Mortgages on an unadopted road

Pamance

We are currently selling our house which is on an unadopted road which is maintained by residents for a small sum (£30) annually. This is collected by the residents' association which has been in place since the residents paid for the road to be made up. The annual charge covers insurance and upkeep of the road. There are over 100 houses in the road and we have lived here for 20 years during which time, houses have been bought and sold. No one I know has reported problems but our buyers' solicitor has said that as there isn't anything in the title deeds about the maintenance of the road, it is unlikely the mortgage will be agreed on the property. Has anyone else experienced this problem? How was it resolved?  . 

canaldumidi

Your buyer's solicitor sounds particularly 'picky'. Unfortunately he will (almost certainly) also be your buyer's mortgage lender's solicitor, and it may be his advice to their lender that scuppers the mortgage!

I don't think for a minute that means other mortgage lenders won't lend, or other solicitors would advise that or a different lender not to lend.

But for now, all you can do is wait for your buyer's lender's decision.

If it is negative, your buyer's could re-apply to another lender (ideally usng a different solcitor), or you could re-advertise.

There must be hundreds of roads/houses like this across the country.

ccbrowning

Not everyone cares. Just bought a home with a similar road situation and mortgage wasn’t a problem.