Chain possibly collapsing - help!

jparnell

Hi,

Up until today we thought we were a few days away from exchanging on the sale of our house and purchase of one.

However, the estate agents have phoned to say our vendors have pulled out of their purchase due to an adverse survey and issues with building regulations. We understand why they've done it but obviously means us and our buyers are now waiting for them to find another house and them then having to complete the legal work again The problem is that my wife is now on maternity leave and our mortgage offer expires at the end of October and im worried the bank may not extend it.

Initially they have ruled out our suggestion of moving into rented accommodation and breaking the chain.

We're wondering about offering some money to them towards rental fees. Has anyone had any experience of these situations? We stand to lose at least £1500 in search and solicitors fees if the move collapses.

James

pawpurrs

You can offer to help with their costs, but they may well refuse, a lot of people wont want to move in to rented, if their house is one that will easily resale, the likely hood is less likely that they will want to do that, its a horrible system, i have been there myself. Most people wont want to move in to rented as it means they are tied in for six mths, and have to move twice.

loopy94

I am in the middle of the house buying and selling process and had the mortgage approved whilst on maternity leave. Our lender just wanted a letter saying I was still employed, when I went back and my annual salary. They said they can't discriminate against someone on maternity so will take your usual wage into consideration. Hope that helps.