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What Happens If ???
planemad
Posts: 569 Forumite
You exchange on a property and the bank financing the mortgage go bust so they cannot lend you the money on completion?
What happens as contracts have been exchanged and you are legally obliged to purchase.
What happens as contracts have been exchanged and you are legally obliged to purchase.
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Comments
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You had better find a new lender asap, contracts are binding!If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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Yep, that's true.lincroft1710 wrote: »You had better find a new lender asap, contracts are binding!
As long as the seller gets his money, it's nothing to do with the buyer where it was borrowed from."Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
Going a step further, I wonder if could you insure yourself for this eventuality? or any other unexpected circumstances?0
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