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Help: First Direct - booked a mortgage but sale collapsed - can I extend?
disney_cjd
Posts: 1,249 Forumite
All
I am sure many of you have suffered the same. Back in March we had sold our house and bought a new place. We secured a very large mortgage with FD on their fixed offset at 5.29% and paid the £399 reservation fee.
The sale then fell through.
Whilst we had six months to draw down, time is running out and I do not think we will find anywhere or sell our house by the September deadline. So what happens then?
We have called FD and they say we lose the rate which seems a little unfair. I thought the deal was we paid the 299 thus they have allocated the money to us and it was ours? Is this not the case?
I have asked them if we can extend it. They say no.
Any other ideas or do we just say goodbye to the £299 and the rate?
Thanks all
Desperate disney_cjd
I am sure many of you have suffered the same. Back in March we had sold our house and bought a new place. We secured a very large mortgage with FD on their fixed offset at 5.29% and paid the £399 reservation fee.
The sale then fell through.
Whilst we had six months to draw down, time is running out and I do not think we will find anywhere or sell our house by the September deadline. So what happens then?
We have called FD and they say we lose the rate which seems a little unfair. I thought the deal was we paid the 299 thus they have allocated the money to us and it was ours? Is this not the case?
I have asked them if we can extend it. They say no.
Any other ideas or do we just say goodbye to the £299 and the rate?
Thanks all
Desperate disney_cjd
Self confessed Florida expert 
with over 320 trips there!
Co host of the Disneybrit and Eye on Orlando Podcasts
and Craig Duncan Soul Show on Orlando Sky Radio
with over 320 trips there!Co host of the Disneybrit and Eye on Orlando Podcasts
and Craig Duncan Soul Show on Orlando Sky Radio
0
Comments
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Sorry Disney, but that sounds about right I'm afraid. Would love to tell you something differentHappily an ex mortgage broker!0
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happybroker wrote: »Sorry Disney, but that sounds about right I'm afraid. Would love to tell you something different
Thanks. This market sucks at the moment. ThanksSelf confessed Florida expert with over 320 trips there!
Co host of the Disneybrit and Eye on Orlando Podcasts
and Craig Duncan Soul Show on Orlando Sky Radio0 -
unfortunately i think they are right as the mortgage offer is only valid for 6 monthsKeep the Faith:cool:0
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