Mortgage with a council grant?Make Text Bigger
Does anyone have any experience with grants from the council, and subsequently, getting a mortgaging on a property?
I own a long term empty property which is eligible for a £25k grant from the council to bring the property back into rentable condition.
The main condition surrounding the grant is that you must rent the property to LHA tenants for 5 years or ‘lease’ the property to the council for 5 years once the council gives you the grant and you finish the work.
If you wish to dispose of the property within those 5 years, you are simply required to repay the grant in full, otherwise the grant is just free money.
My concern in how mortgage companies will view the situation and whether it would reduce my chance of getting a, good rate, mortgage.
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