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Our buyer is getting a 100% C&G Mortgage - will they grant it?
TBeckett100
Posts: 4,732 Forumite
Just found out our chain has nil deposit as the bottom of the chain has a 100% C&G mortgage offer. Of course, if C&G refuse the mortgage over the next week, will be be stuffed and probbaly have to sue for our losses.
Whats the chances of the C&G offer being rescinded
Whats the chances of the C&G offer being rescinded
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if the offer has been produced then you should be OK. You will need to know when their mortgage offer is due to expire as I am not sure whether or not they would extend it. I would like to hope they would but you just don't know.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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You can sue for the collapse of a chain?"I'm not from around here, I have my own customs"
For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!0 -
you can if exchange occurs then the mortgage doesnt happen.0
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Hopefully you should be ok their solicitor shouldn't have advised them to exchange without a n agreed mortgage but as homer says how long ago was their mortgage deall approved, in the current climate nothing would surprise me.0
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That was Cannon Fodder wasn't it? If so... agreed!0
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Indeed it was. Great game.
Some people don't like the sig as they think it's a comment from me!"I'm not from around here, I have my own customs"
For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!0 -
TBeckett100 wrote: »Just found out our chain has nil deposit as the bottom of the chain has a 100% C&G mortgage offer. Of course, if C&G refuse the mortgage over the next week, will be be stuffed and probbaly have to sue for our losses.
Whats the chances of the C&G offer being rescinded
Who are you going to sue and on what grounds? Where do you live?0
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