Restrictive Covenant

A restrictive covenant is an obligation that may be imposed on the owner of a freehold property in the deeds to that property.

Restrictive covenants are also likely to be included if your property is leasehold. Such clauses will prevent certain actions such as running a business or building an extension. You may even be restrained from erecting a TV aerial!

The person doing your conveyancing usually a solicitor will inform you of any restrictions before you exchange contracts and complete your purchase.

See also Mortgage Centre and Mortgage comparison Service for the latest facts and figures.

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2009-02-17 00:00:00 © Moneyextra.com