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Builders depoist - New builds / mortgages
Comments
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Yep, Halifax will be your best bet I rekon!
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I said it once and I will say it again! Ban exchange before the things are built!0
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The "independent" legal advice is not really that independent when the client is persuaded to use the builders solicitors is it.
They'll certainly know which side their breads buttered and will exchange as soon as possible.0 -
Right, I've just had the valuation report back this morning.
The agreed purchase price was £165000 for the new build flat and it has been valued at £145000 with the lender being prepared to offer 90% of the lower figure. Ouch.
This couple are right in it now, having exchanged, they are contracted to buy, so they either have to find the thick end of £35,000 to complete or pull out and hope the builders don't cut up too rough. Not a position I would like to be in.0 -
lender being prepared to offer 90% of the lower figure
You should be congratulated on finding a lender prepared to offer 90% LTV on a new build flat!0 -
Prob Halifax or an app from a while back. Its a shame really, I think the contract should be subject to val but builders have this tied up for years!0
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