Chief rent charge redemption with Estates and Management Ltd

frankiefoo

We are very close to exchange on our house however the seller currently pays a chief rent of £4.50 per year to Estates and Management LTD. As the clauses in the land charges are not acceptable in their current form to our lender due to being drawn up in 1925 (so draconian measures should you default 🙄) our sellers are just going to buy out the remaining charges (less than £100) According to my solicitor all we need is E&M LTD to accept the redemption of the rent charge in order to proceed to exchange. I cant see this being an issue as our seller said there was an offer put to him to buy it out on the online system. However his solicitor has been trying to get a the documentation & agreement from E&M for nearly a week to no avail...has anyone had any experience of this situation and can advise on time scales to sort? 

eddddy

That company doesn't seem to have a good reputation for doing things quickly: https://uk.trustpilot.com/review/e-m.uk.com

Will you still have to deal with them after your purchase? e.g. pay them Service Charges etc.

frankiefoo

Yes I've seen the reviews shocking! 
No I shouldn't think so as the rent charge owing will then be paid off? Tgere are no further charges attached to the property. My Solicitor is awaiting Redemption of rent charge certificate so that our lender will be happy for us to proceed....hoping to complete in 3 weeks🤦‍♀️

KSS1991

@frankiefoo did you manage to get this resolved and complete?

archiepea

Hi i am also wondering if you got the documentation to confirm the rentcharge was paid off from E&M eventually, an were able to proceed...
Thanks