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maznaq
Posts: 15 Forumite
We've just had the most difficult time with our house sale. It has taken our solicitors 6 months to do their work. We've had loads of problems with our lease which they could have sorted out a lot sooner. However its nearly coming to an end with the completion and exchange of contract happening this friday which happens to be the buyer's last day of mortgage offer. However the buyer has 'just' noticed today that Halifax (his mortgage provider) increase their rates 3 days before the mortgage offer ends (Which was today). Because of this he now wants us to reduce the house price. Has anyone heard of this before? surely the banks' last day of offer would mean the last day of their special rates?
Have no idea of what to do!!! any advice?
Have no idea of what to do!!! any advice?
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Comments
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Drop your price or the buyer will walk. They are in a much stronger position than you are. If you don't drop now, it will potentially cost you a lot more in the long run than your pride...0
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His mortgage offer will be the rate available when his application was made, it won't change due to current mortgage deals available. I reckon he is trying it on. Once the offer date has passed they could extend the deal but at a different price, but not otherwise.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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thats what i thought silvercar, thats why we've asked to see his mortgage offer to determine what he's saying is true. but with only 2 days to go, i dont know what he'll do. Even our solicitor have never heard of banks increasing their rates 3 days before the offer ends. just wandered if anyone had experienced this.0
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try posting on the mortgage board, the brokers will know if its happening.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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thanks silvercar, will do0
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Does any one know if when selling property that now you HAVE to have a HIPS pack produced at about £300 is there any way of doping cheaper?
Thanks0 -
I am in the process of getting a mortgage with the Halifax now....the rate in his mortgage offer is what they would have been offered on application and you need to complete not just exchange by the time the offer expires in order for the rate still to be valid. So if you are not completing, just exchanging this week they are probs telling the truth about the rate going up - if they originally got the rate 3/6 months ago it would of been much better than whats on offer now. There is also a bit in my mortgage offer that does say Halifax rates may change and they have the right to change at any time (with written notification) but I have been told by my mortgage advisor this only applies for variable rate mortgages (I have a fixed) so I think it is right you ask to see a copy of his offer - or speak to a broker for advise. I dont know how much this helps....0
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I am just putting a house up for sale and if you search on google you will come up with several companies offering a hips pack at a lot less than the estate agent will charge. I went for Valuhips, two days ago, paid up front and had to ring them because they hadn t sent me a reference number to give to my estate agent. I still haven t received anything (so I would try another company if I were you.)Does any one know if when selling property that now you HAVE to have a HIPS pack produced at about £300 is there any way of doping cheaper?
Thanksaftermyownheart :T0
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