Can we reduce risk involved in signing contract?

[ANNIEONION]

We are about to close sale of house. We are with UB so had intended to transfer tracker to new property. A number of issues emerged last week on vendor's side. 1) mapping issue with title 2) a charge by a third party on the property 3) some other but more minor outstanding issues. These are the main issues. We believe UB unlikley to let us draw down funds if these issues (1+2) unresolved. Developer has said sign today or they will withdraw.
1) If we proceed on these terms and UB do not agree to grant our mortgage we will have sold our house and lost the tracker as we will not be able to transfer it to the new property.
2) Putting cost of loss of tracker aside we have two small childern and cannot move out of this house and have no house to move to.
3) getting this far has cost us a lot in solicitors fees - we really want the house but not at any cost.

We have not delayed developer in any way. Everything is in order on our side. We would sign today if the above two issues substantially addressed.

Is there anything we can do ?

 

[Jim2007]

Well the first thing to do is talk to UB and see what their position is. I assume they have already agreed in principle to transfer the mortgage etc...

As for the developer, I seriously doubt that demand is so high that he has a queue of people lining up to by the house... if there is a third party charge on the property, I can't see him disposing of it any time soon. What does your solicitor say?

 

[Bronte]

Ignore the developer and listen to your solicitor and your bank.