How long a delay to process if we need to reduce offer?

Gavin83

Even if the vendor agrees to it straight away it might well delay the purchase enough that you won't meet the SDH, especially given you've only got 3 weeks. Personally in your shoes I wouldn't ask, I think the risks outweigh the benefits, especially given the cost is less than the stamp duty saving. It is of course your call though.

Crashy_Time

lookstraightahead said:

Buying a leasehold or share of a freehold can get very expensive - please do your due diligence and factor it into your affordability.

is it an old property? 

Good advice.

Crashy_Time

Gavin83 said:

Even if the vendor agrees to it straight away it might well delay the purchase enough that you won't meet the SDH, especially given you've only got 3 weeks. Personally in your shoes I wouldn't ask, I think the risks outweigh the benefits, especially given the cost is less than the stamp duty saving. It is of course your call though.

But if the OP pulls out the next buyer will be discounting the SD AND the costs, and the house may even be "down-valued" by the next survey depending on market conditions, so they could end up with an even lower offer?

KP20

lookstraightahead said:

Buying a leasehold or share of a freehold can get very expensive - please do your due diligence and factor it into your affordability.

is it an old property? 

Not particularly old and purpose built. We have factored in extra contributions on top of the service charge for things like this so affordability will be fine. Just a bit annoying to have to fork out the moment you land, so to speak.