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Help, bad mortgage advice leads to lender withdrawing mortgage!
aljmitchell
Posts: 2 Newbie
Can anyone help with advice on what to do in this case. We were getting ready to exchange contracts with in 5 days and were waiting for our mortgage offer to be sent through having sat down with the lenders advisor on 3 occasions for 2 and a half hours at a time, now due to a mistake they are withdrawing the offer and require another 5% deposit before they lend. This is alot of money to us and we were wondering if there is any thing we can do?
Please help as the buyer of our house may pull out and the seller may walk away too.
Thankyou
Please help as the buyer of our house may pull out and the seller may walk away too.
Thankyou
0
Comments
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Depends on the advice given, we will need a lot more detail before we can comment.
Did you lie on the application?
AMDDebt Free!!!0 -
Why on earth did you not have the mortgage offer untill 5 days before exchange?The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
we did not lie, they quoted us for the mortgage and their adviser did not know that they would not lend 95% on a new build but only 90% this was picked up when the final offer was due to be sent to our solicitors office. We told them from the start that this was a new build property. and reminded them on numerous occassions0
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You'll have to try and get them to reduce the price accordingly. or else you'll have to pull out. This situation might work in your favour
AMDDebt Free!!!0
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