Hello all,
First post here so bear with me. I'm in the midst of trading up. The original plan was to sell my current house and purchase a new house once the sale of my own was agreed. Unfortunately, it turns out that there are several problems with the title of my current house (even though it's a 3b semi in an estate and is less than 18 months old but that's another story) and the result of this is that my house is unsaleable at present.
Therefore, I went to the bank to see if I could get a mortgage without having sold my house. They agreed and so I naturally thought that I could then go ahead and sign for the new house.
My solicitor then told me of problems with the new house as well, the new owner to be wouldn't have a right of way to the house, his solicitor wasn't willing to provide anything to validate the house engineer's credentials and the builder only wants to give an 18 month structural guarantee. My solicitor is telling me that she woul have to 'qualify' the title with the right of way issue and also the lack of verification of the engineer's credentials and that it is very possible that the bank would then not allow me to draw down the mortgage. Her advice is not to buy the house.
What I'm wondering is, what is other people's advice?
Thanks,
/D
First post here so bear with me. I'm in the midst of trading up. The original plan was to sell my current house and purchase a new house once the sale of my own was agreed. Unfortunately, it turns out that there are several problems with the title of my current house (even though it's a 3b semi in an estate and is less than 18 months old but that's another story) and the result of this is that my house is unsaleable at present.
Therefore, I went to the bank to see if I could get a mortgage without having sold my house. They agreed and so I naturally thought that I could then go ahead and sign for the new house.
My solicitor then told me of problems with the new house as well, the new owner to be wouldn't have a right of way to the house, his solicitor wasn't willing to provide anything to validate the house engineer's credentials and the builder only wants to give an 18 month structural guarantee. My solicitor is telling me that she woul have to 'qualify' the title with the right of way issue and also the lack of verification of the engineer's credentials and that it is very possible that the bank would then not allow me to draw down the mortgage. Her advice is not to buy the house.
What I'm wondering is, what is other people's advice?
Thanks,
/D