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6 month rule
Comments
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Senior_Paper_Monitor wrote: »Its now a new build - brings a few restrictions in. What LTV ?
Is there any sign of a back to back sale being involved (contrived same day transaction usually for tax avoidance) ? Seems unlikely as it appears that this is being turned down at survey rather than conveyance level.
I still reckon its doable without breaking too much sweat.
Ltv is 85%. Could this be the issue?
Just to confirm, I am being told by broker before any survey or valuation that its a no go.0 -
I still can't see the problem !
How long have they actually owned it - a 'renovate from top to bottom' must have taken some time ?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
lorrainec88 wrote: »but we are paying about 2.5 times what they paid.
That's a heck of an uplift in a few weeks/months.0 -
85% shouldnt be a problem.
Find a new broker. The one you have spoken to sounds like theyre either lazy, too busy or dont know what theyre talking about.
As Senior Paper Monitor says, there isnt an issue here. Some lenders are out yes, but there will still be a few to go at.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Senior_Paper_Monitor wrote: »I still can't see the problem !
How long have they actually owned it - a 'renovate from top to bottom' must have taken some time ?
In a nutshell - house was on land bought by brother one, to build houses on. Were going to knock iT down but Brother two took it on and has been refurbishing for at least 8 months.
Transfer of title to brother two was is refurbishing has only taken place recently.
Reckon house has another two or three months till done. Lots of delays.
I appreciate all your helpful comments thank you for taking the time.0
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