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Lost house we fell in love with-anything we can do?

(8 Posts)
Dillydollydaydream Fri 02-Sep-11 13:01:45

Bit of a long story.
We've sold our house. Hadn't looked at any houses before this as we werent sure how long the process would take in this Market.
It actually sold very Quickly so off we went to sort our mortgage.
We got our mortgage promise, credit checked etc with a print out of the certificate. All well and good so far!

Went to view houses. Fell in love with one and put an offer in which was accepted.

However, now we've gone back to organise the survey etc for the house it turns out the person who processed our application 'forgot' to include us having dependants despite them being in the room! angry

So, we are now 25k short for the house we fell in love with sad
Now everything we look at will be compared the this house sad

To make things worse our buyer is now really putting the pressure on to find another house.
Starting to feel panicked but don't want to buy a house and regret it later!

Is there anything at all we can do with regards to the mortgage application being mucked up?
The annoying thing is the repayments on new mortgage is actually the same as what we'd paid for the past 5 years because the bulk of the mortgage is out of the fixed term and only 2.5%!

Help sad

nikos Fri 02-Sep-11 13:37:00

Have you tried going back to vendor and asking for 25k off?

Dillydollydaydream Fri 02-Sep-11 13:40:16

Yes. They laughed at us sad
Or pretty much. Theyre losing money anyway because they bought when prices were much higher.

Thanks for replying though

nikos Fri 02-Sep-11 16:24:57

You could try and get a bank loan for the remaining 25k and pay it off as quick as poss. Do you have a mortgage advisor? I would recommend seeing one quickly and seeing if there is anything they can do.
We have not sold yet but if it is any consolation we have seen 3 houses we loved and lost each of them. But made me realise there is almost always another house to love.

MatLeaveForever Fri 02-Sep-11 17:55:18

I agree, definitely see a mortgage adviser as you may be able to borrow more money with another lender. Good luck.

Dillydollydaydream Fri 02-Sep-11 19:05:17

We haven't seen a mortgage advisor. Just went to the the people our mortgage is currently with originally to see what we've got left and got the mortgage promise whle we were there.

Bit concerned all the credit checking if we look too much will be a bad Thing?

MatLeaveForever Fri 02-Sep-11 19:09:34

You won't get credit checked just for looking at other deals, only if you apply fully. I used London & Country who are a free mortgage broker and they give lots of advice as should be able to recommend something for you. Can't promise you'll get the money you're after but lenders all have different criteria and if you're already paying a similar amount each month you'd think someone would lend you the money based on affordability. Fingers crossed!

Dillydollydaydream Fri 02-Sep-11 19:30:03

Thanks. Will definitely look into that. We are viewing other properties but nothing is matching up to this other house now!
I'm not giving up just yet! Even if it's not the same amount we were originally told we could borrow, I have some savings that I could cash in to put towards it.

I know it's just a house though and I'm sure we'll be happy wherever we end up - it was just so perfect!

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