Redemption Certificate

Thrugelmir

When you say 5 days. Working days is that?

When's completion expected?

DGJsaver

Thrugelmir wrote: »

When you say 5 days. Working days is that?

When's completion expected?

yes , since last friday

completion due 1/10

DGJsaver

kingstreet wrote: »

Unfortunately not, as increased borrowing could have taken place since the date of the statement.

this is crazy , wheres the vendors responsibility in all this

my sol confirms 30 mins ago that it is still the only charge on the property

like running through water this is

Thrugelmir

My assumption is that the vendor is stalling for some reason.

Who set the completion date of 1/10?

DGJsaver

Thrugelmir wrote: »

My assumption is that the vendor is stalling for some reason.

Who set the completion date of 1/10?

Our thoughts also , and would usually agree , but vendor himself invited us round tomorrow for final checks having assumed we would have exchanged earlier in the week!

EDIT , set by us and him , only the two of us inn the chain , he isn moving to family

ValHaller

DGJsaver wrote: »

Our thoughts also , and would usually agree , but vendor himself invited us round tomorrow for final checks having assumed we would have exchanged earlier in the week!

EDIT , set by us and him , only the two of us inn the chain , he isn moving to family

I would still say stalling. Family may not be ready, he may be waiting for a rental, who knows. The final check invite may just be a cover while he continues to blame his lender.

More seriously he may be in negative equity, perhaps have secured lending and might not have the funds to clear it all.

DGJsaver

ValHaller wrote: »

I would still say stalling. Family may not be ready, he may be waiting for a rental, who knows. The final check invite may just be a cover while he continues to blame his lender.

More seriously he may be in negative equity, perhaps have secured lending and might not have the funds to clear it all.

wouldnt a secured lend show on the title to the house ,in the same way the mortgage is ?

ValHaller

DGJsaver wrote: »

wouldnt a secured lend show on the title to the house ,in the same way the mortgage is ?

It would. OP may be able to find out about this from his conveyancer.

DGJsaver

ValHaller wrote: »

It would. OP may be able to find out about this from his conveyancer.

I already have the title via my sol showing the mortgage as the only charge , and that was double checked yesterday

JimmyTheWig

DGJsaver wrote: »

Why doesnt the vendors solicitor use the contract to show the offer meets what the vendor tells him is outstanding on the mortgage

Because that's only what he _says_ is outstanding on the mortgage.
It sounds like, in this case, that there is little realistic chance of the vendor being in negative equity, but it is something that they always have to check.
On the tiny chance that the mortgage company has lent him more money (on the same mortgage, so no further charges on the house) since the last mortgage statement that have put him into negative equity (once the various fees have been paid) it is the solicitors who would be at fault if they allow exchange to happen in this state.