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What to do now. Start over?
jodenice
Posts: 378 Forumite
OK my seller has pulled out of her property that she is buying and the chain is collapsing.
My mortgage offer ends in May.
I need some ideas.
What can i do to persuade the current seller to still sell me her flat (i admit this isn't likely but I'll give it a go) even if she herself currently does not have a place to buy?
If no joy there, what do i do about my current mortgage? Can you transfer a mortgage? Is it only applicable to the current property? If I found somewhere else do I basically start over? Will they need to recheck everything all over again.
Help please?
x
My mortgage offer ends in May.
I need some ideas.
What can i do to persuade the current seller to still sell me her flat (i admit this isn't likely but I'll give it a go) even if she herself currently does not have a place to buy?
If no joy there, what do i do about my current mortgage? Can you transfer a mortgage? Is it only applicable to the current property? If I found somewhere else do I basically start over? Will they need to recheck everything all over again.
Help please?
x
0
Comments
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It's always possible that your vendor may move out & continue with the sale, you can only ask...
As for your mortgage you can ask your mortgage company to extend it if neccessary, not all companies will do this though because rates may have risen since your offer was agreed. However, if you find a new property you will have to pay for a new valuation because obviously the mortgage will have to stand up against any new property you find.
I would suggest first off that you talk to the EA or the vendor if you have a good relationship with her & see how the land lies.
GOOD LUCKThanks to all who post comps :A :T0
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