Deed of variation mortgage offer

Slou123

Our mortgage offer runs out in two weeks. 

The solicitor decided two weeks ago we needed a deed of variation for the management company to not throw us out if we don’t pay rent charge.

on Thursday it was agreed (finally) that this would be done and the vendors solicitors has requested one from management company and put forward the deadline.

has anyone experience of DOVs and is this quick possible?

stressed, my credit is not the best due to past abusive relationship so options are not great and our current mortgage No longer has the product if we need to renew which would mean more deposit that we don’t have 

K_S

@slou123 I'm sure the mechanics of it can perhaps be done in 2 weeks but with all the people involved - your solicitor, Man co, their solicitor and the to and fro between these parties, I suspect they'll all need to be very much on the ball to get everything turned around in 2 weeks.

I've had a couple of cases over the years with dov issues when clients were buying 5-10 year old properties with non-compliant rent charge clauses and in those cases afaik these things took months to resolve.

I hope the solicitor has explored the possibility of the lender extending the offer.

Slou123 said:

Our mortgage offer runs out in two weeks. 

The solicitor decided two weeks ago we needed a deed of variation for the management company to not throw us out if we don’t pay rent charge.

on Thursday it was agreed (finally) that this would be done and the vendors solicitors has requested one from management company and put forward the deadline.

has anyone experience of DOVs and is this quick possible?

stressed, my credit is not the best due to past abusive relationship so options are not great and our current mortgage No longer has the product if we need to renew which would mean more deposit that we don’t have 

Slou123

K_S said:

@slou123 I'm sure the mechanics of it can perhaps be done in 2 weeks but with all the people involved - your solicitor, Man co, their solicitor and the to and fro between these parties, I suspect they'll all need to be very much on the ball to get everything turned around in 2 weeks.

I've had a couple of cases over the years with dov issues when clients were buying 5-10 year old properties with non-compliant rent charge clauses and in those cases afaik these things took months to resolve.

I hope the solicitor has explored the possibility of the lender extending the offer.

Slou123 said:

Our mortgage offer runs out in two weeks. 

The solicitor decided two weeks ago we needed a deed of variation for the management company to not throw us out if we don’t pay rent charge.

on Thursday it was agreed (finally) that this would be done and the vendors solicitors has requested one from management company and put forward the deadline.

has anyone experience of DOVs and is this quick possible?

stressed, my credit is not the best due to past abusive relationship so options are not great and our current mortgage No longer has the product if we need to renew which would mean more deposit that we don’t have 

They won’t extend our offer at the tame rate and no longer do 90% LTV so we’ll have to find a new provider 😭