Bank Guarantees

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    • #53247
      Anonymous
      Participant

      Regarding those who have bought off-plan ‘illegal’ properties with no Bank Guarantee – is it possible that the Bank would have refused to provide a BG at the outset ❓ The REAs & their ‘recommended’ lawyers concerned, knowing this from the beginning. Sounds a naive question, I know, but nevertheless…..wondering what the Bank’s position has previously been on this. Would they grant a BG on the assumption of Licences eventually being in place ❓

      I’m wondering how information can be obtained on Banks refusing to give BGs to Developers (knowing the land was ‘greenbelt’ etc). Presumably they’d refuse their application for a mortgage also 💡

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