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Advice appreciated on Britannia mortgage extension/reapplying.
hunnybunny101
Posts: 1 Newbie
To cut a long story short.....
Hubby and I are first time buyers with a credit rating of 999 each, a 21% deposit and have almost completed buying a house.
The sellers have got everything in place and are moving into a property with no chain. All searches etc will be completed by this Friday. We are hoping to turn our month's notice in for our tenancy agreement the same day, both the sellers and us are looking to move by end April.
The fly in the ointment....our Britannia mortgage offer (active since 9th Dec 2012, when our first house sellers pulled two days before contract exchange on 28th Jan 2013) expires on the 11th April. We have pleaded with Britannia for an extension beyond the four month mark, citing our excellent situation, credit rating, deposit, £90kpa combined income etc etc. They have been as helpful as they can, but can only state that "an extension may be offered with a manager's discretion, only if we receive written notification from your conveyancing solicitors that an agreed completion date is possible within the next two weeks".
Otherwise....I guess we'll have to wait until the 5th May to turn our tennacy notice in, reapply for the same mortgage? There is the worry that our sellers will pull out like the first ones did, if the reapplication process takes too long.
Any advice on the situation/how we can convince Britannia to extend our current offer gratefully received. We have been told that we are the sort of house buyers that mortgage companies and estate agents dream of, but we have been royally screwed through the whole process since starting our house search last November :mad:
Many thanks in advance.
Hubby and I are first time buyers with a credit rating of 999 each, a 21% deposit and have almost completed buying a house.
The sellers have got everything in place and are moving into a property with no chain. All searches etc will be completed by this Friday. We are hoping to turn our month's notice in for our tenancy agreement the same day, both the sellers and us are looking to move by end April.
The fly in the ointment....our Britannia mortgage offer (active since 9th Dec 2012, when our first house sellers pulled two days before contract exchange on 28th Jan 2013) expires on the 11th April. We have pleaded with Britannia for an extension beyond the four month mark, citing our excellent situation, credit rating, deposit, £90kpa combined income etc etc. They have been as helpful as they can, but can only state that "an extension may be offered with a manager's discretion, only if we receive written notification from your conveyancing solicitors that an agreed completion date is possible within the next two weeks".
Otherwise....I guess we'll have to wait until the 5th May to turn our tennacy notice in, reapply for the same mortgage? There is the worry that our sellers will pull out like the first ones did, if the reapplication process takes too long.
Any advice on the situation/how we can convince Britannia to extend our current offer gratefully received. We have been told that we are the sort of house buyers that mortgage companies and estate agents dream of, but we have been royally screwed through the whole process since starting our house search last November :mad:
Many thanks in advance.
0
Comments
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hunnybunny101 wrote: »Any advice on the situation/how we can convince Britannia to extend our current offer gratefully received.
Their position seems fair and clear. Suggest you put pressure on your vendors. Tell them the deadline by which you need to complete.
If all parties pull in the same direction then anything is possible.0
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