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Really need some advice!
c9roline
Posts: 22 Forumite
Hi all, I am so stressed with this house move. The sale of our house is almost done as in ready for exchange however the purchase of a new build has been nothing but problems! The title plan had to be amended and in addition, a garage has been built to the front of the property as an ‘add on’ without planning permission which we were fobbed off as not being required only for our surveyor to confirm it is.
the developer has submitted a non material amendment to his original planning permission which is due to be approved by 31 dec. the developer has said if we want to complete we can keep 20k as a retention which we were ok with but our solicitor said this is unlikely to be approved by nationwide.
Now we are worried a non material amendment is not sufficient and a full planning will be required and that will take us past the stamp duty cut off.
there are so many unknowns here..
If a full planning permission is required..
Can anyone advise on how a retention may work in this situation? Our solicitor seems to think it’s too complicated but it may be our only option. Who would decide on a retention figure? The seller or nationwide? Is it even possible and what would happen if the planning permission is not approved?
thanks for any help!
the developer has submitted a non material amendment to his original planning permission which is due to be approved by 31 dec. the developer has said if we want to complete we can keep 20k as a retention which we were ok with but our solicitor said this is unlikely to be approved by nationwide.
Now we are worried a non material amendment is not sufficient and a full planning will be required and that will take us past the stamp duty cut off.
there are so many unknowns here..
If a full planning permission is required..
Can anyone advise on how a retention may work in this situation? Our solicitor seems to think it’s too complicated but it may be our only option. Who would decide on a retention figure? The seller or nationwide? Is it even possible and what would happen if the planning permission is not approved?
thanks for any help!
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Comments
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What would be the point of a retention? Would you really want to buy the house if you knew you would have to demolish the garage?0
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The thing is, if we miss the stamp duty, we are out of pocket in a big way so in a worst case situation we would buy without the garage.anselld said:What would be the point of a retention? Would you really want to buy the house if you knew you would have to demolish the garage?
We honestly would expect the garage to be approved but it’s the risk of it going past March.0 -
Why the new thread on the same issue?
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The original post was about the garage not on plot. That’s been resolved. This is a new question about a mortgage retention and how it might work.greatcrested said:Why the new thread on the same issue?I would appreciate any advice from the forum specific to the retention question. Thanks0 -
Retentions are always a messy "solution". Has anybody been clear about exactly on what basis it would be released?
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