• Selling A Flat To Friends With Mortgage Problems - Can We Do It On Easy Terms ?

    By Guest on 12th Feb 2017

    We are selling a flat to the tenants who are friends. They had a few lean years and have a poor credit score and now are having problems getting a mortgage. Can we just set up a private terms (no deposit, term of five years, interest 2%) payment by installments with a charge on the title (it is registered) without being liable for all the Consumer Credit Act ballyhoo ?

  • 1 Answers

    By Guest on 15/02/2017

    You can. The Consumer Credit Act only applies where your business involves lending money to individuals

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