Debts repay on or before completion?

kingstreet

I can't tell you that. I don't know if this has to be repaid to make the mortgage amount you've applied for affordable.

You need to ask your advisor and if the individual is away, someone else should cover for him. If it's a chain, ask to speak to the area manager.

LeeWillRockYou

Thank you for your help.

amnblog

Conditioning the offer based on settlement of existing debts is a tricky one for the Lender to enforce as they rely on the solicitor to ensure it happens.

We have seen some solicitors who ignore these conditions and others who are pedantic about them.

Such is the difficulty in managing this, that one major Lender has made the policy decision to base affordability on all cases by assuming no existing debt is to be redeemed. They enforce this even if debt consolidation is the purpose of the mortgage.

For our poster Lee, his mortgage broker is the best source of support on this matter and one would hope there is someone available to advise whilst the broker is away.

Part of the lesson here is that, particularly at this time of year, it is important to ensure your broker has someone covering if they are scheduled to be away.

LeeWillRockYou

So I called the helpline and the person at the end of the phone wasn't trained enough to deal with my problem????? To be fair to her, she was helpful as much as she can be.

But my experience so far, whilst being somewhat smooth, still fills me with concern considering the amount of mistakes they make and all the money (my money) that's being handled during this transaction, fees and whatever else I'm having to pay.