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How to long for lender to decide if house is mortgageable or not?

2 replies

Sausagecasserole · 14/09/2021 20:25

We've fallen in love with a house, put an offer in 14 weeks ago which was accepted. Searches all came back fine but something in the paperwork has recently been flagged up which might mean the property is unmortgageable. We are devastated. Solicitor has sent everything off to the lender today but hasn't been able to give us a timescale as to how long it will take them to decide. We are both so worried and can't relax at all until we know. All this money and time and now it might all fall apart at the very last hurdle.

It will need to go to the legal team to have a look at everything and I am assuming it is them that have the final say? I could be wrong. Does anyone know how long something like this normally takes or does it vary from case to case? At this point we just want to know so that if it's not possible we can move on with our lives. Feeling very down tonight Sad

OP posts:
croon979 · 14/09/2021 20:44

I suspect that it will vary from case to case and depend on the lender and their legal team as to how long this will take to resolve and whether it can be positively resolved. it may also depend on the exact problem that has been flagged which you do not specify. What is the issue making it potentially unmorgageable?

Paranoidandroidmarvin · 15/09/2021 17:20

Mine took about three weeks with NatWest. Fingers crossed u hear soon

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