Documents regarding selling property

sarahlou10

The agreement at the start was that we got 75% mortgage and the 25% remaining was paid either when we sell or in 10years whichever happens first. So that's the contract but then 2 years ago I contacted them and they replied in writing saying first priority is mortgage if any money remains then it goes to them. As it was written I feel and at the time felt this would be as legal as if the contracts had been re written

kingstreet

It is exactly as I said. It's shared equity and there will be a second charge over the property for the developer's loan.

The legal documentation would be on the file of the solicitor who handled the purchase for you when you bought. You may wish to ask them for copies.

A letter explaining how charges work is not a variation of your contract, unless the letter says that in clear language.

This needs dealing with in the real world, not on here. Seek proper legal advice, perhaps even away from the conveyancers you are using, from a contract law specialist.

You first need the contract paperwork and the first port of call for that is the original solicitor as mentioned.