Igroup Mortgage - At The Tip Of The Ice Berg! Help Need Some Advice Please!

chris1985_2

Hello, new to this website, here is my worry

Basically I my offer on a property was accepted approx 5 months ago

ALL of the legal work with solicitor is complete to my knoledge.

Solicitor says he is pretty confident it will complete before or on Friday 3rd october.

I have been waiting for this mortgage for months, it appears Igroup have stalled me on several occasions, twice being they put the wrong property to be mortgaged on the offer.

Anyway that has been corrected, the offer has been signed and they received it 3 days ago (monday)...

They wrote to me to say their fees will go up a further £1000 Plus interest rate from 8.74% to 9.54% if not completed by 3rd oct (Even though the mortgage offer is valid til december!?)

Property valuation £122000
We are borrowing £89250
The purchase price is £105000 (22k less than valuation)
The fees have been added to the mortgage and are included on the ammount to borrow.

My partner was declared bankrupt in 2003 and was discharged in 2005 (I think) They know this already... But they want to do another? bankrupcy search.... I am now worried they are going to cancel the mortgage!!!!

I also dont see how there is enough time to transfer monies and sign contracts in 5 working days???


Sorry to go on, advice would be good, having a breakdown and of course the sellers are going mental!

Chris

arkie

You should be able to complete on the offer that is valid until December unless IGroup have written to you withdrawing the offer.They could cancel it if your credit situation has got worse or the main thing that concerns me is that the loan may not fit within IGroups affordability calculator.
Contact your broker