No more finance, Mortgager wants 50k

htrj

Highways.

First they said they had no objection to the land being developed, so pp was sought and granted. Now Highways say that they meant something quite different.

There are some very influential people rolling their eyes about this but Highways will not budge. There is a way to challenge them, which will take time and money. Two commodities we can ill afford at the moment.

silvercar

If you have the PP, then sell it with PP.

Up to the buyer to sort out the highways. Sounds to me like highways objected too late. Once granted can PP be rescinded?

getmore4less

sounds more like highways have objected.

change the plans

What is the issue with highways, if access and traffic then often simplified build can by pass them.

chances are if that is the only issue an experienced developer could still be interested.

htrj

We are going slightly off tangent here. This is not a simple case of a building plot with PP going on the open market. Nonetheless, it is land which has a value to one specific person only. The highways issue can be overcome, given time and money. Two things we don't have. Said specific person has no interest in overcoming these issues. Believe me, its messy.

Really I just wanted to know what the lender is likely to do at the end of the term, in order that I can study the options. Perhaps equity release, perhaps sale, perhaps argue with the lender over debt which is depleting by the day. Is there anything else to add to this list?

Would still be interested to know, generally speaking, what the terms are for getting out of equity release.

getmore4less

if only one person is interested in the land they are showing signs they will do you over once YOU have forked out the cash.

hope none of those extra loans were secured that will mes up any other lending against the property.

You might be able to fob the lender off for some time if there are payments going in.

htrj

What do you call - "some time"?

The situation over selling the land is quite complicated. If you're ever struggling to sleep pop over and ill go through it with you. It is not at all straight forward and im sure youll nod off in no time.