Quote:
Originally Posted by Nigel Howarth
Hi Kimberley
Unfortunately, as your client does not have the Title Deeds to the property, he's not considered to be it's legal owner.
As a consequence, he/she is going to find it very difficult (if not impossible) to use the property as collateral to raise a loan.
Regards,
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We have recently taken a loan against our house and had no problems although we do not yet have the title deeds.
It depends on your developer and whether he is willing to sign as guarantor.
It is usually easier to secure a loan if you first talk to your developer and if he is happy to sign use his bank.