Title restriction – Could Bank pull the plug?Make Text Bigger
I am in the process of the purchase of a traditionally built 3 bed house freehold title. I Am using a new solicitor on this banks panel. We are near the end of the conveyance with mortgage offer, searches done etc.
The title has standard restrictions put in by the Council such as only occupied by one household. My solicitor has picked up on the ‘not to run a business’ clause stating that this includes running a BTL business.
So she needs to check with bank and I may need indemnity insurance.
Well I argued the case as this has never been an issue before, but to no avail. I am concerned the cautious bank will pull the plug if it gets raised with them.
I could switch solicitors, but I am at the end of the process.
Any advice or experience on this is welcome.
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