We bought our house 4 years ago (direct from the property developer). We are currently looking to re-mortgage. However, something interesting popped up -- which is the subject of estate rent charges. The new lender does not want to lend us the money unless these rent charges are dealt with in some way.
One possibility is a deed of variation to remove the Section 121 of Property Law 1925. And I like this solution because it also future proofs us from this issue popping up again in case we remortgage again or if we sell to a buyer who needs a remortgage.
Fortunately, the original property owner (Who is the rentcharge owner) is being very reasonable and is happy to agree to a deed of variation. In fact, they have even offered to have their lawyers draft it (for a fee of ~ 500 pounds).
My question is : do I need a lawyer myself? Or is this a relatively straightforward piece of paper that my husband and I can sign?