selling my property which has government grant restrictions

Oaktree333

Good Afternoon,

i am in such a confused place at this moment in time, i engaged with a estate agent last week to consider downsizing my property to release cash, i explained that there were restrictions on the title deeds and was asured this would not be a problem and no additional delays with selling the property, however a week later and continual calls to the agent, i decided to google equity release for another option. they told me that unless i can pay the outstanding amount on the restriction they were unable to help ?

Brie

is it the agent that said they couldn't help or the equity release firm?

Oaktree333

The equity release, however it appears after looking at government gateways, it looks really complicated!!!

peb

Edited as i.misundesttood.

If you are looking to repay a government grant which is protected by a restriction your solicitor will deal with this with sales proceeds.   Nothing to do with estate agents



Are you planning on paying off the loan?  If not then you need to check it's transferable, not all of them are.   Restrictions are not something agents have any input in, your solicitor will deal (not all will do equity release) but if your plan is to transfer you need to speak to the lender.   If you are downsizing their may not be enough equity for the lender to accept the new property 

andykennedy83

How did you get on with this and selling? I’m currently looking to buy a property and it has government restrictions but the sellers who inherited it don’t think there’s any way round it. It has another 3 years to go.. so just wondering how you got on?