Selling my leasehold house that needs a Deed of Variation

sophskel22

Hello, if anyone has knowledge or can help me. 

We are currently in the middle of selling our leasehold house. We agreed our sale price in February, and due to the buyers mortgage lenders we are still not moved out or have a competition date. It is now the end of June, and the mortgage lenders want the leasehold review period changed to match the mortgage years for the buyer of our property. This has required the leasehold company to request a Deed of Variation, who have now told us the Deed of Variation can take 2-3 months to produce. The buyers mortgage lender has advised they will not release the funds for the house sale until the Deed of Variation is approved and submitted through HM Land Registry. 

My question is, should the Deed of Variation not be confirmed once the house sale has completed as then myself and my partner will no longer be the home owner, or liable for the lease? 

Any thoughts, or direction would be greatly appreciated.

Thank you x

BarelySentientAI

No, it should be confirmed before.

dell12

In most cases it will be approved in advance, but take effect from the day on completion.

If both parties are on board it can be done in weeks rather than months.

user1977

sophskel22 said:

should the Deed of Variation not be confirmed once the house sale has completed

How would it complete if the buyers' mortgage funds won't be available before the DoV can be completed?

bowdav1

Did you manage to arrange a deed of variation and how long did it take?