C
cydernut
Guest
Hi,
I wonder if anyone is able to answer my question please? I have a mortgage on a 50% shared ownership property with Friendship Care and Housing. I have put the property on the market to sell and have received an offer. The problem is that although the buyers have been approved for a mortgage on my property, the housing association have turned them down as one of the buying party owns another house which he is renting, and FCH have refused to let him buy my 50% share because of this. The other member of the party does not earn enough to qualify to buy on their own. As you can imagine this is a very frustrating situation having found a buyer in this difficult market only then to have the housing associations restrictions and policies stop the sale. My question is do I have any legal rights to challenge this decision and is there a way around this, as selling a house is difficult enough as it is without the Housing Association restricting who can and can’t buy my share?
Many Thanks
Cydernut
I wonder if anyone is able to answer my question please? I have a mortgage on a 50% shared ownership property with Friendship Care and Housing. I have put the property on the market to sell and have received an offer. The problem is that although the buyers have been approved for a mortgage on my property, the housing association have turned them down as one of the buying party owns another house which he is renting, and FCH have refused to let him buy my 50% share because of this. The other member of the party does not earn enough to qualify to buy on their own. As you can imagine this is a very frustrating situation having found a buyer in this difficult market only then to have the housing associations restrictions and policies stop the sale. My question is do I have any legal rights to challenge this decision and is there a way around this, as selling a house is difficult enough as it is without the Housing Association restricting who can and can’t buy my share?
Many Thanks
Cydernut