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How long do I give them?
stu007
Posts: 432 Forumite
I'm a FTB (3 bed terrace £150k), in a chain of 2 houses. The one I'm buying and the one my vendor is moving to.
I've recieved my contract from my solicitor, recieved my mortgage offer, signed everything, crossed the T's dotted the I's and given my solicitor a fat cheque with my deposit!
Phoned the EA today for a update, hoping for some kind of date seeing as I'm ready to move. Slight problem.......
The vendor is now having problems getting their mortgage, thought they already had that in place, but obviously not!!!
The problem they have is the property they're buying is too near a river?!
Will they be able to get a mortgage ok, or is this likely to be a major issue?
Also how long do I wait? prices in my area have already gone up 5-10K since my offer was accepted just before xmas, so if the sale goes through I've got what looks like a good deal. If it doesn't I'm left needing to find more money!!
I've recieved my contract from my solicitor, recieved my mortgage offer, signed everything, crossed the T's dotted the I's and given my solicitor a fat cheque with my deposit!
Phoned the EA today for a update, hoping for some kind of date seeing as I'm ready to move. Slight problem.......
The vendor is now having problems getting their mortgage, thought they already had that in place, but obviously not!!!
The problem they have is the property they're buying is too near a river?!
Will they be able to get a mortgage ok, or is this likely to be a major issue?
Also how long do I wait? prices in my area have already gone up 5-10K since my offer was accepted just before xmas, so if the sale goes through I've got what looks like a good deal. If it doesn't I'm left needing to find more money!!
0
Comments
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Go back to the EA and ask them to speak with the vendor.
If the vendor is using a "whole of market" broker, and they are OK financially, then it shouldnt be tooooo much trouble to switch products.
the issue MAY arise if the vendor is trying to port thier mortgage as they are in a fixed term and the current lender wont accept the river issue.
Go back to the EA and get them to dig around for you.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0
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