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Vendor Forced Me To Exchange - Help

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Comments

  • Georgedunn
    Georgedunn Posts: 27 Forumite
    k3lvc wrote: »
    21yo
    £550k property

    Genuine interest - what job/income level and what sort of deposit ?

    Being brutally honest maintaining your income for next few months to obtain the mortgage is probably the least of your pressures

    I am a finance broker. Basic is under £20k but commission in a year in excess of £150k. House was £550k with a 5% deposit, standard 3% stamp duty.

    As an average it will stay above however I am due to go on holiday and that could impact sales. Alternatively I can reduce my outgoings on HP etc.
  • Georgedunn
    Georgedunn Posts: 27 Forumite
    lincroft1710 wrote: »
    You should take some responsibility for your own actions. Whatever the cost of a property, the purchaser has to maintain their income level to afford the mortgage repayments. If you thought maintaining your income was too hard or not possible then you should have bought somewhere cheaper or held off buying until you had a larger deposit, thus facilitating a smaller mortgage.

    No-one to complain to.

    Of course I am taking responsibility for my actions, I am not looking to pull out. Feel as one of the biggest house builders dealing with first time buyers they should treat consumers more fairly.

    The delays are due to access reasons and should have been explained before I exchanged.
  • lincroft1710
    lincroft1710 Posts: 17,618 Forumite
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    Georgedunn wrote: »
    Feel as one of the biggest house builders dealing with first time buyers they should treat consumers more fairly.

    The delays are due to access reasons and should have been explained before I exchanged.

    Housebuilders treat all buyers the same -badly
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • theartfullodger
    theartfullodger Posts: 14,584 Forumite
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    This is a wind-up / troll, isn't it? Surely nobody is that......
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
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    Georgedunn wrote: »
    I am a finance broker..... commission in a year in excess of £150k..

    And the title of the thread is "Vendor Forced Me To Exchange - Help"

    Am I the only person whose main concern is why our society allows completely clueless people to earn insane amounts simply by pushing money back and forth across tables?
  • Georgedunn
    Georgedunn Posts: 27 Forumite
    Am I the only person whose main concern is why our society allows completely clueless people to earn insane amounts simply by pushing money back and forth across tables?

    Really off topic but on a commission based job you are paid a percentages of sales, so society doesn!!!8217;t justify what you are paid, you do. Supply and demand if everyone could do it you wouldn!!!8217;t get paid the same.
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
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    Georgedunn wrote: »
    Really off topic but on a commission based job you are paid a percentages of sales, so society doesn!!!8217;t justify what you are paid, you do. Supply and demand if everyone could do it you wouldn!!!8217;t get paid the same.

    No, society allows it by permitting people who don't create anything actually useful to charge for their services. All you do is put people in touch with other people. Society could choose to eliminate your job entirely, simply by everyone agreeing not to bother with it, and everything would still function perfectly without a disproportionate amount of the worlds' resources being given to you.
  • Georgedunn
    Georgedunn Posts: 27 Forumite
    o, society allows it by permitting people who don't create anything actually useful to charge for their services. All you do is put people in touch with other people. Society could choose to eliminate your job entirely, simply by everyone agreeing not to bother with it, and everything would still function perfectly without a disproportionate amount of the worlds' resources being given to you.

    I will agree to disagree with you. The industry i!!!8217;m in (Asset Finance) injected £3.3m into the British economy in March alone.

    With your logic we could get rid of estate agents as they don!!!8217;t any value either, however the market wouldn!!!8217;t function to the same level.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Georgedunn wrote: »
    The mortgage advisor did make the point that it was a fairly borderline approval, due to my high outgoings.

    With an annual income of £150k. Appears that there was, still is, ample scope for you to make some financial adjustments to your lifestyle. Certainly enough to raise further funds to reduce the amount you need to borrow.

    Not going to repeat what others have written already. Other than to say. Chalk this experience as a life lesson. Be less hasty in future. Before committing to something, give yoursef time to think matters through and reflect. Likewise don't be so hasty to blame others when they've done nothing wrong. The hole you've dug is of your own making.
  • borkid
    borkid Posts: 2,475 Forumite
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    lincroft1710 wrote: »
    Housebuilders treat all buyers the same -badly
    Actually the house builder we bought from treated us very well. We bought off plan , they didn't start building our house until we exchanged but between completion and our house being built they lent us a house rent free and then paid the removal costs for one move also after completion the payments were staggered so it was only when we moved in did we actually pay the final installment. It was a relatively small house builder though and we were cash buyers.
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