Hi Sean,

I can only see the Alpha doing that if there were no outstanding mortgages lodged against the property.

Developers are 'reluctant' to clear their mortgages even though buyers may have paid for the property in full. This limits the resale market because no-one in their right mind is going to buy a property with a mortgage attached!

As a consequence, finding resale property with Title Deeds can be difficult, so potential buyers will naturally go for new/off-plan properties, which are available in abundance. (And of course, as the developer makes no money by selling resale properties, it's in his interest not to repay the mortgage).

Cheers,