deed of variation
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Trapped by a leasehold property: what might you have wanted to know before buying?
A leasehold problem may not become obvious when you buy. You may pay the service charge, keep up with the ground rent and live in the property for years without difficulty. The problem can surface later, when you try to sell or remortgage and a buyer, conveyancer, valuer or lender looks closely at the lease.…
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Kensington Mortgagee Protection Clause: Deed of Variation, Side Agreement or Insurance?
Kensington Mortgage Company’s new answer to question 5.14.11a of the UK Finance Mortgage Lenders’ Handbook addresses leases that lack a mortgagee protection clause. The instruction starts with the conveyancer’s professional judgement. Where the conveyancer considers that the lease requires a mortgagee protection clause and none is included, Kensington requires an appropriate solution before the transaction…