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messageExchange of contractsangry smiley
Posted by: undlou (IP Logged)
Date: Friday, 18-Nov-2011, 12:34:26

we have gone for the firstbuy scheme which lends us 20% of the price and we put in 5% and use this as a 25% deposit. at this point everything was going well. within 3 weeks we put our reservation fee down, got our mortgage accepted, our application with moat was accepted and another couple of weeks all the insurance went through as well as the solicitors contract and fees. its been over a month since our solicitors have taken our deposit, and received our contracts. they still have not exchanged contracts. our solicitors have been chasing persimmons solicitors for a month but they keep avoiding them.
You can only apply for a moat loan within 6 months before the completion date. also this firstbuy scheme with moat expires in April. they won't lend money to anyone whos home will be completed after April.
As persimmon homes are saying they wont complete their houses until june next year (which would be 8 months from date of application) moat is basically saying either move completion date to April or we don't get our loan.

we are stuck because exchange of contracts can only be dealt with the solicitors, so when we call persimmons ourself they wont speak to us. our solicitors have been trying to get an answer since mid October.

so i dont know what to do. we need that loan to be approved otherwise we can't afford it. but persimmons seem like they are trying their hardest to make it hard for us.

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