CTAB Mortgage Desk
Social Homebuy - A Comprehensive Guide

CTAB have achieved Homebuy Agent approval - we can now deal directly with ALL Homebuy Agents. If you are a Registered Social Landlord we will be pleased to talk with you. Please e-mail David Castle at ctabuk@gmail.com

Social Homebuy - The Common Sense Approach

REDEEMING THE MORTGAGE

OPEN MARKET HOMEBUY - OPERATING MODEL

Customer enquiries about selling home

then

HBA directs home owner to lender

then

Lender appoints an approved valuer

then

Valuer contacts the homeowner to arrange appointment

  • If home improvements have been previously approved by lender and HBA any appreciation in value will be disregarded

then

Valuation carried out. Valuer writes to the lender stating the value of the house (disregarding home improvements if applicable). Time limit on valuation

then

Lender writes to the homeowner with details of the value of the lender's equity loan due. Customer is advised to contact the HBA with the valuation to establish the value of the Government's equity loan

then

Homeowner contacts HBA with valuation.
If the homeowner rejects the first valuation, they will need to pay the lender to commission a second valuation

then

Property put on the open market

then

Homeowner appoints a solicitor providing redemption statements from HBA and lender

then

Sale completed. Funds sent to lender and HBA by solicitor

then

Equity loan repaid - Mortgage redeemed

CTAB Mortgage Desk is a trading name of COUNCIL TENANTS' ADVICE BUREAU (UK) LTD. Authorised and Regulated by the Financial Services Authority.