We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Bloor homes - rentcharge issue when remortgaging
pagetta
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!
0
Comments
-
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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards