Deed of Variation

NHSworker35

Hi all, I am in the process of buying a property in a development which requires a deed of variation for the ground rent. We have received a draft deed of variation which the lender has agreed in principle however they have asked that the same terms of the deed are offered to every other flat/lease in the development. Our solicitors have said it is very unlikely that the freeholder would commit offering the same terms to everyone. Is the lender in the right to ask for something to be provided for other flats/leases that have nothing to do with the property we are purchasing? Thanks

RedCannon94

Lender shouldn't really be asking for that. The blocker at hand is you not having cover on the property if you were unable to make payments for a handful of months so seems bizarre that they would request this.

Who's the lender?

Also out of curiosity, which company owns the properties? Currently going through a similar situation myself

MWT

NHSworker35 said:

We have received a draft deed of variation which the lender has agreed in principle

What is the nature of the variation?

Jonboy_1984

Do the leases contain a clause that they should be identical? If so surely a single deed of variation would breach the clause?