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Delays - what would you do?
beckstrous
Posts: 293 Forumite
I'll try to be brief here...
Had an offer accepted early Feb and the seller pushed for a 6-8 week timescale. We got our mortgage application in really quickly in good faith and it expires on May 11. We have to give 8 weeks' notice on our rented flat and can't afford to pay an extra month's rent. The EA is aware of this and we have also tried (without success) to change our notice period to 4 weeks.
There is a problem with the right of way on the property. The seller's solicitor suggested an indemnity policy was the quickest way to fix this but the seller wants to get a deed of rectification, which is the "proper" way to do it.
Our solicitor has said we should not hand our notice in yet.
This, however, will delay things, and could mean a few things:
1. We have to pay an extra month's rent in order to complete before the mortgage expires
2. We lose the mortgage offer (the product no longer exists so we may not be able to extend it) and the fees
3. We get the mortgage extended (the best option!)
We are on holiday from May 9th-16th and have made the EA and solicitors aware of this. They can complete in our absence but we do still have the problem of the mortgage offer expiry/paying extra rent.
The solicitor says we should ask the seller for compensation and I have already written to the EA (and spoken to him) telling him this. Has anyone else been in a similar situation and if so, what happened?
Had an offer accepted early Feb and the seller pushed for a 6-8 week timescale. We got our mortgage application in really quickly in good faith and it expires on May 11. We have to give 8 weeks' notice on our rented flat and can't afford to pay an extra month's rent. The EA is aware of this and we have also tried (without success) to change our notice period to 4 weeks.
There is a problem with the right of way on the property. The seller's solicitor suggested an indemnity policy was the quickest way to fix this but the seller wants to get a deed of rectification, which is the "proper" way to do it.
Our solicitor has said we should not hand our notice in yet.
This, however, will delay things, and could mean a few things:
1. We have to pay an extra month's rent in order to complete before the mortgage expires
2. We lose the mortgage offer (the product no longer exists so we may not be able to extend it) and the fees
3. We get the mortgage extended (the best option!)
We are on holiday from May 9th-16th and have made the EA and solicitors aware of this. They can complete in our absence but we do still have the problem of the mortgage offer expiry/paying extra rent.
The solicitor says we should ask the seller for compensation and I have already written to the EA (and spoken to him) telling him this. Has anyone else been in a similar situation and if so, what happened?
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