access to the rear of property and mortgage offer

zdybka.mila

Hi everyone,

We're first time buyers and we have been offered a mortgage from Barclays. It was all going great, we were almost exchanging the missives (there was small issue in there so we had to wait until solicitors will change it). Suddenly our solicitor decided to contact sellers about the rear of property, there's a gate and a paved space where sellers probably kept their car. Sellers has no right for this access, so after that our solicitor contacted bank for approval. However the surveyor advised valuation of the property is not effected due to the issue described above.
Now we are awaiting Barclays response about it and we're stressed that now they will decline the mortgage offer they gave us and we'll lose this house. Did solicitor have to contact bank about it even if it has no impact on the property price? What can be bank response, what issue can they see by this situation?

Thanks for any replies

Thrugelmir

zdybka.mila wrote: »

Did solicitor have to contact bank about it even if it has no impact on the property price?

Solicitor works for the lender just not you. Though you pay the lenders costs. Lender is advancing the funds , what action to take, if any, is theirs to make.

davidmcn

Solicitor can't decide whether there's any effect on value as they're not valuers (and haven't even visited the property) so it's correct for them to highlight assumptions which the valuer has got wrong. Bank won't care if the valuer doesn't care. Stop worrying!

kingstreet

zdybka.mila wrote: »

However the surveyor advised valuation of the property is not affected

So no problem then.

It just needs the lender to communicate that to the solicitor.

zdybka.mila

Valuer didn't value the house with this gate, so the price of the property is not changing at all as this gate has no formal rights to exist and it was not included anywhere in the offer that property has it's own parking space. I think valuer done his job properly. My only worry is what bank could say now and what issue this gate can cause for them to decline mortgage offer.

kingstreet

The surveyor has told them this has no impact on the value nor the security. The lender uses this opinion to determine the outcome therefore nothing is going to change.