Buyers lender enquiry - please help

AngelEyes91

Hello everyone,
I'm in a pretty rubbish situation at the moment. Myself and my ex partner bought a house last October, he then broke up with me at Christmas. 
We then put the house up for sale, we were honest and advised the EA that we had only owned the house since October. They spoke to their solicitor and mortgage advisers ahead of selling who stated that it shouldn't be an issue and that we will likely just have to explain our unfortunate situation.
I am going on to purchase a shared ownership flat for myself and our little boy, they want me to exchange by 27th March. 
The buyers of my house have now received their mortgage offer and searches are done. They are now in the enquiry stage and today my EA have received the below email from the buyers solicitor.
Please can someone reassure my mind, this has been such a rubbish year and I am not sure I can take much more bad news.. below is the email from the buyers solicitor-

 "I can confirm that we have raised enquiries with the sellers Solicitors and we are in receipt of our clients mortgage offer.

 We have also reported the short period of ownership to our clients Lender and have raised further enquiries with the sellers in this respect as our Lender will not proceed unless the enquiries are resolved"

Please be kind, this is extremely stressful and difficult, thank you for your advanced help and advise

 

davidmcn

If the mortgage adviser had flagged it at the outset it shouldn't be an issue. What often happens is that the lender's instructions to the solicitor don't tell them about stuff they are already happy with, and the solicitor then has to check about anything which doesn't match the standard criteria. So chances are the answer will be "yes, we already know about that".

AngelEyes91

davidmcn said:

If the mortgage adviser had flagged it at the outset it shouldn't be an issue. What often happens is that the lender's instructions to the solicitor don't tell them about stuff they are already happy with, and the solicitor then has to check about anything which doesn't match the standard criteria. So chances are the answer will be "yes, we already know about that".

Thank you very much for your reply and reassurance, that's very helpful

SMR710

It will be fine. They will no doubt be just a set of generic enquiries that they have to raise and get satisfied answers to if the property has been owned for less than 6 months. If you can set out your genuine reason, all will be fine. If you have owned it since October, 6 months is April so that's not too far away. Always look for the positives and you'll be fine.  I hope you get back on your feet again soon. Everything happens for a reason even if we don't know what that reason is at the time. Chin up and you'll be fine.

AngelEyes91

SMR710 said:

It will be fine. They will no doubt be just a set of generic enquiries that they have to raise and get satisfied answers to if the property has been owned for less than 6 months. If you can set out your genuine reason, all will be fine. If you have owned it since October, 6 months is April so that's not too far away. Always look for the positives and you'll be fine.  I hope you get back on your feet again soon. Everything happens for a reason even if we don't know what that reason is at the time. Chin up and you'll be fine.

Thank you so so much, your words mean a lot and I really appreciate your reply

[Deleted User]

As long as the buyers broker was aware of the short ownership then it will be fine i'm sure.   I do these quite regularly and we know which lenders to avoid.  

As David says, they will just be sending a memo to the lender and expect a response to crack on as it fits criteria. 

If the broker has placed with the wrong lender then he/she might have to move lenders.  Its generally a black and white rule.   It sounds like everyone was up front about it all so it sounds like it will be fine.  

AngelEyes91

Deleted_User said:

As long as the buyers broker was aware of the short ownership then it will be fine i'm sure.   I do these quite regularly and we know which lenders to avoid.  

As David says, they will just be sending a memo to the lender and expect a response to crack on as it fits criteria. 

If the broker has placed with the wrong lender then he/she might have to move lenders.  Its generally a black and white rule.   It sounds like everyone was up front about it all so it sounds like it will be fine.  

Thank you, I hope they told the mortgage adviser as they were definitely aware. I vaguely remember the EA saying that they were but cant remember for sure. That's reassuring to hear that you deal with this often, I guess its more common that I realise. Thank you for your reassurance.