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I've put in an offer for a 2 bed flat for £312k (in England, outside of London) that has been accepted.
However because the ground rent is £330 and the renewal period is every 5 years, only a couple banks are willing to lend. I am not willing to buy the lease whilst this is the case.
The seller first offered to change the lease through a deed of variation to get the ground rent extended to 10 years, and offered to "go halves" on the legal fees. I flat out refused.
They've now said they will pay for all the legal fees but they need me to get a solicitor to move the sale forwards, as they say the lease cannot be changed without a sale. I don't believe this is actually true though, I believe they can change it without locking me in.
Can someone advise?
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- 1 year ago
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