Presice Mortgage Extension Possibility?

Jtotz67

Hi all,


I will try to keep this as brief as possible!

We have a mortgage offer with Precise, due to expire on 26th July.


We have some time left on that BUT if we do not exchange by Friday we have to give another month's notice on our rental place and cannot afford to do that and pay a mortgage at the same time.


So we wondered if we could get our mortgage offer extended to allow us to push timings back a month.


I am aware that their conditions say that you have to re-apply but I was wondering if any brokers had any first-hand experience of just getting them extended without the re-application?


The delay is entirely from the seller's side as her solicitors have been completely non-responsive since 12 June and they knew we were working to this tight deadline. We have been putting all manner of pressure on but radio silence!

We really don't want to apply again - do we have any hope?! I am at the point of sheer desperation.

bengalknights

You should be able to speak with them and they would extend

Have you tried asking the sellers solicitor if they will pay the rent due to delay? Its a buyers market at the moment.

Jtotz67

Thanks so much for the prompt reply. That’s good news that it might be a distant possibility.

We have issued all manner of threats, ultimatums, begging, pleading and just no communication from them whatsoever. My solicitor has about 6 I returned letters and emails and 4 I returned voicemails.

Horror show! I’m never conducting a property transaction with them on the other side again!

Jtotz67

Unreturned apologies!

Mortgage_Adviser

OP, it is normally about one and a half month after the completion when the first mortgage payment comes out of your account. so you should be fine on this.


When you know for sure when the completion is happenning if your rent payment day falls before, don;t pay the rent as in this case the landlord will deduct it from your deposit.