inadvertent gazundering advice sought

betmunch

Did you try a different mortgage lender?

Incidentally I wouldnt consider this gazundering, just unfortunate.

In my opinion Gazundering happens on the day before (or very close to) exchange and is done for the sole reason of saving money for the buyer after misleading the vendor that you wanted to purchase at the agreed price.

What you have said is just unfortunate for you that the mortgage lenders criteria changed between AIP and application, these things happen

sonastin

betmunch wrote: »

Did you try a different mortgage lender?

Incidentally I wouldnt consider this gazundering, just unfortunate.

In my opinion Gazundering happens on the day before (or very close to) exchange and is done for the sole reason of saving money for the buyer after misleading the vendor that you wanted to purchase at the agreed price.

What you have said is just unfortunate for you that the mortgage lenders criteria changed between AIP and application, these things happen

I agree. To me, gazundering is insisting on a lower price when its too late for everyone else to easily back out and with no justification given (other than perhaps "I don't want to pay that much any more"). Being open and honest about a change in circumstances isn't gazundering.

1stTimeBuyerr

Thanks, it helps to know that what's happened is not in general perceived as us 'trying to pull a fast one' and cyncially manipulate the price. Genuine change in circumstances, rubbish situation, and the seller won't shift or negotiate at all. Frustrating and depressing but it looks like now for sure we'll have to start over. In his words "it's not his fault we can't come up with the money". Game over then.

We've got a broker who has tried several different lenders but to no avail, none of them will lend us more than our original lender as they were the only ones who (initially) would take into account all of my partner's rental income.