Historic rent charge - How to solve quickly?!?

The house we are buying has a historic rent charge (not estate charge) of £3 a year. Just before exchange HSBC (our lender) have said they are not happy with the rent charge and want it redeemed before they will mortgage it.

I've asked the gov department who are involved in the formal charge redemption process and they say the process takes about 4-5 months currently, which isn't an option.

Our other options may be:
- Pay off the rent charge directly with the rentcharge owner and get informal notice from them that it has been paid off.
- Ask to change the terms of the rent charge so that HSBC are more okay with it.
- Not sure what else.

Majorly panicking. Has anyone been through this before? Are there other options available? Are either of the mentioned options likely to work?
Sign In or Register to comment.
Latest MSE News and Guides

Martin and MSE campaign win

April's 20% energy price guarantee hike postponed

MSE News

Childcare budget boost

More support for children from nine months and those on Universal Credit

MSE News

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools