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issues referred to my lender... could this be an issue?

5 replies

chosenone · 29/09/2015 21:18

Anyone with any wise words?
The house we are buying has had to get several legalities sorted. Indemnity policies due to absent landlord of leasehold, appeasement policy due to lack of boundaries being clear and finally...official paperwork due to erecting a porch near a public sewer. Solicitor seems to think once everythings covered we'll be ok. Anyone have experience of this?

OP posts:
gingeroots · 30/09/2015 12:18

bump - appeasement policy ? Sounds interesting and I'm curious .

Sunnyshores · 30/09/2015 15:37

No experience sorry, but what I would say is that all lenders have different views on risk, or non-standard purchases - so if they do refuse there are other lenders to try (and Id suggest a discount to the purchase price as the property is problematic!)

Imperialleather2 · 30/09/2015 15:45

Is the offocial paper work a build over agreememt in which case I see no issue.

2 indemnities isn't ideal but not unheard of.

Asking for a price,reduction could just cause more issue and delays

Sunnyshores · 30/09/2015 15:54

I meant - if your mortgage is refused so you have to find another one, at that point you could ask for a price reduction due to its difficulties (as there will be delays anyway).

chosenone · 01/10/2015 06:57

Yes its a build over agreement they are getting.
The appeasement is basically because there is no official boundaries shown on the deeds for some reason! Plus it is freehold and there seems to be no landlord alive /around anymore. The lease is 999 years from 1896, but noone has collected ground rent in at least the 35 years they've been there.
I will be desperate if thd mortgage is refused at this stage !

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