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House purchase fallen through on completion day...
Comments
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I'm defo not willing to find a new lender. I'm extremely lucky exchanged hadnt happened but then again furious that this wasnt picked up on initially and it could have saved me time and money!GDB2222 said:
Do NOT try hard to find a new lender. If mainstream lenders won’t lend, you will have enormous trouble selling the property later. It may be a cash buyer only property, sold at a big discount, and you don’t want to be paying full price.Tsj90s said:
My solicitor said in the email its very difficult to find a lender that would lend in this position and it's very difficult to secure funds where this type of rentcharge is in place. I just wish this was noticed sooner😪Deleted_User said:You just celebrate at the fact that exchange and completion were on the same day. Otherwise you'd be paying everyone else a LOT of money.
See what happens with this property. If no one will lend on it (though I'm not sure why you would refuse to find out if anyone would), then you've had a lucky escape and find a new property.
Lucky escape you have had, although the timing could have been better. I hope you are celebrating?1 -
You need to ask your conveyancer about this. They may well have slipped up.Tsj90s said:
I'm defo not willing to find a new lender. I'm extremely lucky exchanged hadnt happened but then again furious that this wasnt picked up on initially and it could have saved me time and money!GDB2222 said:
Do NOT try hard to find a new lender. If mainstream lenders won’t lend, you will have enormous trouble selling the property later. It may be a cash buyer only property, sold at a big discount, and you don’t want to be paying full price.Tsj90s said:
My solicitor said in the email its very difficult to find a lender that would lend in this position and it's very difficult to secure funds where this type of rentcharge is in place. I just wish this was noticed sooner😪Deleted_User said:You just celebrate at the fact that exchange and completion were on the same day. Otherwise you'd be paying everyone else a LOT of money.
See what happens with this property. If no one will lend on it (though I'm not sure why you would refuse to find out if anyone would), then you've had a lucky escape and find a new property.
Lucky escape you have had, although the timing could have been better. I hope you are celebrating?No reliance should be placed on the above! Absolutely none, do you hear?1
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