PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Im about to lose the sale of my home ,can anyone please help or advice please

2»

Comments

  • eddddy
    eddddy Posts: 16,384 Forumite
    First Anniversary First Post Name Dropper
    edited 4 February at 7:20PM


     FWIW, your assumption in your earlier post seems to be wrong. You don't appear to have a doubling ground rent:

    "A number of property developers in England pledged to assist leaseholders by entering into ‘Deeds of Variation’ to vary the ground rent terms in their leases from doubling ground rents to RPI-linked (inflation) ground rents."

    The real problem is that you have RPI rent reviews every 5 years, and no mortgagee protection clause.

    So the buyer wants a Deed of Variation to change the lease to say RPI rent reviews every 10 years, and to add a mortgagee protection clause.

    " I am in receipt of your correspondence dated 03/11 regarding the lease not having mortgagee protection clause and the ground rent frequency of increase being every five years in line with RPI. The minimum period of review is ideally 21 years but we can accept a deed of variation to a 10 year review period as long as any increase is in line with RPI no other calculation allowed. "

    However, it sounds like you and your solicitor have jumped through most of the loops that you need to.

    But as I said before, Scanlons are a Management Company, and generally not a freeholder. Your deed of variation needs to be signed by the freeholder.  So it sounds like you might be blaming the wrong people.


    Solicitors don't really do "chasing" - like phoning people up and asking them why there is a delay - so it's up to you to do that.

    But maybe start by finding out who needs to sign the deed of variation, and why it hasn't been signed yet.



  • my-user-name
    my-user-name Posts: 267 Forumite
    First Post First Anniversary Combo Breaker
    Yes thats right Edddy,Scanlons is my management company,I got confused.Gosh its all so confusing for me but tomorrow I will ask them who it is who has to sign the deed of variation and then take it from there. Thanks so much for your advice.

  • MeteredOut
    MeteredOut Posts: 1,258 Forumite
    First Post First Anniversary Name Dropper
    Just a quick update....................I LEFT THEIR OFFICES WITH A SIGNATURE!!! :), what a relief!!
    I explained the situation and very nicely told them Im not leaving without the signature.  30 mins later they came with the signed document.I havent a clue what they did in the background while I was there but the fact remains I walked away with what I wanted.
    Thanks so much to everyone who commented with advice and support,its like a huge weight lifting off my shoulders.
    So so very happy!!
    Probably got the security guard to sign it, but at least its a signature :)
  • my-user-name
    my-user-name Posts: 267 Forumite
    First Post First Anniversary Combo Breaker
    That did cross my mind MeteredOut :)  
Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235K Work, Benefits & Business
  • 607.7K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards