Right to Buy Council House and Re-Mortgage

alwaystired

Hi again, I now have the letter, it says.

"Under investigation of the Title deeds... it is noted that this property was purchased under a Local Authority Right To Buy scheme.

Unfortunately only the Mortgage with which you purchased the property has priority over the discount charge and as the property is being re-mortgaged within the three year discount period we must obtain confirmation from the Local Authority that they will agree to postpone their interest in the property in favour of your new mortgage. We do not doubt that this will be granted and shall revert to you once we receive confirmation from the Local Authority as we shall need to prepare a deed of postponment..."

So what does this actually mean, and is £150 reasonable ?

TIA

alwaystired

JasonLVC

Mr Helpful appears to be spot-on. Deed of postponement letter is required from the Council.

Where I used to work (at a Council's right to buy department), we'd get these requests all the time and if it was a straight remortgage and no name changes to the borrower or the ownershp then we'd fire a letter straight off - no charge.

That was a few years ago now, but doesn't require a solicitor. Ring council first, they'll then request it in writing and then they'll do the rest. Should be free or at best £20-30 quid for admin/postage.

alwaystired

Can my Daughter get this letter direct from the Council, and forward it to the Britannia and therefore save £150 ?

alwaystired