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House buyers insist on 'No vote' clause for Scottish purchases

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  • System
    System Posts: 178,377 Community Admin
    10,000 Posts Photogenic Name Dropper
    beecher2 wrote: »
    No it is only binding when missives are completed. I

    Never heard of them. But the contract does become binding at an earlier stage than in England?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    Clifford_Pope wrote: »
    Never heard of them. But the contract does become binding at an earlier stage than in England?

    We conclude missives fairly swiftly and offers are made through solicitors and are fairly detailed, so most would go on to completion. Mortgages are sorted out, searches completed, entry dates etc sorted out before missives are signed. No solicitor would allow you to conclude missives if something could go wrong before you get the keys.
  • dotdash79
    dotdash79 Posts: 1,069 Forumite
    HAMISH_MCTAVISH wrote: »
    They knew which currency they were joining and the old currency ceased to exist, meaning all transactions could be exchanged at one point in time with no risk of ongoing divergence.

    The also knew which central bank it would be governed by.

    And the framework for transition was clearly laid out.

    Scotland has no idea of any of that....

    Nor do the lenders operating in Scotland.

    To claim there would not be very significant disruption is frankly bonkers.


    Didn't the exchange rate get locked at a certain date a few months ahead?

    I would expect outstanding mortgages to be paid in GBP and the amount to vary each month with the exchange rate.

    I believe that large number of Icelandic mortgages were priced in Euros which was great until things took a turn for the worse.

    http://www.businessweek.com/magazine/content/10_46/b4203014884383.htm
  • in_my_bumble_opinion
    in_my_bumble_opinion Posts: 1,386 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    CLAPTON wrote: »
    Lloyds bank is registered in Scotland

    Lloyds Bank plc is registered in London.
    ''He who takes no offence at anyone either on account of their faults, or on account of his own suspicious thoughts, has knowledge of God and of things devine.''
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    in_my_bumble_opinion wrote: »
    Lloyds Bank plc is registered in London.

    I think he's thinking of TSB which is no longer part of Lloyds and is registered in Edinburgh.
  • in_my_bumble_opinion
    in_my_bumble_opinion Posts: 1,386 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    beecher2 wrote: »
    I think he's thinking of TSB which is no longer part of Lloyds and is registered in Edinburgh.


    I really must brush up on my mind-reading skills. :)
    ''He who takes no offence at anyone either on account of their faults, or on account of his own suspicious thoughts, has knowledge of God and of things devine.''
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    in_my_bumble_opinion wrote: »
    I really must brush up on my mind-reading skills. :)

    I'm probably wrong as Clapton has form in following bizarre 'logical' paths ;)
  • in_my_bumble_opinion
    in_my_bumble_opinion Posts: 1,386 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 5 September 2014 at 9:29PM
    Just a thought, but can't we just have one, big panic-mongering thread instead of half a dozen? :)
    ''He who takes no offence at anyone either on account of their faults, or on account of his own suspicious thoughts, has knowledge of God and of things devine.''
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    in_my_bumble_opinion wrote: »
    Just a thought, but can't we just have one, big panic-mongering thread instead of half a dozen? :)

    Soon be over.

    If it's a YES vote. Then somebody will have to set up a forum for people to debate the finer points on.
  • sss555s
    sss555s Posts: 3,175 Forumite
    CLAPTON wrote: »
    Lloyds bank is registered in Scotland

    Headquarters 25 Gresham Street
    London EC2V 7HN, United Kingdom

    http://en.wikipedia.org/wiki/Lloyds_Bank
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