Mortgage Offer delayed

Junglegirl

Hi,
Sorry I have been missing for awhile - firstly the holiday was booked last February, the house had been on the market for over a year at this time, with several viewers, and two buyers - one who couldn't get a mortgage no matter how hard they tried and the other pulled out within a week of us accepting their offer - we had actually decided to take the house off the market, when buyer number three arrived on the scene. Because of our previous problems, we didn't start looking for our property until our house had been surveyed (a wait of 2 weeks) and then we doubled checked with the EA that the buyer had a mortgage - we were assured he had and that the EA had seen the mortgage offer.

We received a letter asking us various questions about the property (via our solicitors from their solicitor) so we had no reason to be suspicious ... until our solicitor asked us when our house was going to be surveyed as they had no mortgage details. At this point I grilled the EA. Was then told it was a mortgage in principle only they had on file - I asked why I had been told that they had seen the mortgage offer - they blamed inexperienced staff that had since left!

The sale would have been complete but for the tax credit problem ... Our EA also told us that the Halifax had sat on the mortgage paperwork for over 3 weeks before they started to deal with it - I don't know whose telling the truth or otherwise - so the holiday was supposed to be well after the sale - not on the imminent exchange! We work in a financial area, so know it would be 'stupid' to book a holiday in the middle of things just kicking off! Out of all the chain we are the only couple who don't work in a school!
The credit letter finally arrived on Monday this week, it was faxed to the Halifax, they made the mortgage offer on Tuesday morning - this still hasn't arrived in the post, despite promises of the guaranteed next day delivery I guess this is in the normal post!
I called the EA again today and they were going to chase our buyer and their solicitor - I'm beginning to smell a rat.
Now due to holidays at work, me having to cover and the bank holiday and our holiday fast approaching things are getting pretty near to the wire - I could honestly throw the towel in and just walk away - for a first time buyer they don't seem to be at all interested in getting their first house!
So we are nearer, but still as far away .... 'sighs' ... our system needs over hauling! Arrrrrrrrgh

Junglegirl

Once again can I thank everyone for your comments and suggestions. As expected disaster has struck and it looks ike the whole deal is going to fall through. From a chain of 4, its jumped to a chain of 7. The last house in the chain now wants an October completion date. This is unacceptable and we have said so. All our paperwork is complete. However our buyer's solicitor finally got all their mortgage details last Thursday (18th) and our buyer (on Friday 19) has, issued an ultimatum that unless completion is done by 31 August he will walk away.
This seems a little harsh when we have bent over backwards to accommodate all the mistakes that happened on his purchase of our property and there is no way we can complete by 31st due to work commitments and the holiday (both of which our buyer was made aware of when he was actually looking at making an offer on our property) so it looks like its all over .... ohhhh well, time to take the house off the market, pay the fees we have incurred and try not to be bitterly disappointed.
J x

DVardysShadow

Junglegirl wrote: »

This seems a little harsh when we have bent over backwards to accommodate all the mistakes that happened on his purchase of our property and there is no way we can complete by 31st due to work commitments and the holiday (both of which our buyer was made aware of when he was actually looking at making an offer on our property) so it looks like its all over .... ohhhh well, time to take the house off the market, pay the fees we have incurred and try not to be bitterly disappointed.
J x

At least your holiday is safe, which is your biggest priority.

Junglegirl

DVardysShadow, why do you say this >>>>>>


At least your holiday is safe, which is your biggest priority.


I guess you don't know me well enough to judge, so really you have no idea of any of my priorities.