Mortgage Woes from Seller

Romo2912

Hi everyone,

This is my first thread so I hope this is ok!

I have recently sold my home and put an offer in on another property. Myself and my husband have been offered our mortgage. My worries come from my seller. He has been given a mortgage in principle and the survey has been booked. However my solicitor has advised me that he was rejected a mortgage on a previous property. I don't know any other details as to how long ago, circumstances etc. But I am now panicking! Do you think I need to worry or just try and remain calm and see what happens?

Thanks in advance!!

kitty_kins

Hi there - welcome

It says on a previous property, which to me doesn't suggest that it is the property they are selling although I could be wrong.

For the time being, I would try to remain calm - they have obviously been able to get a house/mortgage before based purely on the fact they have a house to sell.

Obviously, we can't know all the details but I would just try to avoid stressing - I hate this house buying lark and I can't wait to complete on mine so that its over

Xxx

Romo2912

Thanks for your reply and thanks for the warm welcome :-) They haven't got a house to sell and are first time buyers, although I know they both have stable good jobs. I must remain calm, as you said. Now I can see why they say that moving house is one of the most stressful things you can do!!!

Thanks again :-) x.

RickyC_IFSWP

Yes remain calm.

A chain property purchase is always higher risk because so many people are involved... and if something adverse happens, the chain unfortunately breaks. Do the best you can and you can only hope it works out for the other parties involved too. All the best.

amnblog

How does your solicitor know your buyer was rejected for a mortgage on a previous property?

Romo2912

Our solicitor spoke to our buyers solicitor who told her that was the case. Remaining calm :-) x.

amnblog

So your buyer's solicitor is discussing the details of their client's previous transaction with your solicitor.

Nice

Romo2912

They were basically saying that our seller was being cautious because of past experience.

amnblog

There were basically defying the data protection act by discussing their clients business with your solicitor.

travis32

You don't need to worry about it. As it could be some misunderstanding why he rejected on the previous deal. Ask your solicitor how he knows the buyer.

Romo2912

Thanks travis32 I will try not to worry.

Ok amnblog point taken, but don't think you need the attitude! It was said that they believed this had been the case.