Trying to buy a new build in Scotland

Tiggerdwarfy

We have been told by Bellway that we can't pick a property in one of their new sites unless we sell the property that we are in just now. They say that we have to be able to prove that we can fund the full amount for their new build. The flats in our street sell before the estate agents can get boards up so selling isn't going to be A problem. We will own our flat outright by April next year so all the proceeds will be ours, which we will use to pay for 2/3rds ofmthe new flat and have a mortgage in principle for the other 3rd. Surely this should be enough to allow us to proceed? However, they say that we need to provide a letter from a solicitor stating that we can fund the purchase in full without the need to sell our property. The new property won't need to be paid for until May 2019.

I wondered whether we could get round this by

1. Taking the mortgage in principle
2. Taking part of the equity from our existing flat to fund the purchase? We won't actually need this because we will sell the flat before we even need to start paying for it.

Or does anyone have any ideas that would help because I am finding their stance very frustrating. They will allow people to put down deposits and selects plots in other sites but not this one :mad::mad::mad:

glasgowdan

Look at a better pre owned property instead?

Sorry it's avoiding your question, but it's the highly sensible and logical answer.

davidmcn

Or stay somewhere temporary inbetween?

Even if they accept your reservation you'll still have the problem of juggling the (short notice) completion date of your new flat with the expectations of your buyer (who will probably want a definite date of entry).