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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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In 1990 I purchased my house in Milton Keynes under the Milton

Customer Question

In 1990 I purchased my house in Milton Keynes under the Milton Keynes Development Corp. land deferred home purchase scheme.

The paperwork said that the payment for the land would become payable on re-sale of the property and that there was no time limit on this, our mortgage on the other part is due to end next year and now that I have retired I am worried that the land payment would be due then too
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

If it is on re-sale then your mortgage ending would have no bearing.

Alex Watts :

It would only be when you come to sell the property would any fee be due.

Alex Watts :

But completion of a mortgage does not trigger the charge

Alex Watts :

Can I clarify anything for you about this today please?