Inheritance/Mortgage question

[Theunwritten]

Having inherited a mortgage free property & some cash, we put the house on the market & have accepted an offer from FTB (probable all granted) all going well with the sale.
We’re currently in rented accommodation but have had an offer accepted on our dream home, we will need a mortgage of aprox £140k on top of the 300k we will receive from the sale of the house.
Our bank have told us we can’t apply for a mortgage with them until the sale of the inherited property completes and the money is in our bank. Is this correct? Surely it’s no different from selling a house we currently lived in and moving to another property, you don’t have to complete on one before applying for a mortgage on another?!

Will they give you an AIP? That's all you need to get cracking really

Yes they gave us that for over £100k more than what we need but when it came to wanting to apply they said we need the cash in our account

My mortgage lender didn't require that for AIP... on my head beit if the sale of inherited property hadn't completed prior to my mortgage being called down ... I would have just lost the property I'd offered on....
But these are strange times indeed 🤷‍♀️

What lender is it? I wonder if its in case there are other debts that need paying from the estate that would mean less of a deposit for you.

Oh god banks are being so twatty at the moment. Have you tried another lender?

Find yourself a good broker, a good one will probably charge a small sum (ours charges £495) but they are worth their weight in gold when it comes to things like this.