Sale fallen through for second time close to exchange

tink_1983

Looking for some advice. 
We are selling 8yr old 3 bed semi with leasehold garage under coach house.

Next door sold last month with same set up.

First sale buyer pulled out due to concerns over garage - buildings insurance can be asked for by the free holder, never has been in 8yrs...but could be. Confirmed by freeholder they may in future but have no intention to atm. Worst case it would be 1/5 of the policy due a year.

Second sale- builders have a First charge on the house due to the site service charge. Buyers solicitors took issue with this and raised it to mortgage company who wanted a variation of deed.. which the builders agreed too but didn't meet their standards so buyer pulled out.

Now have we just been dreadfully unlucky?
Should I change my solicitor? 
This site has 300 houses all with the charge on them by the builders for the service charge.. guessing all the ones selling have got through with this on the Deed. 

We've been let down twice and I don't think it's my agents / solicitors fault.
Anyone got any advice for me? 
The first charge the builders company were willing to amend it but would not change it totally, which my solicitor said is not unusual as alot of new builds have these.

Our vendors are willing to wait for us to find a new buyer. But I will be honest I'm terrified it'll fall through again.

Any suggestions on action I can take ? 

Octothorpe

No advice, but sorry you've had to go through this 😞

sheramber

Should I change my solicitor? 

Why do you think  a different solicitor would help?

Keswick1uk

Can't see your solicitor has done anything obviously wrong? It's just assessments  of your ownership and third parties being jittery over them. 

GDB2222

Is this a rentcharge that you are talking about?

tink_1983

GDB2222 said:

Is this a rentcharge that you are talking about?

Its a service charge for the estate. The buyers solicitors said it read as a rent charge which was the issue. They offered to reword it slightly but it was not to her satisfaction 

tink_1983

sheramber said:

Should I change my solicitor? 

Why do you think  a different solicitor would help?

I don't know. Just venting I guess. Struggling with it failing twice

Thrugelmir

tink_1983 said:

GDB2222 said:

Is this a rentcharge that you are talking about?

Its a service charge for the estate. The buyers solicitors said it read as a rent charge which was the issue. They offered to reword it slightly but it was not to her satisfaction 

Most likely the mortgage company is the issue. A second charge blocks their ability to sell the property if so required. 

tink_1983

Thrugelmir said:

tink_1983 said:

GDB2222 said:

Is this a rentcharge that you are talking about?

Its a service charge for the estate. The buyers solicitors said it read as a rent charge which was the issue. They offered to reword it slightly but it was not to her satisfaction 

Most likely the mortgage company is the issue. A second charge blocks their ability to sell the property if so required. 

Thanks for the response. How does this work though.? We have a mortgage as do most of the 300 houses on this estate all with this charge on the Deed? 

Flugelhorn

we bought a freehold house with a service charge on it, deed of variation was done and was tested against various mortgage providers requirements in case we wanted to sell   

GDB2222

tink_1983 said:

GDB2222 said:

Is this a rentcharge that you are talking about?

Its a service charge for the estate. The buyers solicitors said it read as a rent charge which was the issue. They offered to reword it slightly but it was not to her satisfaction 

Lots of estate service charges are indeed rentcharges these days. You may struggle to sell, as buyers and their lenders have become more aware of the problem.

What alteration did the builders offer?