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Experiences of Mortgage lending with contaminated land search fail?
Phirefly
Posts: 1,605 Forumite
Our buyers solicitors have said there's been a fail on the contaminated land search on the property we're selling. They are 'awaiting further information' from our local authority and awaiting confirmation from the bank that they will still lend under these circs. Apparently this is all out of their hands so they have no idea how long it will take.
I called our local authority who said that should a solicitor contact them regarding this issue, there would be no 'waiting for further information', they would simply be directed to a pdf file on the borough councils website which details the land contamination strategy. She said ALL urban areas will register land contamination to some degree, but there is no risk to people or property in our postcode.
I understand that lenders need all the information and to assess potential risks but this smacks of ridiculousness. Our house is in the middle of a dense residential area, with numerous houses having been bought and sold in close proximity in recent times. I refuse to accept that all of these homes are unmortgageable and nearby properties have all been bought for cash. We had no issue when we bought it with a mortgage 8 years ago.
I'm partly hoping this is all just silly delaying tactics on the buyers side as they are having issues with their buyer. Has anyone here experienced issues with lenders under these circumstances? Can anyone tell me anything that might help me from going out of my tiny mind with frustration right now? TIA....
I called our local authority who said that should a solicitor contact them regarding this issue, there would be no 'waiting for further information', they would simply be directed to a pdf file on the borough councils website which details the land contamination strategy. She said ALL urban areas will register land contamination to some degree, but there is no risk to people or property in our postcode.
I understand that lenders need all the information and to assess potential risks but this smacks of ridiculousness. Our house is in the middle of a dense residential area, with numerous houses having been bought and sold in close proximity in recent times. I refuse to accept that all of these homes are unmortgageable and nearby properties have all been bought for cash. We had no issue when we bought it with a mortgage 8 years ago.
I'm partly hoping this is all just silly delaying tactics on the buyers side as they are having issues with their buyer. Has anyone here experienced issues with lenders under these circumstances? Can anyone tell me anything that might help me from going out of my tiny mind with frustration right now? TIA....
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