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Bloor homes - rentcharge issue when remortgaging
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Posts: 17 Forumite
We bought a bloor home 5 years ago and we pay a small maintenance charge to a management company. We are now remortgaging and absorbing the HTB loan, we were hoping to go with Halifax, but in changing lender they are insisting on a deed of variation due to the rent charge clause. They are saying this will cost £750 plus vat, and take up to 20 weeks....
I can see this clause in black and white in all the original papers, and i essentially understand the issue and that its a hot topic right now, however i'm a little confused
- no one else who is remortgaging at this point seems to have had this issue - is it just halifax? If we stay with the same lender will we negate this issue??
- is £750 and 20 weeks a reasonable estimate for the issue?
- if we do the deed of varitation will that be the issue sorted, and mean that we are ok if we ever come to sell?
I work in retirement housing so am very familiar with all the recent ground rent issues and know that these can be a political hot potato and take years to sort any sort of exemption or legislation - any advice welcome. Im happy to pay it if it will just sort the issue once and for all!
I can see this clause in black and white in all the original papers, and i essentially understand the issue and that its a hot topic right now, however i'm a little confused
- no one else who is remortgaging at this point seems to have had this issue - is it just halifax? If we stay with the same lender will we negate this issue??
- is £750 and 20 weeks a reasonable estimate for the issue?
- if we do the deed of varitation will that be the issue sorted, and mean that we are ok if we ever come to sell?
I work in retirement housing so am very familiar with all the recent ground rent issues and know that these can be a political hot potato and take years to sort any sort of exemption or legislation - any advice welcome. Im happy to pay it if it will just sort the issue once and for all!
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Comments
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If "nobody else" remortgaging now is having this issue, why not use the same lenders as them? I presume they aren't using Halifax...0
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