unable to withdraw

drmonk

Onawingandaprayer wrote: »

Awful to lose a potential purchaser, but I'd tell them you're putting your property back on the market.

If they're really interested, it should be the purchaser who's scrabbling around looking for solutions to this problem not you.

And if they can't resolve it, ie find the money elsewhere, I'm sure you'll find another one. Fingers crossed.

I've already lost tenants over this... This was a last minute surprise... I already spoke to my estate agent... I will probably let it out again... It was too good to be true...

opinions4u

Lloyds TSB, Santander and Co-op all operate this way.

Your buyer needs to beg. If this fails progress to complain loudly and rapidly to their provider. If they do this I'd hazard a guess that somebody will back down sooner or later.

AndyinLondon_2

Can your buyer ask his bank to give him a loan to be repaid using the proceeds of his maturing deposit in September. A slightly unusual request for the bank probably, and I doubt it will fit their credit scoring systems, but it's not impossible.

It will cost him a kings ransom in interest and fees though

Xbigman

Something similar happened to me. Cash buyer said they couldn't access their money for 4 months. A junior staff member at the estate agents commented "I wonder if that effects his other purchases", so I put a rocket up the bum of the estate agent in charge of my sale and she admitted the buyer had made "a number of offers" and couldn't complete on them all. What a load of poo.

As above, its the buyers problem to get the money. Give them a deadline and stick to it. Its annoying to lose a sale but sometimes its better to just move on.




X

drmonk

AndyinLondon wrote: »

Can your buyer ask his bank to give him a loan to be repaid using the proceeds of his maturing deposit in September. A slightly unusual request for the bank probably, and I doubt it will fit their credit scoring systems, but it's not impossible.

It will cost him a kings ransom in interest and fees though

It occurred to me as well... That's certainly what I would do if I was in his place... although I'm far to savvy to put myself in such situation in the first place... I contacted the estate agent... They are getting a hefty fee, so they better make it happen, otherwise I'm out... I'm just tired of this nonsense... Third property and every single time there's been a hiccup....

drmonk

The buyer has apparently agreed to pay all money at completion... Thanks for your help yesterday...

ses6jwg

opinions4u wrote: »

Lloyds TSB, Santander and Co-op all operate this way.

Your buyer needs to beg. If this fails progress to complain loudly and rapidly to their provider. If they do this I'd hazard a guess that somebody will back down sooner or later.

I've seen begging and complaints taken all the way to Ombundsmen and them uphold in favour of the bank on this very issue.

opinions4u

ses6jwg wrote: »

I've seen begging and complaints taken all the way to Ombundsmen and them uphold in favour of the bank on this very issue.

There's no way that the FOS should do anything else.

The customer has to find an individual within the bank to have a moment of weakness. Otherwise, doomed.