We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
New build complete before ready?
katebyrne
Posts: 27 Forumite
Amid the current panic I am wondering if we can complete before moving in? Only waiting for painting and decorating and garden. Mortgage offer expires in May so panicking if site shuts down. If mortgage extension required, do they recheck credit files/bank statements etc?
Thanks!
Thanks!
0
Comments
-
The mortgage lender won't release the funds until the house has its Building Completion certificate and the warranty has been issued. So, in all likelihood, you can't.
It would also be a bad idea because if the developer has your money the work will dramatically slow down on the house, and you'll be struggling to get them round to finish cosmetic stuff.
It's often possible to get an extension to a mortgage offer, and if it was needed because of these sort of extreme circumstances then you'd hope they'd be understanding.0 -
If you complete before you move in, where will you live?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
-
May is a LONG way away. IF ... you're affected by the current unexpected changes in lifestyle, I bet there's something done by mortgage companies to just do extensions for people because they won't have the time/manpower to start from scratch + they'll need the business/income ASAP to make sure it doesn't drag them down.
May .... is a looong way away though. I'd not worry and just see how it turns out.
Also, the recent drop in interest rate will be to their benefit as they "lock in" the money when they borrow on your behalf to lend it to you .... so it's not like rates shot up and they have decisions to make. It's a no brainer to extend everybody by a month or so.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards