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Any experience of a shared appreciation mortgage in a / holding up a chain?
Thonian
Posts: 9 Forumite
Hi
The top of our chain is probate and it transpires (a week before we were due to complete) that the deceased took out a shared appreciation mortgage. So there has been a costly delay (we missed the SDLT relief).
The lender sent an independent surveyor last week to value to the property. Does anyone have any idea as to how long it might take now to get this issue resolved please? It is the only thing holding up the chain.
Thanks
The top of our chain is probate and it transpires (a week before we were due to complete) that the deceased took out a shared appreciation mortgage. So there has been a costly delay (we missed the SDLT relief).
The lender sent an independent surveyor last week to value to the property. Does anyone have any idea as to how long it might take now to get this issue resolved please? It is the only thing holding up the chain.
Thanks
0
Comments
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It will take as long as it takes. You will not be able to hurry it up.
I'd be surprised if that was more than a week or two, but it's not impossible, especially if there is some dispute between the lender and the executor of the estate over the valuation relative to the agreed sale price.0 -
Thanks for getting back to me, much appreciated.0
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Is anyone else knowledgeable on this please? Thanks0
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Any other experts out there please or anyone who has any advice?0
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