|
r1071987
Administrator
19 Posts |
 Posted - 16 May 2008 : 16:12:59
|
16th May 2008
With Mortgage Express pulling the plug on same day bridge and re-mortgages a few weeks ago, assignable contracts looked like they were a way forward. The main downsides seemed to be:
- Tax implications of taking money out of the deal
- Requirements for a seperate entity/person re contract assignment.
However, the following mortgage institutions have now stated that they will not deal with Assignable Contracts:
- Bank of Scotland
- The Mortgage Business (TMB)
- Birmingham Midshires
This list is likely to get bigger over the next few weeks.
Will another method creep out of the woodwork to allow non 6 month tie-in BMV purchases to continue? only time will tell. |
|
BMV News - Assignable Contracts - UPDATE
Forum Locked
Topic Locked
