Where a lender holds back part of the mortgage advance, usually until specific works on the property have been completed to the lender’s satisfaction.
By Justin Whitelock
Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)
Where a lender holds back part of the mortgage advance, usually until specific works on the property have been completed to the lender’s satisfaction.