Wrong address on Loan Offer

A

Anony2022

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Can someone please advise me on this.
We went mortgage approved and our loan offer came through, all was going fine so we signed our contracts with solicitor and paid the 10% etc but now the bank has come back to say that the address they have from the valuation doesnt match the deeds to the house and they will need this rectified in order to send through a new loan offer and go forward.
We had already raised this concern with our solicitor prior to signing and they said that it wouldnt be an issue and that the address could just be amended after the fact.

We are down quite a substantial amount of money and are worried now that it could all fall through over something so small like this.

I have called the company that did the valuation and they said they would re-send it across but they are extremely slack and took 3 weeks to send through their initial valuation in the first place.

Any advice greatly appreicated.
 
Your solicitor is pretty slack too if an incorrect address slipped through. Amending documents after the fact is a no no.
 
It's more of an issue if wrong address is a valid address for someone else. If both addresses are alias for same property, it may be rectified by undertaking from solicitor. For instance, property register record may have slightly different address than the bank but these are essentially same property.
 
bish123 said:
It's more of an issue if wrong address is a valid address for someone else. If both addresses are alias for same property, it may be rectified by undertaking from solicitor. For instance, property register record may have slightly different address than the bank but these are essentially same property.
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The address they have in loan offer doesnt link to any house specifically but when you put it into google the correct house does come up.
On property price register the correct address comes up. I dont even understand where the Valuer got this address from, its the wrong town name.
 
Is the address on the document the official postal address, by any chance? Postal address can include the town where the sorting or delivery office is. Do you know the eircode? Check the eircode https://finder.eircode.ie/#/ which should show the postal address.

Worth a try.
 
You've mentioned 3 addresses, and I'm confused about which one is wrong.
1. Address on loan offer
2. Address on deeds
3. Address on valuation

If its just the valuation, your thread title is wrong, and you simply need the valuer to send an amended valuation to the bank.
This sounds like one of the easiest fixes in a property purchase.

Did you ask your solicitor if there is any possible scenario where you could lose your 50k?
 
RedOnion said:
You've mentioned 3 addresses, and I'm confused about which one is wrong.
1. Address on loan offer
2. Address on deeds
3. Address on valuation

If its just the valuation, your thread title is wrong, and you simply need the valuer to send an amended valuation to the bank.
This sounds like one of the easiest fixes in a property purchase.

Did you ask your solicitor if there is any possible scenario where you could lose your 50k?
Click to expand...
Ok so the valuation report and the loan offer both have the same wrong address. The deeds of the house as the right address. These dont match up and so this is the issue.
Our solicitor is not sure of what worst case scenario is but we would definitely be at a large loss, not sure how much of th at money would be refundable should the banks be even more difficult about this
 
Anony2022 said:
Our solicitor is not sure of what worst case scenario is
Click to expand...
Your solicitor should know whether or not there's a 'subject to mortgage' clause in the contract you signed. If there is, then your money isn't at risk.

If there isn't, this sounds like it should be easy to resolve, but will take a bit of extra time.
 
Just get the bank and valuer to amend the address before drawdown so all match. Job done. No real reason for deal to be at risk over a clerical error.
 
Anony2022 said:
Can someone please advise me on this.
We went mortgage approved and our loan offer came through, all was going fine so we signed our contracts with solicitor and paid the 10% etc but now the bank has come back to say that the address they have from the valuation doesnt match the deeds to the house and they will need this rectified in order to send through a new loan offer and go forward.
We had already raised this concern with our solicitor prior to signing and they said that it wouldnt be an issue and that the address could just be amended after the fact.

We are down quite a substantial amount of money and are worried now that it could all fall through over something so small like this.

I have called the company that did the valuation and they said they would re-send it across but they are extremely slack and took 3 weeks to send through their initial valuation in the first place.

Any advice greatly appreicated.
Click to expand...
How are the things going now? Is it sorted? I have similar problem ,I mean we have not sighned anythig yet. Everything looking ok street, house number,eircode and city.The only things are diffrent for example: once you have Finglas, once you have Poppintree.I know the Finglas is district and Poppintree looks like area nerby.But if you put eircode ,you can find exacly the same house.
 
Beata1979 said:
How are the things going now? Is it sorted? I have similar problem ,I mean we have not sighned anythig yet. Everything looking ok street, house number,eircode and city.The only things are diffrent for example: once you have Finglas, once you have Poppintree.I know the Finglas is district and Poppintree looks like area nerby.But if you put eircode ,you can find exacly the same house.
Click to expand...
We are all sorted now. We had to get the valuer to re-submit the valuation with the correct address and bank re-issued the loan offer. Our solicitor didnt seem to know what was going to happen and it caused us so much unnecessary stress.
Your issue sounds exactly same as ours, who made the error and how far along in the process are you. Hopefully you will get it rectified quickly enough
 
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