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Advice please - Buyer & Abbey
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Had my estate agent ring me today apparently my buyers mortgage with HBOS has been refused due to prob with there child tax credit.
They have now applied with Abbey.
Does anyone know how quickly Abbey process their mortgage apps?
Im really worried as Im buying a repossesion & have 3 & 1/2 weeks to exchange.
Ive also found out today that they have not paid the search fee's to their Solicitor.
I have told my Estate agent if they dont get the searches started I want them to remarket my house.
Should I be worried?
They have now applied with Abbey.
Does anyone know how quickly Abbey process their mortgage apps?
Im really worried as Im buying a repossesion & have 3 & 1/2 weeks to exchange.
Ive also found out today that they have not paid the search fee's to their Solicitor.
I have told my Estate agent if they dont get the searches started I want them to remarket my house.
Should I be worried?
0
Comments
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In a word, yes. The failed credit application will possibly reflect on their ability to obtain finance etc, apart from the actual reason for the first failure. The child credit excuse may not be the reason for the first failure.
As survey fees have not been paid, this is another bad sign, as you realize.
best of luck - hope it all works out."If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools"
Extract from "If" by Rudyard Kipling0 -
i would say if you are buying a repo, your best bet is top stick with these people.It could be months before you get another offer :?
Our searches only took about 10 days
My mortgage is with Halifax and they were happy to take my ctc into account
If i was you i would say, call your agent and tell them about the repo, tell them to call your buyer and insist very nicely things have to be done double quick because of the situation0 -
Apparently the mortgage is only to be in one of their names & the CTC is in the name of the other.
A survey has already been done for HBOS which was fine.
Good to know searches may not take long.
Its gonna be a stressful few weeks.
Grrrrrrrrrrrrr0 -
i would say if you are buying a repo, your best bet is top stick with these people.It could be months before you get another offer :?
Our searches only took about 10 days
My mortgage is with Halifax and they were happy to take my ctc into account
If i was you i would say, call your agent and tell them about the repo, tell them to call your buyer and insist very nicely things have to be done double quick because of the situation
yeh the agent is aware & are being pretty good chasing etc.0 -
Anymore opinions?? Am really stressing out about this. Am worried I'm not going to be able to exchange & complete in time. :-(0
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