18-02-2015, 06:55 PM
1
Bit of News
I can't be bothered to try to find my original post so here's the latest on our youngest son and family trying to get on the property ladder - for those interested!They had a bit of a setback because the Aunt that said she'd give them the deposit changed her mind last week throwing everything into turmoil!
By then they'd already entered into some agreements so they were not in a good place for a while but now it's all on again but all the guff you see in the news is - er - guff because they've got to wait until the end of MARCH for some reason before they find out if the bank will give them a mortgage!
I don't know all the details but they could still lose a lot of money they cannot afford to lose if the bank says no now. stevmk2
18-02-2015, 07:23 PM
2
Re: Bit of News
Hope everything goes OK for them soon Steve. The reason for thewait I think is if you want a mortgage now the rules have changed.
They now take in your wage into consideration as usual but also
the other bills you have to make. Also IF you would be able to afford
the mortgage if the interest rate went up from the 5% it is at the moment.
If they consider you would not be able to pay the rise in mortgage interest
they wont give you it.
My son asked about it last year.
19-02-2015, 01:58 PM
9
Re: Bit of News
Originally Posted by Patsy
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I don't understand why they would lose money Steve - but I do hope all goes well for them .......
The previous buyers pulled out so the developer wanted some form of deposit this time to take it off the market I presume - it had been discounted for a quick sale I'm told. stevmk2
19-02-2015, 02:11 PM
10
Re: Bit of News
Originally Posted by stevmk2
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Apparently they had to pay some kind of deposit to secure this particular house.The previous buyers pulled out so the developer wanted some form of deposit this time to take it off the market I presume - it had been discounted for a quick sale I'm told. stevmk2
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