Mortgage company refuses to lend due to builders smallprint

Sedwards

Our solicitor has contacted Lindens homes also, and Lindens are digging their heels in, unwilling to change. However, that was before mortgage companies started telling us that they wouldnt offer a mortgage on the Linden houses while that clause is worded as it is.

Buying a new house is obviously going to have all sorts of problems, like delays, over-optimistic "ready" dates, snagging build issues, etc but this just puts us right off and makes us think that all builders of new houses are just writing their own laws.

k3lvc

Niv wrote: »

I am impressed that you have had such a response. Maybe these companies do read emails sent in by concerned citizens.

Whereas I call !!!!!!!! on this - unless the solicitor has the persuasive abilities of Nick Freeman or the OP is buying the company rather than an individual property then 4 mortgage lenders aren't going to pick up the phone in resopnse to a letter from 'concerned of Coventry'.


Is the solicitor trying to make a name for themselves, a newbie being overcautious or genuinely someone who's spotted a previously unspotted glaring error in Linden T&C's ?

AnotherJoe

This would by no means be the first time that a clause in a contract went unnoticed for a long time*. Or that peoples opinions on what's reasonable or isn't take a sea change. Someone posted here some time ago about another builders ts&cs that said you couldn't sell without their permission and for which there would be a fee (without stating what they would be !). The poster was digging their heels in or walked I can't recall which but who on earth at these companies think these kind of clauses are reasonable? And I find it hard to beleive that most people or solicitors would agree to these if they noticed them.

* I once discovered a clause in a travel insurance policy ts&cs that presumably had been sent to thousands of people that had some wording that was obviously inserted by an aggrieved employee which talked about the insurance company ripping off their customers.

Sedwards

We were on-site yesterday evening, checking to see if last weeks fencing, garden wall and drainage issues had been amended and we bumped into another couple who have also reserved a house a few plots down from ours. We chatted and they have both a relation and a friend who are looking at buying on the same site - none of them knew of this “shoot ourselves in the foot” clause in Lindens deeds. Rest assured - they know about it now and have promised that they won’t be keeping quiet about it.

Meanwhile, our solicitors (to answer a previous question, they aren’t new, they’ve over 30 years in the conveyancing business) are still trying to get the mortgage-killing deed of covenant removed or changed.

This is now 4 purchased their abrasive deed of covenant has potentially lost them - unless they change that deed -with more to follow, as word of Lindens Homes latest bad press spreads