Hi there, it had been drawn-down, but I got better news today, hopefully it will be all sorted soonIt sounds like you had a lucky escape.
I don’t think your mortgage will have been drawn down, so you shouldn’t have to make payments in it.
Look for another property.
Thank you for the information, it gave me some hope today!Can EBS not just supply a new letter? This kind of thing is pretty standard for mortgage providers.
They haven't gone bust, they were just taken over by AIB in 2011 and still exist as a standalone brand.
Agree with above, if it is really paid off there should be no difficulty getting a letter from EBS, they still exist.
But I do think your new mortgage will have been drawn down as the solicitor would have to have had the funds ready on the closing day. Solicitor needs to return funds to your bank pending sorting this or you will end up paying the monthly repayments.
This sounds like a very frustrating situation. Housing transactions can be long drawn out process which can get emotions running high. Sellers are probably feeling the same as yourself. Now is a time for level heads and calm discussions. Don't lose sight of the fact your solicitor is on your side. If the vendor has not signed the contract I doubt the mortgage has been drawn down but no harm checking with your solicitor. There is probably a bit of brinkmanship going on here. See what their solicitor comes back with. If no joy contact the estate agent and explain the situation. It might be the vendors solicitor doesn't want the hastle of extra work. The sellers may be unaware of all this. The estate agent can be a useful go-between in this situation. They want the sale so at this stage are on your side and can help explain the issue to the seller.
Your solicitors request is reasonable. No mortgage provider will want to be second in the pecking order in terms of claim on the property. The onus is on the sellers to satisfy your solicitor (but ultimately your mortgage provider) that there are no issues. If they want to sell they will have to prove the asset is unencumbered.
Don't write off the house yet but make sure you're not paying for something that isn't yours.
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