Contract Reassignment
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer). An example of this is whereby a third party has secured the property off plan and exchanged contracts but has not completed. They then sell the contract to a new purchaser. This is known as 'contract reassignment'. Sometimes this is for a premium of the original purchase price and sometimes it is without a premium.
Policy Notes:
These are not acceptable.
- general
- Policy
Last updated:
29 August 2018