Trying to buy a house from Promontoria

A

Appletree

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Hi all,

Slightly unusual query, if this is in the wrong forum feel free to move.

I am looking to buy a property in an area where there is nothing suitable for sale. However there is one house which was built approx 10 years ago by a developer, never sold, and has never been lived in. After doing some research we found that the land registry states that the 'burden' was passed from Ulster Bank to Promontoria this year. While trying to find out whether the property can be bought we were passed on to Capita, who apparently manage this portfolio, however they haven't been able to advice whether the property can be sold yet.

Has anyone been in a similar situation and did you have any luck, or any advice on this?

Many thanks.
 
Given that the property has been unoccupied for so long, it is likely that the developer is insolvent.

Promontoria, via Capita, will do either of the following:
  • Do a deal with the developer whereby he voluntarily sells the property to avoid receivership fees.
  • Do a deal with the developer whereby he re-finances the debt and he keeps the house.
  • Appoint a Receiver to sell it.

What can you do to express your interest?

  • Keep contact with the asset manager within Capita who is looking after the portfolio.
  • Put a letter through the letter box, in a large sturdy envelope, stating on the cover "I am interested in purchasing this property. Please contact me" and put your contact details inside.

If the property is sold, it should be advertised and marketed at the time.

Jim Stafford
 
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