• Right To Buy Property?

    By Guest on 12th Jun 2020

    Is it possible to purchase a right to buy property with a business loan?

  • 1 Answers

    By NotaryExpress on 13/06/2020

    If you mean a coronavirus emergency loan, they're not meant for that so although technically you could, it would likely be a breach of the loan conditions. Indeed, even a normal business loan you need to declare what you are using it for, so I would say the first step is to ask your lender if that use is permitted.

    Next step would be to ask the council if that would be acceptable as a source of funds for the purchase - I don't envisage them having any issues with it but it's always best to be open and transparent about what you are doing.

    www.notaryexpress.co.uk

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