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Original poster

Secured loans? can you move house with them?

3 replies

pucca · 18/04/2007 22:25

We have been in our house 1 year, and got a secured loan to "do the house up".

My question is, will we have to pay it off in order to move? or can you take them with you?

TIA

OP posts:
BigGitDad · 18/04/2007 22:30

You will not be able to take it to a shared home ownership property. Housing Associations will not allow it.

Original poster
pucca · 18/04/2007 22:31

Ah ok, didnt know that, hopefully we should be able to clear it before hand then, thanks BGD.

OP posts:
mumblechum · 19/04/2007 11:19

If you can't clear it before you leave, the solicitors acting in the sale will redeem the loan at the same time as they redeem the first mortgage, and pass the balance on to you.

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