Catastrophic Missive Fees

poppysarah

Let's guess... was your solicitor chosen by the developer and an integral part of the deal?

Kez100

Per earlier thread, solicitor was a mate of a relative.

I was also 26 when we moved home. You just know you can't buy until you sell...where else is the mega thousands going to come from? It's just common sense.

You do need to face up to your error, and more people will have sympathy.

PasturesNew

Do you have a rightmove link to your flat?
We can let you know what we think of it, its presentation, pricing, competition.

To help you see what price is most likely achievable?

I think only 2/5 properties are selling at the moment.

As barnaby-bear said: any property will sell in any market if priced correctly.

It's just a question of finding the price of yours before it all bites your bum

Conrad

Siowensen, the mortgage adviser sounds to be intellectually thin. I was writing posts on forums about this comming credit crunch and housepricecrash 2 years ago. Does the MA not have any understanding of economics?

When I have a client that cant be sure they will sell and buy simultaneously I recommend a specific course of action to ensure your sceanrio is avoided.

There are lenders that can consider a new mortgage without any specific clauses around whether the existing mortgage is cleared simultaneously.

3under3

OP, you have to decide if you want this new house or not? If I was in your shoes I'd work out the cost of each of your options and then decide from there based on making the best out of a bad job:

1. Cost of selling the flat at a discount and repercussions on the next mortgage or
2. Cost of pulling out of the deal altogether or
3. Cost of a bridging loan etc until first flat is sold.
4. Cost of letting the original flat and repercussions on the next mortgage.

MrDT

PasturesNew wrote: »

As barnaby-bear said: any property will sell in any market if priced correctly.

Very true. The OP also states that he can definitely afford the new house if his flat sells.

His 'definite' idea of what the flat is worth kinda sets off alarm bells here...

PS - Blaming 'the bar steward government' because he's too lazy/dense to read the 'bla bla bla' small print on a 200k contract is incredible! I don't know if I should laugh my !!!! off or cry! :rolleyes:

siowenson

I know the responsibility ultimately falls on me and I accept that.
I never started this thread to point a finger at anyone, it was started to find some advice regarding my situation.

wymondham

siowenson wrote: »

I know the responsibility ultimately falls on me and I accept that.
I never started this thread to point a finger at anyone, it was started to find some advice regarding my situation.

probably best to chat to your solicitor to get your options on possible next steps....

barnaby-bear

wymondham wrote: »

probably best to chat to your solicitor to get your options on possible next steps....

or another solicitor since they don't seem to trust this one... the solicitor sounds like the only person who should have been looking out for their interests and may have been less than diligent so another solicitor may be the way to go

wymondham

barnaby-bear wrote: »

or another solicitor since they don't seem to trust this one... the solicitor sounds like the only person who should have been looking out for their interests and may have been less than diligent so another solicitor may be the way to go

True, but what about asking this solicitor some awkward questions first, mainly why it was not flagged ..... maybe if they feel partially responsible they may offer more assistance (late in the day I know!). Never a good idea to use friends etc for this type of thing by the way!!