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  • FIRST POST
    • PhilNewcastle
    • By PhilNewcastle 14th Mar 17, 7:38 PM
    • 1Posts
    • 0Thanks
    PhilNewcastle
    FTB Freehold advice
    • #1
    • 14th Mar 17, 7:38 PM
    FTB Freehold advice 14th Mar 17 at 7:38 PM
    Im currently in the position of purchasing a home, I have full the application done with mortgage company and offered however the house we are buying is a lease hold, the vendor is buying the land and selling as a freehold as there is not enough time left on the lease. I have been waiting over 2 months since putting an offer in on the house and the vendor side of the land buying has not yet been completed. The mortgage we have is only valid for 70 days so haven't got forever to wait. Question is - Can we do all our ground checks etc before the house is a free hold and what else needs to be done from my side. I'm yet to get a solicitor as I don't know how long we are going to be waiting.. But i want to know what i can get done now? and what are steps before completion? Ive never done this before and am sightly confused
Page 1
    • Whoknowskt89
    • By Whoknowskt89 14th Mar 17, 8:17 PM
    • 149 Posts
    • 395 Thanks
    Whoknowskt89
    • #2
    • 14th Mar 17, 8:17 PM
    • #2
    • 14th Mar 17, 8:17 PM
    Can't help with most of that but you should be able to get the offer extended if required by contacting the lender so you wouldn't have just 70 days to sort.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0% £1424!!!
    Emergency fund £668/£1000
    Selling/next home fund £0/£16,000
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