Letter of offer expired

T

Trustmeh

Registered User
Messages
330
Is this possible? My house build has taken a ridiculous amount of time and is just about ready. The Letter of offer is dated MArch 2004. The wonky solicitors never got together and arranged any stage payments (not sure which side screwed up) and now builder is annoyed. Hes looking for money and the bank wont draw down as they say the letter of offer has expired.

Is this possible? The original person who arranged this left the bank and after that customer service went out the window... is this new person just looking to get a sale under their own name or what?
 
Ya - it is very possible that the Letter of Offer has expired, it is dated March 2004 - 17 months ago. Most Offers will expire after 6 months (some shorter some slightly longer). If you haven't changed jobs - you will proably only have to submit some up to date payslips and maybe bank accounts - depending on your bank.

Although you may have to start again in the process.
To get re-approval shouldn't take nearly as long as getting it in the first place - the builder will just have to wait another few weeks for his cash.

Enjoy the paperwork,

Browser
 
geta valuers report as well, if the house is now ( as a shell) worth €400k and you need €200k to finish it then any bank will look kindly on you because of the amount of equity you (meaning they) already have in the house

go to NIB actually
 
Hi yankinlk

yes, we've been waiting for our apartment to be built for over 18 months now and we have arranged to meet our mortgage broker next week to resubmit some of the information to the mortgage provider. He told us all along that we would need to do that as it was going to take well over 6 months to build our place so we knew about it and we don't have to resubmit all the documentation, just up to date pay slips, bank statements and a couple of other things. We also have to reapply for the life assurance which is a pain...
 
Maybe people whose letters of offer have expired should use it as an opportunity to see if they can do better.

The mortgage market is moving very quickly in this country and there may well be a better offer waiting out there for you.

It is not an inconvenience. If I told you when you're about to buy something in a shop that you could get it for thousands cheaper down the street, you'd hardly say "Well I'm here now and it would just be so much hassle to walk down the road....oh, and, this shop assistant has been so nice that I couldn't possibly offend him by not buying from him!"

Of course, if you would then go ahead and execute the first letter of offer you get.
 
You must log in or register to reply here.
Back
Top