What can be causing the delay

Joanne1967

MY husband and I are first time buyers and managed to negotiate an excellent lifetime tracker through C&G. The house deal fell through and we negotiated a purchase on a far better house, but £15k more than the first house. This house has been reduced in asking price by 18%. Anyway C&G have carried out the valuation and all is okay. Problem is the deal seems to be sticking. We phoned our broker to find out what is going on and he can see the mortgage is approved but they are not making an offer.

The current lifetime trackers on offer by C&G are 1% above what we reserved.

I would imagine that the mortgage offer on the fisrt house is good for an alternative mortgageable house (similar to if you sold and repurchased) but that perhaps the additioanl borrowing might be subject to an offer at current rates. Am I correct or would C&G be entitled to withdraw the previous offer and make an offer based on current tracker rates. I might add we did pay a reservation fee to secure the earlier rate.

Has anyone been in a similar situation?

_Andy_

C&G's timescales are absolutely appalling at the moment as they let themselves get snowed under with business, so you're not alone if that's any consolation!

Your broker should be getting the BDM involved to chase this up.