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  • FIRST POST
    • Kpossible929
    • By Kpossible929 10th Jan 18, 8:12 PM
    • 55Posts
    • 18Thanks
    Kpossible929
    Proposed completion, no mortgage offer?
    • #1
    • 10th Jan 18, 8:12 PM
    Proposed completion, no mortgage offer? 10th Jan 18 at 8:12 PM
    Hi, we’re in the process of buying our first home and we’re told yesterday that we needed to send the money for the deposit and fees over as we are ready to exchange and that the seller has proposed completion for the 19th January. We sent the money over this morning.

    This afternoon we’ve received a copy of an email sent to our solicitor from our sellers solicitor saying
    “Unfortunately our related purchase has advised us that they have no mortgage offer on their related transaction. They have apologised as they previously informed me that their client wanted ASAP. Our client is still attending to sign this afternoon.”

    What does this even mean?! How can they only just realise now that they don’t have a mortgage offer? And how long is this likely to take to fix?
Page 1
    • zx81
    • By zx81 10th Jan 18, 8:19 PM
    • 17,257 Posts
    • 18,349 Thanks
    zx81
    • #2
    • 10th Jan 18, 8:19 PM
    • #2
    • 10th Jan 18, 8:19 PM
    How can they only just realise now that they don’t have a mortgage offer?
    Originally posted by Kpossible929
    They haven't.

    You've only just found out now.
    • G_M
    • By G_M 10th Jan 18, 8:20 PM
    • 44,415 Posts
    • 52,719 Thanks
    G_M
    • #3
    • 10th Jan 18, 8:20 PM
    • #3
    • 10th Jan 18, 8:20 PM
    It means your Exchange is on hold for now.

    It could be fixed in aday or two. Or a month. Or never.

    Nothing you can do (unless you decide to cut and run).
    • Kpossible929
    • By Kpossible929 10th Jan 18, 8:35 PM
    • 55 Posts
    • 18 Thanks
    Kpossible929
    • #4
    • 10th Jan 18, 8:35 PM
    • #4
    • 10th Jan 18, 8:35 PM
    So does the fact that our sellers are still going to sign mean that they are still wanting to exchange?
    • SalsaDanca
    • By SalsaDanca 10th Jan 18, 9:05 PM
    • 414 Posts
    • 632 Thanks
    SalsaDanca
    • #5
    • 10th Jan 18, 9:05 PM
    • #5
    • 10th Jan 18, 9:05 PM
    They can't exchange contracts until they have their mortgage offer. They can sign the contract, but the solicitor will just keep it on file until everything else is in place and all parties agree to exchange.
    • CommitedToChange
    • By CommitedToChange 10th Jan 18, 9:09 PM
    • 1,289 Posts
    • 4,022 Thanks
    CommitedToChange
    • #6
    • 10th Jan 18, 9:09 PM
    • #6
    • 10th Jan 18, 9:09 PM
    That actually reads to me like someone higher up the chain doesn't have a mortgage offer.

    So their vendor can't proceed - not your vendors
    Attempting to buy a house
    • Kpossible929
    • By Kpossible929 10th Jan 18, 9:10 PM
    • 55 Posts
    • 18 Thanks
    Kpossible929
    • #7
    • 10th Jan 18, 9:10 PM
    • #7
    • 10th Jan 18, 9:10 PM
    Yes, that!!!8217;s how I read it as well, that the problem was with either the people our sellers are buying from or the ones above them, not actually our sellers?
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