bought off plan cant get a mortgage

franklee

Risk isn't a one way bet. It seems the BTL ers want: Heads (rising market) the off plan buyer wins and trousers the profits. Tails (falling market) the buyer can go crying to the government, lenders, builder, etc. crying foul, it isn't fair let me off.

housebuyer_abc

franklee wrote: »

Risk isn't a one way bet. It seems the BTL ers want: Heads (rising market) the off plan buyer wins and trousers the profits. Tails (falling market) the buyer can go crying to the government, lenders, builder, etc. crying foul, it isn't fair let me off.

Wow!!! Someone posting here with some common-sense - how refreshing.

I'm sick and tired of the nanny-state protectionism people expect from the government. If you can't afford to lose the money don't spend it in the first place

(I was going to say if you can't afford to lose it - leave it in the bank - but then I thought maybe that wasn't true either )

tara747

franklee wrote: »

Risk isn't a one way bet. It seems the BTL ers want: Heads (rising market) the off plan buyer wins and trousers the profits. Tails (falling market) the buyer can go crying to the government, lenders, builder, etc. crying foul, it isn't fair let me off.

Well said! I think you have said what a lot of people are thinking.

pmurray

Hi I just wondered what the latest was with Taylor Wimpey I too was unable to complete and am now being sued would be good to hear what happened in your case. (Hope you managed to sort things out)

pmurray

Hi, Just wondered what your latest was with George Wimpy did you find a support group? I am due in court for same senario on 5th November so appreciate your nightmare.

AMILLIONDOLLARS

Have you contacted the
http://www.berkeleyhomescollective.com/

They might have some useful advice for your court appearance

libby_mak

This wasn't by any chance the Latitude development on bromsgrove street, was it? I'm having the same problem with them and wondered how you were getting on ...

AbbieCadabra

libby_mak wrote: »

This wasn't by any chance the Latitude development on bromsgrove street, was it? I'm having the same problem with them and wondered how you were getting on ...

the OP hasn't been online since May 2009, might be better to start a new thread?

russ-jones_2

muscles wrote: »

First time i ve posted on here but need some frank advice as my solicitor who was appointed by the developer dos'nt seem to want to help.

Anyway i purchased a one apartment off plan in Birmingham City Centre in 2006 for £152,500.00 of which it was meant to be completed in June 2008. I paid a deposit of 10% £15,250.00. I recently had it valued at around £90,000.00 so no bank will offer me anywhere need the mortgage i require. The developer George Wimpey and there solicitor wont entertain anything im saying and my solicitor has said that they will keep my deposit if i dont complete. Im also scared encase they sue me (constant sleepless nights and permenant stress)!!! The initial completion date is 12 months overdue so do i have any chance of suing them for breach of contract due to the initial completion date being put back 12 months (its due to complete June 2009)? My solicitor has said that i could go for counsel (barrister) but their fees are unbelievable (around £350 per hour)!!! Anyone got any advice on what i should as i dont want to sued and i dont think its fair that they can keep the whole of your deposit!!!

Any info will be much appreciated x

The people you should ask for advice from are Professional Negligence Solicitors.
There is a group of legal professionals called the PNLA - Professional Negligence Lawyers Association.
I think they would be happy to listen to initial information over the the phone for free however they will not advise.
They would get a snapshot of the case and may suggest if it is worth pursuing.
I would avoid Barrister intervention.