Initial MTR Steps
iCare Housing's MTR Steps
There is a possibility that your Lender may decline iCare’s offer. The reasons vary such as ‘offer too low’, ‘discount or reduction needed’, ‘change in borrowers’ financial circumstance’. If this is the case your Lender will be in touch to let you know that the offer has been declined and they will also go through the alternative options that are available to you.
You should also note that not all lenders will fund outstanding LPT, NPPR or Management Company fees. All of these charges need to be fully cleared prior to completing MTR sale process. You will need to discuss with your lender as soon as possible.