Munsterdude
Registered User
- Messages
- 169
Hi Folks,
I am a mortgage broker - and have a question for other brokers who look at this site. I have a client, and am trying to help them refinance their property which was purchased under the social and affordable housing scheme. I have hit a wall with this - mainly relating to the restrictive covenant relating to the repayment to the council of profit from the sale of the property. The council have agreed to rank their charge on this clawback second to any new lender - but I cannot find any lender prepared to take a first charge for capital, a second for the council for clawback, and a third charge for the lender (to cover any possible future interest payments) Anybody out there get any joy from any lenders on this issue?
Thanks
Munsterdude
I am a mortgage broker - and have a question for other brokers who look at this site. I have a client, and am trying to help them refinance their property which was purchased under the social and affordable housing scheme. I have hit a wall with this - mainly relating to the restrictive covenant relating to the repayment to the council of profit from the sale of the property. The council have agreed to rank their charge on this clawback second to any new lender - but I cannot find any lender prepared to take a first charge for capital, a second for the council for clawback, and a third charge for the lender (to cover any possible future interest payments) Anybody out there get any joy from any lenders on this issue?
Thanks
Munsterdude