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Getting a mortgage in the future (lost out on house)

1 reply

Goldenglass · 03/04/2020 11:08

I feel so daft complaining about this, because I am so appreciative of the fact that my family and I are all healthy at the moment. I just need somewhere to let it out, because I am so, so gutted.

We were finally in a position to buy our first house, we have managed to scrimp our way to saving a 20k deposit (10%).
Saw a house, it was perfect. Put our offer in, had a phone call saying it was accepted but then because of the current situation it has all come undone.

Our mortgage offer from the bank expires in three weeks, and now there are talks about the housing market falling to pieces. I am terrified that this means we will never get anywhere with a 20k deposit if banks tighten their lending criteria.

I guess I just want to know other people's thoughts on this.

OP posts:
2ndAugust · 03/04/2020 11:27

Offers are being extended, automatically in some cases. Do you have a broker? What bank was it with? If the vendor is still happy to continue it will not affect you are they are honouring anything in the pipeline.

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