I have a mortgage – is this a problem?

Not at all.

At the point of sale and once we have all the details worked out, your mortgage company will be informed. In most cases, mortgage companies are happy for everything to proceed without further involvement.

Sometimes, mortgage lenders will ask a valuer to check that the garden land sale will not affect the value of the house (as it is their security on the mortgage). If this happens, you can ask us to pay this cost.

Mortgage companies will occasionally ask that some of the proceeds of the sale are used to reduce the mortgage.  In particular, this sometimes happens where there are/have been arrears on the account. But even if this is required, you are still ahead as you’ll have a smaller mortgage.