Contract Reassignment

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we are potentially able to accept the situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer) who has yet to complete on the transaction. 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.

Criteria categories:

• general
• Policy

Last updated:

29 August 2018