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HSBC refusing to release funds without a NHBC..Help
PPK
Posts: 1 Newbie
We are in the process of buying a property and everything has been moving along well. We are now 10 days from the entry date and my solicitor has just informed me that HSBC will not release the funds as the property is not covered by a NHBC and only has an Architect's Certificate. All the missives have been completed and we are now locked into the sale. I've been informed that I only have 2 options. A. I am forced to find a new mortgage with no guarantee we will get the same rate as we had with HSBC and will need to pay the fees again. B. We need a 'premium guarantee' which will take up to 10 days to get a quote which the seller must request, requires us to try to extend the entry date and will cost £3000.. I can't believe we are in this situation, 10 days before we are due to move and this has only come to light now. Surely the solicitor should have sorted this out before. What are our options?
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Comments
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Sounds like you could have good cause to complain about the solicitors, assuming they knew of HSBC's requirements before concluding missives. So possibly up to them to find the cheapest solution given they'll be paying?0
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