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New Home & Part exchanging: not straightforward
Orchid
Posts: 56 Forumite
Just wondering...
Hubby and I want to part-ex our existing home for a new build we have seen (yes we know we are paying a premium!)
Anyway, the mortgage on our existing home is in hubby's sole name.
And we want to buy the new build in my sole name (as hubby is currently in between contracts)
I have the mortgage offer in place (subject to mortgage valuation).
We know this may be uncoventional but the Sales Rep indicated today that their Head Office may not want to part ex unless hubby is also buying the new home (on the mortgage).
I asked for a reason why (bearing in mind that I have the finance in place) but she could not explain.
Has anyone done / heard of this?
Penny for y'er thoughts.
Hubby and I want to part-ex our existing home for a new build we have seen (yes we know we are paying a premium!)
Anyway, the mortgage on our existing home is in hubby's sole name.
And we want to buy the new build in my sole name (as hubby is currently in between contracts)
I have the mortgage offer in place (subject to mortgage valuation).
We know this may be uncoventional but the Sales Rep indicated today that their Head Office may not want to part ex unless hubby is also buying the new home (on the mortgage).
I asked for a reason why (bearing in mind that I have the finance in place) but she could not explain.
Has anyone done / heard of this?
Penny for y'er thoughts.
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Start B[FONT=Verdana, Arial, Helvetica, sans-serif]alance[/FONT]: [FONT=Verdana, Arial, Helvetica, sans-serif]£19[FONT=Verdana, Arial, Helvetica, sans-serif]4,162.57[/FONT] [/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif] * New Monthly Target since May: [FONT=Verdana, Arial, Helvetica, sans-serif]£2,906.29[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Current Balance: [/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]£188,511.89[/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif] * New Monthly Target since May: [FONT=Verdana, Arial, Helvetica, sans-serif]£2,906.29[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Current Balance: [/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]£188,511.89[/FONT][/FONT][/FONT][/FONT][/FONT]
0
Comments
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no, not heard of it. If finances are in place it should be okay.You'll Never Be Rich Working for Someone Else0
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that is what I thought too kinster but she has left me very confused[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Start B[FONT=Verdana, Arial, Helvetica, sans-serif]alance[/FONT]: [FONT=Verdana, Arial, Helvetica, sans-serif]£19[FONT=Verdana, Arial, Helvetica, sans-serif]4,162.57[/FONT] [/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif] * New Monthly Target since May: [FONT=Verdana, Arial, Helvetica, sans-serif]£2,906.29[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Current Balance: [/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]£188,511.89[/FONT][/FONT][/FONT][/FONT][/FONT]0 -
This shouldn't be a problem at all. Speak to Head Office0
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thanks distilled. Head Office now engaged so we will wait to see what they say.[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Start B[FONT=Verdana, Arial, Helvetica, sans-serif]alance[/FONT]: [FONT=Verdana, Arial, Helvetica, sans-serif]£19[FONT=Verdana, Arial, Helvetica, sans-serif]4,162.57[/FONT] [/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif] * New Monthly Target since May: [FONT=Verdana, Arial, Helvetica, sans-serif]£2,906.29[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Current Balance: [/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]£188,511.89[/FONT][/FONT][/FONT][/FONT][/FONT]0 -
Head Office have just come back and say they can't do it - it is against their company policy.
What a shame, I said. They said, we have another scheme which could help - something called the easy mover scheme but the person said they would need the approval of their directors.
So Monday they will get back us.
Ah well, if it happens it happens, if it doesn't, then a better home must be out there
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Start B[FONT=Verdana, Arial, Helvetica, sans-serif]alance[/FONT]: [FONT=Verdana, Arial, Helvetica, sans-serif]£19[FONT=Verdana, Arial, Helvetica, sans-serif]4,162.57[/FONT] [/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif] * New Monthly Target since May: [FONT=Verdana, Arial, Helvetica, sans-serif]£2,906.29[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]Current Balance: [/FONT][/FONT][/FONT][/FONT][/FONT][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif]£188,511.89[/FONT][/FONT][/FONT][/FONT][/FONT]0
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