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junction improvements and affect on mortgage offer
hampster
Posts: 4 Newbie
Hi all hope you're all happy and well
Im looking for some advice our local search has revealed that there is a proposal for junction improvements at the end of the road well aprox 194 meters away from the house we are due to complete on 27th of june and our solicitor has reffered this to our mortgage provider. As our solicitor is on holiday we are very concerned about wether this is likely to result in the withdrawal of our mortgage? Any opinions or experience of this situation would be very welcome
Many thanks in advance
Im looking for some advice our local search has revealed that there is a proposal for junction improvements at the end of the road well aprox 194 meters away from the house we are due to complete on 27th of june and our solicitor has reffered this to our mortgage provider. As our solicitor is on holiday we are very concerned about wether this is likely to result in the withdrawal of our mortgage? Any opinions or experience of this situation would be very welcome
Many thanks in advance
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Comments
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No idea of what the result will be, but the lender will refer it to the surveyor who valued it to see if the valuation is affected.Hi all hope you're all happy and well
Im looking for some advice our local search has revealed that there is a proposal for junction improvements at the end of the road well aprox 194 meters away from the house we are due to complete on 27th of june and our solicitor has reffered this to our mortgage provider. As our solicitor is on holiday we are very concerned about wether this is likely to result in the withdrawal of our mortgage? Any opinions or experience of this situation would be very welcome
Many thanks in advance
More than likely the surveyor was aware of it and factored it into the valuation in the first place, but the solicitor has been cautious and the lender will want the surveyor to confirm he's happy with it.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thank you kingstreet you are correct the bank has contacted the surveyor and he has written to my sol to inform this has no effect...happy days0
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The more important thing should be how it will effect your decision as to whether this property is a good investment.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.0
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