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Re - House Sale possibly falling through - options
Comments
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redman1989 wrote: »Not quite, our payments are £200 a month we own 80% of it.
My question is still though, would this even be raised at any point during the transaction now? how would they be made aware, we wouldn't be renting it and would plan on having it sold ASAP could be during the purchase or slightly after. having reviewed the mortgage offer it doesn't have reference anything to do with our other property.
Yes, they will ask. Possibly several times! I bought my new house without having sold my old one. The deposit came from another source. I owned my old house outright. The mortgage company for my new house were quite insistent in knowing all the details about the status of my old house for affordability reasons. I told them I was planning on renting it out (I wasn't). Bear in mind my new mortgage is only for 65k and I had a LTV of 22% and they were still very concerned that I would not be paying bills for two houses.0 -
redman1989 wrote: »Thanks -
Did you make the mortgage lender on your new property aware of this & was their any issues.
I think our buyer is just super super slow with 0 urgency, we have just been contacted from the survey to tell us it's been booked in and asking our availability.
Your solicitor will tell them. Literally the second they realise. You will lose the mortgage offer. It's really that simple.
If you choose to ignore what I'm saying because you don't like it, it's not my backside that will get burnt0 -
Find another buyer?0
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