This sounds utter nonsense.
I cannot believe little Stewart Milne is lending plc housebuilder Bellway money.
Even if they are it should impact on the purchase of this house.
I can only think that Bellway doesn't own the land yet but..........can you imagine any house builder building a house on land it doesn't own?
Just when I think I have heard everything house builders get up to - I get surprised!
There may well be stage payments to buy pockets of land off another house builder or a consortium of house builders, but it would be madness to build on land they don't yet own.
Get your friend to ask the solicitor to find out who currently owns the land.
Whatever you they do they must not legally complete on the property without owning the whole property (buildings and land) getting the keys.My hope is that your friend hasn't used the
house builder's choice of solicitor as they will soon discover why this is such a bad idea.
I can assure you Bellway's shares are doing very well. Any hint of financial problems would need to be decalred to the City.