Will the landlord agree to give you a charge or a restriction against the property?
The best way of protecting your investment in this property is to have a deed of agreement drawn up in respect of the eventual sale price and your interest in the property register a charge against the property. That make sure that the property cannot be sold or remortgaged without you being paid.
Not quite as good as a restriction on the property which says that the property cannot be sold or remortgaged without confirmation from the conveyance that the terms of the deed have been complied with (you being paid).
Both will require the property owner’s consent. Either can be done by any competent conveyancing solicitor for a few hundred pounds.
If the property owner is reluctant to do either of the above, don’t do any more work until such time as your position is protected.
Can I clarify anything for you?
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