Help please...

amy2015

I was hoping someone could help... Our sale has fallen through today and I am panicking as we had reserved a new build and was due to complete in 4 wks along with the sale of our place. Now what are our options.. originally we had a mortgage agreed with Halifax for a purchase of £399,995 (through David Wilson) which consists of a mortgage of £293,635, HTB £79,999 and we were paying the remaining balance for a deposit out of the sale proceeds. I am aware that if we use part exchange we will be unable to use HTB, Is there anything we can do in regards to part exchange or is there going to be a shortfall? Our salaries combined are £72k/.


Our sale that has fallen through was on the market for £115k and we had sold it for £115k (leasehold flat with 115years on the lease) and we had a mortgage of £75k, so approx. £40k of equity. Is there anything we can do in order to keep our purchase? Any help would be appreciated.


Thank you

Thrugelmir

You've exchanged contracts?

amy2015

No fortunately not. Just wondered if there was any way we could salvage this?

Thrugelmir

Difficult to see what options you have. Other than to remarket your property and cross your fingers.

amy2015

Yes that was what I thought. Property is back on the market and fingers crossed