We have been having issues with 1 final enquiry for the past 3 weeks, regarding the rentcharges on the property title for the house we want to buy. The owner of the management company never set it up, never charged anyone etc. Long story short, the sellers solicitor refuses to acknowledge that there are rentcharges on the title to remove, and refused every solution our solicitor has suggested. So our solicitor is now suggesting we get a letter from the owner of the "management company" to say he never has and never will charge anyone, and we will form our own management company as residents. He has agreed to do this for us. Our solicitor will have to inform our lender and if approved, take out indemnity insurance.
We should have the letter by tuesday. Hopefully we can inform lender same day and get a response next week. We were supposed to exchange/complete today but this has held things up. Just want to know how long it can take to get indemnity insurance, so we have an approximate timeline for the chain to exchange?