Hi all,
heres my problem.
We are FTB's, the cheque was issued to my solicitor last week pending closing of our purchase.
the vendors havent furnished us with one item required for closing, they have failed to meet the agreed closing date. this has now been pushed back by 1 and 1/2 weeks.
we will now have to pay 1 and 1/2 weeks of interest extra but dont yet own the house.
will a lender back date the interest payments to commence only from the new closing date if i request it (EBS)? Solicitor has assured me that they have not yet processed the cheque but I then found out that EBS charge interest from date of issue of cheque and not from date of processing of cheque.
As you can appreciate, every cent counts for house buying and in this case it could ammount to a tidy sum on top of the initial mortgage repayment.
thanks for all your help guys.
heres my problem.
We are FTB's, the cheque was issued to my solicitor last week pending closing of our purchase.
the vendors havent furnished us with one item required for closing, they have failed to meet the agreed closing date. this has now been pushed back by 1 and 1/2 weeks.
we will now have to pay 1 and 1/2 weeks of interest extra but dont yet own the house.
will a lender back date the interest payments to commence only from the new closing date if i request it (EBS)? Solicitor has assured me that they have not yet processed the cheque but I then found out that EBS charge interest from date of issue of cheque and not from date of processing of cheque.
As you can appreciate, every cent counts for house buying and in this case it could ammount to a tidy sum on top of the initial mortgage repayment.
thanks for all your help guys.