of variation that affects block
boajangles
Posts: 3 Newbie
Hi,
I am selling my leasehold flat and my buyers solicitors have requested (at their own expense) a deed of variation on the lease regarding the ground rent. In the original lease it states that the ground rent would be reviewed every 5 years but after contacting the management company they have reviewed this and decided to make this every 21 years (which would be in 2029). My buyer would like the lease to be changed but will this not affect every lease in my block? How would this work? I cannot afford to wait a long time for this as my purchase is ready to exchange and I have already had a chain collapse on me previously, losing me a good deal of money.
Any advice would be appreciated.
I am selling my leasehold flat and my buyers solicitors have requested (at their own expense) a deed of variation on the lease regarding the ground rent. In the original lease it states that the ground rent would be reviewed every 5 years but after contacting the management company they have reviewed this and decided to make this every 21 years (which would be in 2029). My buyer would like the lease to be changed but will this not affect every lease in my block? How would this work? I cannot afford to wait a long time for this as my purchase is ready to exchange and I have already had a chain collapse on me previously, losing me a good deal of money.
Any advice would be appreciated.
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