Owing to a major shortfall on their endowment mortgage, Mr and Mrs W from Tamworth urgently needed to release some of the capital tied up in their property to raise sufficient money to pay back the building society. Their house, however, was a leasehold property and only had 45 years remaining on the lease. This meant that no equity release company was prepared to take on the property. To make matters even worse, Mr and Mrs W hadn’t received a ground rent demand for many years and didn’t even know who their freeholder was, let alone how to get in touch and negotiate terms.
Fortunately, a previous client of Midland Valuations heard about their situation and recommended that they got in touch with us. We were swiftly able to locate the freeholder, agree terms, and put the matter into the hands of the couple’s solicitor to enable them to complete the purchase. The transaction was done ahead of time and well within the budget that Midland Valuations provided at the start.
“From the moment that Midland Valuations took on our case, everything went like clockwork. They were amazing! They kept us fully informed of developments at all times and nothing was too much trouble. They literally prevented the house from being repossessed. I cannot thank them enough.” Mrs W, Tamworth