Comments - "How To Secure A Sale and Keep Some Equity In Your Property"

Mapson_2

This popped up on Google while I was looking for ways to keep my chain together should it all go pear shaped.
Sounds strange, has anyone experience of this?

How To Secure A Sale and Keep Some Equity In Your Property

http://www.cobalt-capital.co.uk/mortgage-news-article/items/vendors-how-to-secure-a-sale-and-keep-some-equity-in-your-proper.html

getmore4less

Raises a few questions

If you keep an equity share won't the buyers mortgager want you on it.

Can a second charge be for a share?.

What happens when the buyer stops paying the mortgage and they want to repo. I think you will lose your money.

paulfaz

I'd love to know who 'one of the high street lenders' is exactly that offers this.

A legal nightmare if you ask me.

thepeachyone

Im a bit out of date regarding conveyancing, but dont your solicitors do a search to make sure there are no charges on the property prior to completion? Would this hold up the release of funds from the lender?

Mapson_2

My alarm bells are ringing as well :undecided