deeds of variation on leasehold

ejmi

Hi!
I'm in a process of buying leasehold flat. I'm taking mortgage. During checking documents solicitor found that tenants are responsible for maintenece and insurance which obviously is not acceptable by most mortgage company. We will need deeds od variation. I found in documents we got before deeds of variation but dated 2004 between maintanence company and pevious owner (but not our vendor as he bought in 2007). Question is: is it enough for us? In other words is deed of variation related to property (ones obtained stays on property) or tenant related (we need to get new one).
Obviously i will ask a solicitor but he's not working weekends so I'd like to know asap that's why asking you.

steampowered

If it is a Deed of Variation to the lease, then that might be enough for you. What you are buying is the lease.

Of course you'd need to read the Deed of Variation to check whether it covers the points about maintenance and insurance or something else.

ejmi

Thanks for quick answear.

I read it and it cover mainatanence and insurance. Not changing much, just saying that freeholder is responsible for this and I need to participate in costs as other tenanats in this block of flats. So similar than in leasohold really.

Of course anyway I will consult it with my solicitor beforee proceed further.

eddddy

If the lease has been varied, it will almost certainly be a permanent variation - and the other leases for the block would have been varied at the same time.

But if that's the case, it's surprising that your solicitor hasn't noticed it.

ejmi

As far as I know there is 6 flats on this block and 2 of them has deed on variation.

As I said it change "just" responsibility which is needed for mortgage and we still need to participate in maintanence and insurance cost as other.

Solicitor pick up this problem that's why we discussing.

G_M

If the lease has already been varied then there's no problem. You are buying the lease as varied.

However if only 2 of the 6 flats have had their leases varied there may be a different problem - by your (varied) lease, the freehold arranges insurance, and you (and presumably the other flat) pay the freeholder the cost.

But if 4 flats have the original lease with no variation, then they won't have to contribute to the cost so just 2 flats will be paying to ensure the whole building.

But it is more likely that all 6 flats were varied at the same time, in the same way. That is what you need to check.

Does the Deed of Variation say what proportion of the insurance you haveto pay? 1/2? 1/6th?