R
Ryanscot
Guest
Hi
New to this and probably asking a question already answered sorry in advance if so, my question is if you get aloan from shared ownership(£200 thosand) to build and you run out of money before the house is finshed to build works out at £220 thosand and want to go to a bank to buy out the shared ownership and get remaining amount owed to builders firstly can you do this, and secondly do you pay the council back the amount you borrowed from them say (£200 plus interest )or is the money paid back on the value of the house after been build say value (£300 thosand )
any help on this would be great ...
New to this and probably asking a question already answered sorry in advance if so, my question is if you get aloan from shared ownership(£200 thosand) to build and you run out of money before the house is finshed to build works out at £220 thosand and want to go to a bank to buy out the shared ownership and get remaining amount owed to builders firstly can you do this, and secondly do you pay the council back the amount you borrowed from them say (£200 plus interest )or is the money paid back on the value of the house after been build say value (£300 thosand )
any help on this would be great ...