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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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I have a property in development that has just been

Customer Question
I have a property in development that has just been reposessed however, i have access through an ajoining property i own myself. if i get in and stay there will it strengthen my position. i have assets to sell to pay off the bank loan secured on the development given time. i own 3 other properties.
I origianlly secured a business loan on the property for 75k and the business bank manager talked me into fixing the rate in 2010 at 8% as she said rates were going to rise. after 5 years i had the option to pay off the loan without penalties. I was missold this loan.
The bank then loaned me additional money to develop the property and gave me a development loan a futher 70k. Developmnet value on completion 300k. its almost done.
When the bank gave me the money they said they would convert the development money into home mortgage but then said no.
I can get more money for the property if they let me finish it off myself and sell it as it is connected to my house next door and they need to finished together.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you.
What is it you want to achieve?
Customer: replied 2 years ago.

ask me what else you need to know by e-mail

Expert:  Ash replied 2 years ago.
I have asked what is it you want to achieve? All communication must be by this question.