HSBC Mortgage on a property with estate rentcharge

deltrotter

Bought a two year old property in July and went through this. Halifax would not lend without deed of variation.

My solicitor asked the property company for it and got it within days.

I am guessing these property management companies are well used to it now!

frankiefoo

We are so close to exchange and are now having the same problem! Hsbc will not lend with the rent charge in its current form. Sellers Solicitors currently trying to get hold of Estates and management ltd to sort this....my worry is as to whether they will do it? And how long it will take to sort? Everyone in the chain was hoping to complete by 11 Dec latest 🤦‍♀️ Any help or advice to ease my anxiety levels with this please??? 🙏🙏🙏

lizzyliz_2

@frankiefoo grateful if you could let me know where you got to on this!

We’re in the process of buying a new-ish build and HSBC are asking for us to get a deed of variation or indemnity insurance. Scared of the implications of getting indemnity insurance but the management company aren’t really budging with the amendments to the title deed.

This last minute stuff is so stressful!

RoseBerni

Did your mortgage go through 
I am selling my late fathers property that has a rent charge on it
and we have no idea who it is or even if my father was aware of it
my father bought the property in 1976
he paid  a fee to Western power of £25 a year to access via the gate at the back of the property 
I’m hoping the fact that it’s an historical rent fee and not a new one means it’s ok 

ryanarrichards

I am also having the same issue, I am selling a freehold property that has an estate service charge (deemed the same as an estate rent charge) to a buyer who is using HSBC. HSBC want a deed or variation but this is going to cost us £1,000. We have instead offered them an indemnity policy and currently await to see if they will accept this.

Does anyone know if HSBC accepts an indemnity for the estate management charge?  This would save us a couple of weeks waiting for their response.