Any Advice\Help - failure to complete purchase - Scotland

ThriftyBeanie

nikkiandmidgets wrote: »

maybe I should just be ruthless and ask for written proof and admit no liability?

PS dont do that, tempting though it may be. You won't outfox a lawyer, they are experts at that kind of thing. You'll end up in a lot of mess if you have the lawyer after you instead of working for you.

nikkiandmidgets

ThriftyBeanie wrote: »

PS dont do that, tempting though it may be. You won't outfox a lawyer, they are experts at that kind of thing. You'll end up in a lot of mess if you have the lawyer after you instead of working for you.

I wouldnt honestly want to anyway as I like my solicitor and know this was not intentionally done by her. She is usually very much by the book which is why my financial advisor said to me that my solicitor wouldnt have tied me into the deal.

Anyone know anyone that does self certified mortgages to less than perfect credit history - a few late payments (Forgot to set up direct debit when I moved 8 months ago), and some hassle at start of 2006 when my husband had affair while I was pregnant and stopped the joint bank acct when I was in hospital giving birth to our second daughter and was only on statutory maternity pay and had groceries, nappies etc to buy as well as electric, gas, cc payments and loan payments. I sorted them out 3-4 months later though....

Good idea about seeing if the solicitor knows a broker who may assist but will give my advisor another 48 hours as he knows who he has tried through and has all paperwork in hand.

nikkiandmidgets

Still trying to get a mortgage arranged. Does anyone know somewhere that does self certified? Looks like I cant get a standard mortgage cos my contract duration is too short. My ex husband says he will lend me money so I can put a larger deposit back - I have agreed to go on holiday to Panama with him in future and view it with an open mind and also consider giving marriage another try. My plan if I get a mortgage will be to refurbish house - it is dated, needs totally decorated and about £1000 of work with woodworm treatment and roof but apart from that survey was very good for an old house - just said it needed updated, and sell if I decide to give my marriage another try. After this fiasco I am starting to seriously wonder why the hell I stay in the UK, and what makes Britain so 'Great'!

Am hapy for broker to contact me as mine seems to be not the greatest as he seems to have been caught on the hop by this credit crunch and didnt chase up my mortgage application to get it processed in a timely fashion.

Cheers for any thought\advice...

chappers

nikkiandmidgets wrote: »

- I have agreed to go on holiday to Panama with him in future ...

Are you sure he hasn't arranged some wierd canoeing accident....

herbiesjp

This does sound like a mess sorry to say

The solicitor should not be taking instruction from the adviser/broker.

The broker/adviser should know the criteria of the lender before placing the business with them and so I cannot understand the letter you got confirming July, now not being good enough

Have you paid these guys any fees for their "advice"? If not, you really need to find someone else who can move quickly and save you on the interest charges you have said you wil incur

SouthCoast

I had always thought the the Scottish system for buying/selling properties was much better than the English/Panamanian systems.

beecher

SouthCoast wrote: »

I had always thought the the Scottish system for buying/selling properties was much better than the English/Panamanian systems.

I think it is a better system on the whole - its greatest strength is that house purchases are nailed down very quickly and it is difficult to get out of them once you've verbally committed. It has worked out badly for the OP, but I do feel sorry for the people who thought they'd sold their house to someone in a position to move forward. I'd never buy anywhere without a definite mortgage offer, and wouldn't expect that offer to remain if I changed workplace.

Sorry to be harsh, but the vendors must be pulling their hair out by now.

WildHaggis

Might be stating the obvious, but have you spoken to the sellers of the property? There may be rental options while you sort out the finances, or they might agree to give you more time..

And, explore options of getting a bridging loan, for a six month period, Expensive, but quick. That might give your current adviser time to get a mortgage offer sorted.

nikkiandmidgets

Okay. Mo mortgage advisor got an agreement in principal from UCB and said it was prime, not sub prime. He had to wait for an advisor to get back to him. Was then told no because of a default at an old address. I have checked my credit file and asked CheckMyfile what its for and they say they cannot provide any further info than whats on the file but guess its a mail order company. Its for £392 dated mid 2005 at an old address. I moved in October 2004 and had my daughter Jan 2005 and then second daughter in November of that year. I cant think what its for - how am i supposed to guess\find out?! Does it make any different to my file if i can find out about what its for an pay it off?

My solicitor is asking me if I am going to continue with purchase, and says if not, do I have permission to let seller know. from sound of things its going to cost me an absolute fortune, especially with market falling - if i am forced to declare myself bankrupt - and have to move out of my current private rental into a b&b with me and the two kids (Means I will have to give up work as currently my mum is full time childcare and my lift stays in same area cos I dont drive and stay 40 miles from the city with no decent public transport and probably wont be able to use either of them - do these type of debts have a time limit, or are closed or whatever they do when they recover part of it due to bankruptcy. Debts I am thinking of are Credit Cards, 18 month contracts for mobile phone, broadband\BT, an Egg Loan, and the balance of my lease - I was going to find a suitable tenant to take over remainder of lease when I purchased. Renting house I was going to buy is not an option as needs upgraded as has single glazing, old Baxi back boiler central heating, requires a kitchen fitted and hasnt had any work done to it apart from exterior weather and water stuff in last 20-30 years.

Any thoughts\advice\info greatly appreciated. I have asked advisor if he knows of any companies for mortgage - either higher interest rate or larger deposit but says cos of length of contract and subprime status it will be nearly impossible. If this does all happen then i guess I get husband to rent me a pplace in Panama and I see how we get on and if we can slowly rebuild marriage as alternative of declaring myself bankrupt and staying in a B&B until i get emergency housing doesnt appeal as that was option before i took this rental on, but guess if I didnt continue working after the initial 2 month contract was up I wouldnt have added stress of worrying how to pay b&b and storage as wouldnt have any stuff to store as would have been sold off under bankruptcy,a nd would get b&b paid as wouldnt have an income. Just glad I have kids or would have topped myself by now way I feel.

nikki

nikkiandmidgets

As per UK007Bulldog am copying this into original post but not sure if people will read as got quicker response to new post than my update to this one earlier today....

Does anyone know a company that will grant a mortgage to someone with adverse credit, - some late payments to companies, and a default on a mail order debt in 2005 for £392? I plan to buy and sell quickly so not so worried about interest rates, just tie in and what would deposit be and wage multiple. My financial advisor had drawn a blank and there are so many applications he did - some to see if there were any better deals going while he had got agreement in principal from Birmingham Midshire, and others because it looked like we would get approved based on criteria. I did one too with Yorkshire last year while in my old job but they knocked me back once they saw a copy of my last contract because it said temporary weekly contract or somehting similar.

Any scenario in which this would work\limit my losses would be great.
Am desperate as would rather loose a smaller amount than everything I have by failing to complete.
Thanks for any advice etc