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mortgage house sale question.

Crowdpleaser
Crowdpleaser Posts: 1,277 Forumite
Ninth Anniversary Combo Breaker
in Mortgages & endowments
Hiya. Our buyer pulled out tues evening due to length of chain. We secured another buyer yesterday for 5k more. We have a mortgage in place for new property with nationwide. We are not bothered about using the 5k on mortgage happy to hold for building works so mortgage payments will stay same. Will we need to go thru further application as all the documents say we are sellung for x when actually we are now selling for x plus 5k?

Thanks!

Comments

  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    It will not effect the mortgage side, as you are still buying at the same price.

    You will clearly need to get Solicitors involved and their paperwork will certainly change, although doubt they are too far down the road from the information provided.

    Talk about bad news turning good - all the best
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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