Help think I've made a mistake on which mortgage to get!

jackkelly

Hi all, having abit of a panic.
We are FTB's my husband is leaving the RAF on april 16th with a nice lump sum and pension. We have found a house, mortgage in place, surveys and searches complete. We are using his most of his lump sum for our deposit £45000.
Now my problem arising now is we cannot pin the MOD down to a date when he will receive his payment anything from 5-30 days after he leaves they keep saying, surely they have to know when the are making payments to people, 1000's of people are being made redundant this year.
So we can't exchange or complete till we get this money our vendors are aware of our situation from the start and have said they would be happy to go out our pace. But everytime I speak to EA all I'm getting is when is then money coming thru etc etc.
I'm starting to think we should have got a 100% mortgage with a facility to pay extra off.( I don't know if that is available just want to be in my own house ASAP) We went thru a whole of the market broker who got us a fixed rate from the Abbey.
Any way sorry to go on just having a wobbly moment thinking it is all going to go wrong
Cheers for reading

minirolo2004

My word how I sympathise.

JPA, the system that pays us and deals with monies in the RAF is the biggest load of cr*p ever!:mad: All I could suggest is he continues to phone the JPA helpdesk (JPAC) to keep trying to get a definate date.

JPA is pushing me ever closer to visiting the CAB....*scream*!! :mad:

I'm assuming he has tried to see his chief clerk for advice also?

I'm sorry you are having to deal with this situation.

jackkelly

I know don't get me started, the most unhelpful bunch of individuals. You serve for 19yrs then they treat you like you are a massive inconvience to them.
Things is he has started a new job 2 wks ago 8-5.30pm mon-fri so it is impossible for him to get thru to them as he is now a mobile engineer in and out of peoples houses so if they deem to return your call not always appropriate time, and they won't deal with me! Data protection apparently.
All we want is a date don't care when it is just a date so we can arrange around this.
Any way I'm sure it will be fine :rolleyes:
Cheers.

jackkelly

Hi just an update, starting too worry now!
Went to do some measuring up today, when I spoke to the vendor she said we are part of a chain of 3. The person they are buying from is retiring to Greece but is leaving the country on the 26th April so wants to be completed by them come what may.
Now I don't know if we will have our deposit money by then as am I right in assuming we have to complete 1st then our vendors and the guy at the top gets his money last.
Is a bridging loan an option till the MOD payout or is that not an option? I'm starting to get a horrible sinking feeling about this I knew it was going to smoothly up til now
I have contacted our mortgage broker for his advice should I also contact my solicitors.
Any advice gratefully received, many thanks.