My buyer has had their mortgage withdrawn

Milo69

I'm selling my property and my partner is selling his and we are buying a property together.My partners sale has fallen through three times and he sold for the fourth time and we are just about to exchange contracts and we have been informed that his buyers had their mortgage offer withdrawn from Santander because they obtained the mortgage through a third party which isn't FSA accredited but the buyer said she didn't use a third party and went direct to the bank to apply.She has but a complaint in and has to wait...so we are all in limbo...what to do next

lincroft1710

Well, your partner either waits or puts his property back on the market

propertyrental

lincroft1710 said:

Well, your partner either waits or puts his property back on the market

Excellent advice.

theartfullodger

Well they ain;t your buyer, currently, then. 

Grizebeck

propertyrental said:

lincroft1710 said:

Well, your partner either waits or puts his property back on the market

Excellent advice.

Common sense 

eddddy

Milo69 said:

...we have been informed that his buyers had their mortgage offer withdrawn from Santander because they obtained the mortgage through a third party which isn't FSA accredited but the buyer said she didn't use a third party and went direct to the bank to apply. She has but a complaint in and has to wait...so we are all in limbo...what to do next

I guess it's also possible that the buyers have messed up - but rather than admitting it, they say the mortgage lender has made a mistake.

But the impact on your partner's sale is probably the same either way.

lookstraightahead

Put a complaint in about what? 

NameUnavailable

Is the reason for all the aborted sales the same?

anselld

Selling two properties and buying one simultaneously is likely to be virtually impossible.  Too many dependencies.  You should consider completing the one remaining sale and moving in together to make the final sale and purchase simultaneously.  Or sell both and move into rented whilst you look for a purchase.

Bigphil1474

Agree with above. We're about to sell our house, and we have a third share of a currently empty house which will be sold in the next few months (inherited). We're going ahead on the basis that we won't sell the second house in time to fund a new purchase. If it does, we won't need a mortgage, if it doesn't we'll overpay the mortgage as much as possible. The potential chains for two houses are too risky for us.