Mortgage offer withdrawn 3 hours before completion

j_j_mooney

Hi All,

I was wondering if anyone could give us some advise.

Myself and my brother are in the process of buying myparents house off them. Completion was due on Thursday (05/04/12) at 12.15pm at 9.30am our solicitor got a call from Santander to say they were not happy with the transaction and they were withdrawing the mortgage offer. Obviously we are all devastated as my parents were looking forward to renting and downsizing and being able to enjoy their retirement with some money in the bank and we were excited to own the property we grew up in. My father suffers from Bi-polar and has taken to bed since Thursday, he hasn’t eaten or spoken to anyone and we are so worried. We just want to get this sorted once and for all.

Santander said that they were not happy with the wording on a letter our solicitor sent in relation to the gifted deposit my parents we contributing towards the sale.Basically we bought the house for £200,000.00 my parents were gifting us £50,000 from the sale of the house meaning our mortgage was for £150,000.00. Our mum and dad still owed £76,000.00 on their mortgage leaving them with £74,000.00. We have gotten our solicitors to reword the letter they are disputing and send it again which they have done. Santander have agreed to send it on to their lending team to look at again but it is not looking to promising. Is there anything we can do about this? It was literally 3 hours before completion when they pulled out and we cannot understand why. We have provided them with everything they have asked for so we want to know were we stand. Can we appeal this to any outside bodies?

Any advice would be much appreciated.

Many thanks



Jim

j_j_mooney

Hi,

More information that might help:

My parents were planning on moving into a rented bungalow in the same area. But the people they are renting it from are not willing to wait any longer so it looks like they might loose it. Santander were aware from the very start of the application that the gift was from my parents we even had to send a letter to them from my parents stating that they are gifting the money and they do not expecting it back. Santander have said they were not aware but our solictor even showed us the application and it is clearly stated that it is a gifted mortgage. I just can't believe they can do this on us at such a late stage. We are absolutly horrified.

I should have mentioned, on Thursday after we heard this news our broker advised us to submit an application to halifax which we did and they have accepted and they haven't even asked for any income details they are now just asking for payment for a surveyor so fingers crossed if santander don't come back with a favourable answer we can go with halifax although i do find it strange they haven't asked for any financial information from us and also there is no record of them checking my credit report.

Again any advice would be much appreciated

Beckyy

Your broker would still still have proof of income etc. so probably would have used this for Halifax?

Best of luck. If you're not going with Santandar, check if there are any fees that you have already paid and can be refunded.

DVardysShadow

Crossposted https://forums.moneysavingexpert.com/discussion/3893019

j_j_mooney, your other thread was up to 10 replies by about 10 am. And then you come here and post it again 2 hours later. So anyone could spend time answering here only to find that their time was wasted because someone had already given the answer.

If you must cross post - and in general it is bad form - at least say so on both threads.

j_j_mooney

DVardysShadow wrote: »

Crossposted

j_j_mooney, your other thread was up to 10 replies by about 10 am. And then you come here and post it again 2 hours later. So anyone could spend time answering here only to find that their time was wasted because someone had already given the answer.

If you must cross post - and in general it is bad form - at least say so on both threads.

Sorry I am new to the forum and to forums in general so I don't know the rules but I really don't appreciate your tone in the email. Calm down are you not supposed to be nice and helpful with new members RELAX

DVardysShadow

j_j_mooney wrote: »

Sorry I am new to the forum and to forums in general so I don't know the rules but I really don't appreciate your tone in the email. Calm down are you not supposed to be nice and helpful with new members RELAX

If you feel the tone was wrong, how would you have written it to convey the same message?

j_j_mooney

DVardysShadow wrote: »

If you feel the tone was wrong, how would you have written it to convey the same message?

Something like this.

Hi Jim,

I notice you have posted the same query on the mortgage forum. I totally understand you are new to the forum so you probably don't know all the do's and don't's yet but you should really only post your queries in one forum just so other members aren't having to reply to your posts in two different places.

Hope this is helpful. Any questions let me know :-)

DVardysShadow

j_j_mooney wrote: »

Something like this.

Hi Jim,

I notice you have posted the same query on the mortgage forum. I totally understand you are new to the forum so you probably don't know all the do's and don't's yet but you should really only post your queries in one forum just so other members aren't having to reply to your posts in two different places.

Hope this is helpful. Any questions let me know :-)

Actually, you missed the biggest part, which was the reference to the other thread. This is to assist regulars in finding where the action is on your query and to save them from wasting effort on a duplicated answer.

This is not all centred on you - the bit past the link was an extra bit by way of explanation, which I have been pulled up for not posting in the past.. If you don't like it, I'm not particularly minded to apologise. I am probably writing the same post about every other day and you'll just have to accept that regulars are weary of telling newbies not to crosspost and weary too of being caught out by cross posts.

j_j_mooney

DVardysShadow wrote: »

Actually, you missed the biggest part, which was the reference to the other thread. This is to assist regulars in finding where the action is on your query and to save them from wasting effort on a duplicated answer.

This is not all centred on you - the bit past the link was an extra bit by way of explanation, which I have been pulled up for not posting in the past.. If you don't like it, I'm not particularly minded to apologise. I am probably writing the same post about every other day and you'll just have to accept that regulars are weary of telling newbies not to crosspost and weary too of being caught out by cross posts.

Just a quote from MSE on etiquette

"Sadly new posters seem to be treated harshly more often than they used to. Often it's because they ask questions that have already been asked, or post in the "wrong place".
There's also sometimes a "this is our board" attitude that seems to not want new posters coming in and ruining a pre-established clique.
To be utterly clear - both of these go against the philosophy of this site.
MoneySaving should be fun. Everyone using these boards is here for the same reason, to save money. The site's motto is "Please be nice to other MoneySavers". If you see someone being rude to newbies please report them to [EMAIL="forumteam@moneysavingexpert.com"]forumteam@moneysavingexpert.com[/EMAIL]."

This post is the first I've posted and I don't think I'll bother posting again. I was asking for advise at a very stressful and emotional time and the last thing I needed was a know it all being petty. DID YOU ACTUALLY READ MY POST. Don't bother replying i'll be deleting post my posts as i really can't be bothered with people like you. Get a life.

Caleb11

Well said!!! Big it up for the newbies!! Woopwoop

whitewing

Jim,

Unfortunately newbies do often first post at stressful and emotional times. It's part of the fire-fighting stance that often brings people to MSE in the first place. Once you've commented on the forums a while (rather than lurked), you do see things slightly differently. DVS makes a very valid point and, viewed without emotion, it was fine. When posts upset you it is better not to respond straight away. If we think you're being treated unfairly, someone will soon stick up for you.

Whatever happens next, you will get some sound advice and ideas if you stick around.