Heathrow third runway question

robfosters

robfosters

robfosters

Caporegime
Joined
1 Dec 2010
Posts
53,767
Location
Welling, London
what happens if someone has to sell their house to be demolished for the new runway and they are still mortgaged to 80% or so?

If they are too old or not in the financial position to get a new mortgage, is it tough luck or do the developers end up having to pay off the mortgage AND buy them a new house to the same standard completely?
 
FTM said:
usually negotiations and a settlement figure is reached to compensate you

if you hold out for an extortionate sum they will just issue a compulsory purchase order...so you could end up worse off then if you had negotiated a proper settlement in the first place
Click to expand...

Imo, in the case I state above, the settlement figure should include the mortage balance and a new house.
 
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