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For those that are worried about getting a mortgage, please read my experience...
confuzzled2014
Posts: 37 Forumite
Hi all,
Just to let you know, we got the keys to our house 1st May:j:beer: ...
To those that want to dive off the earth, I can understand. Stick in there and don't give in, however stressful it can become, as I understand at the moment, it is hard work out there.
Please see the below events we went through:
- We had a battle (after our offer had been accepted and the house 'reserved') with our loan company to remove a black mark on our credit file that was incorrectly placed. This took x3 weeks and involved the Financial Ombudsman. We obviously won the case but nearly lost our house that had been taken off as sold for a few weeks by this point. I had to chase the Fin. Ombudsman to fast track it, but they were excellent
- Our bank took us on for an application during the above, they said it would be fine. They then, after FOUR weeks, after the above had been sorted, decided to let us down because of an overdraft charge (that was resolved in the same day and we even had the overdraft £6 fee refunded because it wasn't over 12 hours...
- We then applied through another bank who said it would be okay, however, our solicitors decided they would delay because there was land to the side of the property not included in the sale or valuation but they wanted to re confirm this. Our Estate Agents were looking at this point to get the house back on the market, we begged for a few more days. Very stressful.
- We HAD to then eventually give a months notice on our rented house because we wouldn't be able to afford a months rent of £700 and our first mortgage payment of £800 at the same time. So we HAD to risk it, however, we were told we would be completing 25th April and all looked well. We had our offer letter by this point.
- 25th April came...and went. Our's and the seller's solicitors had failed to notice a restriction on the land registry report (even though I had phoned up about it in Feb to say is this normal and they said they would deal with it)
- We became homeless...and then were rescued by family including our cat and dog, who my partner's father was allergic to...
- My partner was told his work were making redundancies in the next 3 months so this put stress on us. He had last week had it confirmed that he will now not be affected.
- I then found out MY work were making redundancies within the six months (you couldn't make it up) so I got a new job
- Our sale didn't go through in time because of the restriction, however, a few days later the report was downloaded by our solicitors and the restriction had been removed...hurrahhh we could complete that day!!! Wait...then THEY ONLY FOUND OUT THAT ANOTHER TWO RESTRICTIONS HAD BEEN ADDED DURING THE TIME THAT HAD PASSED!!!!!!!!
- I nearly had a breakdown...
- An official receiver and our solicitors discussed the restrictions and an application was put in for it to be removed on April 29th
- We had up until 3:30pm to complete on May 1st, at 2:30pm an email from the Official Receiver still hadn't arrived...Our solicitors had the money ready, but could only keep it until 3:30pm as they had had it a few days. If they had to give it back, it would of then taken TWO weeks for it to reach them again to start from scratch...
Finally, 2:50 it arrived and we completed.
I am NEVER moving again...!!!!!!!!!!!!!!!!!!!!!!!
:(:(:(
But, hang in there if it gets tough.
If you pay your bills on time, can hold down a job and respect your money, there are people out there that will help. But one thing, check your credit report wayyyy before you apply and also, if you feel something isn't right, chase chase and chase your solicitors.
And liaise with the seller where possible, that really helped.
Just to let you know, we got the keys to our house 1st May:j:beer: ...
To those that want to dive off the earth, I can understand. Stick in there and don't give in, however stressful it can become, as I understand at the moment, it is hard work out there.
Please see the below events we went through:
- We had a battle (after our offer had been accepted and the house 'reserved') with our loan company to remove a black mark on our credit file that was incorrectly placed. This took x3 weeks and involved the Financial Ombudsman. We obviously won the case but nearly lost our house that had been taken off as sold for a few weeks by this point. I had to chase the Fin. Ombudsman to fast track it, but they were excellent
- Our bank took us on for an application during the above, they said it would be fine. They then, after FOUR weeks, after the above had been sorted, decided to let us down because of an overdraft charge (that was resolved in the same day and we even had the overdraft £6 fee refunded because it wasn't over 12 hours...
- We then applied through another bank who said it would be okay, however, our solicitors decided they would delay because there was land to the side of the property not included in the sale or valuation but they wanted to re confirm this. Our Estate Agents were looking at this point to get the house back on the market, we begged for a few more days. Very stressful.
- We HAD to then eventually give a months notice on our rented house because we wouldn't be able to afford a months rent of £700 and our first mortgage payment of £800 at the same time. So we HAD to risk it, however, we were told we would be completing 25th April and all looked well. We had our offer letter by this point.
- 25th April came...and went. Our's and the seller's solicitors had failed to notice a restriction on the land registry report (even though I had phoned up about it in Feb to say is this normal and they said they would deal with it)
- We became homeless...and then were rescued by family including our cat and dog, who my partner's father was allergic to...
- My partner was told his work were making redundancies in the next 3 months so this put stress on us. He had last week had it confirmed that he will now not be affected.
- I then found out MY work were making redundancies within the six months (you couldn't make it up) so I got a new job
- Our sale didn't go through in time because of the restriction, however, a few days later the report was downloaded by our solicitors and the restriction had been removed...hurrahhh we could complete that day!!! Wait...then THEY ONLY FOUND OUT THAT ANOTHER TWO RESTRICTIONS HAD BEEN ADDED DURING THE TIME THAT HAD PASSED!!!!!!!!
- I nearly had a breakdown...
- An official receiver and our solicitors discussed the restrictions and an application was put in for it to be removed on April 29th
- We had up until 3:30pm to complete on May 1st, at 2:30pm an email from the Official Receiver still hadn't arrived...Our solicitors had the money ready, but could only keep it until 3:30pm as they had had it a few days. If they had to give it back, it would of then taken TWO weeks for it to reach them again to start from scratch...
Finally, 2:50 it arrived and we completed.
I am NEVER moving again...!!!!!!!!!!!!!!!!!!!!!!!
:(:(:(But, hang in there if it gets tough.
If you pay your bills on time, can hold down a job and respect your money, there are people out there that will help. But one thing, check your credit report wayyyy before you apply and also, if you feel something isn't right, chase chase and chase your solicitors.
And liaise with the seller where possible, that really helped.
0
Comments
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Oh my god what a nightmare, this really puts things into perspective. Very happy for you that it worked out in the end... and I don't blame you for not wanting to move again!0
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Thank you dinealone! Nope, definitely will be our forever home!!
Yes it has been an absolute nightmare, I don't want to be a drama queen but it has been horrendous. I thought the best thing to come out of this was just to make it public, it might help other people if they experience (not hopefully ALL!) but one of those problems...0 -
Who was the lender that eventually granted you the mortgage if I may ask?0
-
It was Halifax. They were absolutely brilliant and very sympathetic. We had a lot of advice from London & Country as well.0
-
Again Halifax are being reported to be a great lender... jeez I regret letting our broker go with Accord so much, I should have done more research!0
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