My Home Move/Premier Property - escalating a case

Irishpearce26

Galileo_Figaro said:

ele_91 said:

This exact issue resulted in two outcomes for us. Firstly, was it advertised as the loft being a bedroom? Eg 3 beds plus a ‘habitable room’ or 4 beds? If the latter the lender will most likely revise down the value as the room cannot be classed as a bedroom. This may or may not be a problem for you depending on the size of your deposit. We could absorb this as we had > 60% LTV. 

Secondly they might require a structural survey which is expensive and invasive. They might need to inspect joists etc. Our vendor would not allow this to take place so we had to pull out. We noticed the next buyers withdrew too and we were the fourth buyers in the first place. This was with Barclays so a similar mainstream lender. 

Hopefully Halifax do not have a problem with your property but be prepared for this to cause a delay which by the way is really the vendor’s fault for not having the correct paperwork.

Thanks for your comments. It was advertised as a 4 bed. We can handle them reducing the value by just over £30,000 without it affecting our offer, so I'm hoping they will be happy to do that (and quickly!). The structural survey would be a problem though - pretty sure the sellers would ditch us at that point. Juts hoping for a positive answer from Halifax early next week - fingers crossed. 

A £30k reduction would certainly need a new offer from the lender!