Concessionary purchase (Landlord)
Our standard acceptability
Indicates if we accept concessionary purchase applications where the current owner is the landlord of the property and the applicant(s) are the tenants. For example, Mr Landlord has agreed to sell the property he Lets to his tenants (Tom and Sally) for £150,000. The property is worth £200,000. Tom and Sally wish to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).
The Society will lend up to 100% of the purchase price or 80% of the valuation, whichever is the lower. We insist on an insolvency indemnity to be arranged by the solicitors.Criteria categories:
- concessionary and undervalue transactions
29 August 2018