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Complicated mortgage
star_ka
Posts: 52 Forumite
Hi All,
Hope you can help us out - as im worried sick!!
A year ago we obtained planning permission to build a home which was given a Section 106 local needs and agriculture restrictions. Because of the paperwork was so slow coming from the council, our builder started work even though we fully understood if he wanted to wait.
After much chasing the council we finally got our paperwork and could proceed with the mortgage. The restrictions were sent to the halifax and agreed that they could supply us with a mortgage with the terms imposed.This was in March of this year. After 2 surveys both quoting the valuation at £190,000 with the restrictions in place (2 surveys due to issues with the mortgage broker - this is a long story) and with the halifax telling our solicitor last Wednesday that the mortgage offer was being sent that day. (we applied for a mortgage of £99,000).
On Monday of this week our solicitor and mortgage broker chased up the Halifax as noting had come through, they were informed that they were withdrawing their offer due to the restrictions imposed on the house.
This left us devastated as we were due to move in this weekend.
We are appaled at how the halifax have treated us, the surveys clearly state that the valuation had been brought down due to the s106 agricultural clause and for the halifax to state that they dont entertain a s106 agriculture, when the agreement was sent to then in March and they agreed that they would be able to help.
Can anyone tell me of another mortgage company that supply mortgages for new build properties (we do not heed stage payments as the property is built) with a s106 agriculture restricition in Wales?
Our broker is chasing 2 banks that may be able to help, we are willing if no one is prepared to lend to take the planning permission back to the council and higher if needs be. The issue here of course is time. We are currently renting when we could be paying off a mortgage.
Thank you for any replies x
Hope you can help us out - as im worried sick!!
A year ago we obtained planning permission to build a home which was given a Section 106 local needs and agriculture restrictions. Because of the paperwork was so slow coming from the council, our builder started work even though we fully understood if he wanted to wait.
After much chasing the council we finally got our paperwork and could proceed with the mortgage. The restrictions were sent to the halifax and agreed that they could supply us with a mortgage with the terms imposed.This was in March of this year. After 2 surveys both quoting the valuation at £190,000 with the restrictions in place (2 surveys due to issues with the mortgage broker - this is a long story) and with the halifax telling our solicitor last Wednesday that the mortgage offer was being sent that day. (we applied for a mortgage of £99,000).
On Monday of this week our solicitor and mortgage broker chased up the Halifax as noting had come through, they were informed that they were withdrawing their offer due to the restrictions imposed on the house.
This left us devastated as we were due to move in this weekend.
We are appaled at how the halifax have treated us, the surveys clearly state that the valuation had been brought down due to the s106 agricultural clause and for the halifax to state that they dont entertain a s106 agriculture, when the agreement was sent to then in March and they agreed that they would be able to help.
Can anyone tell me of another mortgage company that supply mortgages for new build properties (we do not heed stage payments as the property is built) with a s106 agriculture restricition in Wales?
Our broker is chasing 2 banks that may be able to help, we are willing if no one is prepared to lend to take the planning permission back to the council and higher if needs be. The issue here of course is time. We are currently renting when we could be paying off a mortgage.
Thank you for any replies x
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