Help ! Unable to sell flat

YvieBea

I’ve had major problems trying to sell my flat . The buyer was told by all lenders that her mortgage won’t be approved as I have a timber decked floor on my balcony ! Apparently my factor ( I live in Scotland ) and the estate agent knew about this, but both failed to inform me , even though they knew the flat was going on the market. I’ve had to pay for a home report , have £3000
lefal fees to pay for the buying of my flat and the purchase of my new home , which I have now lost. I’ve contacted all parties , including my lawyer , and I’m getting nowhere . All they are saying is that nothing can be done at the moment due to the COVID 19 situation. I’ve had no answers , I’m in a flat that’s all packed and ready to move and I’m now out of pocket . I’ve refused to pay the estate agent and the legal fees until I get some answers . My building is less than 18 metres high . There’s no cladding on it, it’s the timber floor on the balcony. I’ve been told that ALL the balconies (6 of them ) will have to be fire proof, not just mine. I’m absolutely furious that we weren’t informed of this . Will we have to pay to get our balconies done and have I got a case to take legal action against my factor and the estate agent ? Many thanks 

jonnygee2

It's up to the mortgage lender if they will lend or not, and if your buyer can't find a mortgage lender then they almost certainly can't buy your house from you.

Are you saying that your estate agent was specifically told, by the buyer, that they could not get a mortgage on the property after approaching lenders, and that they failed to inform you of this promptly? Or are you saying they were generally aware of these kinds of difficulties being common with your kind of property?

davidmcn

It's not the factor's job to give you advice about the mortgageability of your flat.

Hasbeen

Its a flat. Would not imagine its a huge balcony? Just lift the timber decking. Why would other flats in the block have to be fireproofed in order to sell?

Why would the estate agent and the factor know about this? Legal action??

Also sellers have to by law in Scotland have to pay for the pretty useless home report/bumph that is given free to would be purchasers. So what did that say?

AdrianC

You got a mortgage when you bought it, didn't you?

TripleH

To be fair to the Op, is the issue due to new rules that have comen in since the Grenville fire regarding cladding? If the Op bought before the fire,  they may not have had any issues (although it is the responsibility of owners to check for applicable changes in legislation that might impact on them). 
Regarding the removal of the balcony floor, is there material underneath the wood or air?

[Deleted User]

Hi,

here's a buyer with a similar problem, read.

benbay001

Hows a timber belcony any more a fire hazard than the timber floorboards of my flat?

TripleH

benbay001 said:

Hows a timber belcony any more a fire hazard than the timber floorboards of my flat?

I think because your timber floor will be inside and you have a greater chance of restricting oxygen access to an internal floor so controlling it before it gets out of hand?

steampowered

It is not reasonable to expect your EA or your solicitor to do a detailed assessment of whether the property will meet your buyer's mortgage lender's criteria.

The EA and your solicitor won't have done an assessment of whether your property meets fire regulations (or all of the other requirements your buyer's lender will have). That's not their job. That's the buyer's lender's job.

jonnygee2

Hows a timber belcony any more a fire hazard than the timber floorboards of my flat?

Internally, structures are built to be fire resistant between apartments for at least long enough for people to safely leave the building.

The danger demonstrated by Grenfell is that fires can spread on the outside of a building through cladding or balconies, circumventing the internal fire barriers. Higher wind speeds experienced at height can also fan the flames.

 https://www.bbc.co.uk/news/uk-44381387