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  • FIRST POST
    • ImranBro
    • By ImranBro 16th Mar 17, 2:14 PM
    • 13Posts
    • 1Thanks
    ImranBro
    New Build Shared Ownership - Delaying Purchase
    • #1
    • 16th Mar 17, 2:14 PM
    New Build Shared Ownership - Delaying Purchase 16th Mar 17 at 2:14 PM
    Hi,

    I'm proceeding with buying a shared ownership house and the housing association want to move very swiftly.

    I'd like to wait so that my kids finish the school year where they are (especially given we'll be into the last term soon). It wouldn't be possible to travel from my new place given my work commitments.

    We've not even started the whole process but I have paid the reservation fee.

    Any ideas as to what I should do?
Page 1
    • kingstreet
    • By kingstreet 16th Mar 17, 2:17 PM
    • 31,929 Posts
    • 17,060 Thanks
    kingstreet
    • #2
    • 16th Mar 17, 2:17 PM
    • #2
    • 16th Mar 17, 2:17 PM
    Reserving now doesn't seem the most sensible of ideas.

    Builders want fast-turnaround and not to be asked to wait for months to complete, unless it's going to take them months to get to completion.

    It would be a good idea to talk to the negotiator or whoever you have been dealing with.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • ImranBro
    • By ImranBro 16th Mar 17, 2:23 PM
    • 13 Posts
    • 1 Thanks
    ImranBro
    • #3
    • 16th Mar 17, 2:23 PM
    • #3
    • 16th Mar 17, 2:23 PM
    The builders have handed over to the housing association. I think it's the HA that want to proceed quickly.

    I just don't want to have to start paying at both places for a couple of months which will leave a huge dent in my wallet.
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