Deed of variation

[the80sweregreat]

Ds 2 is late 20s and wants to try and buy a flat.
He wants to be in a city location ( not London) and a few he likes are converted from buildings that once were office buildings. Already parted with money for a solicitor to advise him not to proceed because of a problem with service charges and a fire safety certificate that didn’t seem on the level.
Found another flat and that seems to be the same too. Agents suggesting a ‘deed of variation ‘ over service charges and ground rent , but depends on costs involved and if the freeholder agrees to getting one done ( from what I can gather?)
He can only borrow from one particular building society , nobody else will risk it because he is single and they are being picky over just about everything plus now the possible cost of trying to obtain this deed.
Anyone else had problems with this or could advise. I have never bought a flat and the amount of office space being converted seems on the rise but fraught with a lot of hurdles and extra expense it seems.
Or has anyone had any luck obtaining a deed of variation and what were the costs ? Is it worth perusing with this, do all flats for sale have these kinds of problems ? Or just one’s that are ‘conversions ‘?

Low-rise purpose built flats are generally a safer bet but it’s impossible to say for certain. Likewise the cost and possibility of getting a deed of variation for the place your DS is considering.

Thanks for reply. His already been advised not to proceed with the last one and cost him 300 in legal fees. This office conversion is similar , but the fire safety certificate is ok with this one.
It feels to be a bit of a minefield. He doesn’t want to rent anything , but he really can’t run to buying a house ( out of his budget )
I feel a lot are only really for cash buyers or buy to let tbh. The freehold / leasehold situation seems complex. Wondered if anyone else had been through this process ?

We've just sold our leasehold flat - it was a long, horrendous and stressful experience. If possible, your son should look for a flat that is a house converted into flats and is share of freehold. Unless he plans to live there forever, he will struggle to sell and potentially lose money. Its not worth it for a few years living somewhere cool or trendy. its a chokehold. Sorry to sound dramatic but i say this with a wealth of experience.

Nomchanger
thanks for your reply
we have advised him to stay away from these types of properties, but he is determined to see if the freeholder might want to try and do this deed of variation but I just see a case of his solicitor saying ‘ that’ll be another wedge of money’ and nothing to show for it again.
He is very head strong and has a lovely broker helping him too, but it just feels wrong all round
sorry you had a bad time of it too :(

I own a freehold property with service charges because it’s on a new estate. We are selling it currently and us as the sellers paid for the deed of variation that the buyers need in order to get a mortgage. It was about £250 to do.

This particular flat he is interested in is leasehold only not freehold. The agents seem pretty happy that it can be sorted out with the seller , but then he heard this before ! I hope it can as it ticks the boxes and if the mortgage company are happy then that’s a big plus
It’s in the lap of the gods now, but it does sound complex and he can’t go with any other lender