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Lost our buyers

10 replies

Violetandpurple · 04/07/2024 13:22

lost our buyers today, they cant secure a mortgage. Devastated as we were weeks from exchange. Our onward purchase have given us 5 days to secure a new buyer ..
just need somewhere to rant & moan!

OP posts:
LindaDawn · 04/07/2024 14:49

Sorry to hear that. I believe what’s meant to be is meant to be. Is the house you want to buy one off a kind or plenty available? 5 days isn’t Long to final @ new buyer but I doubt whether another buyer will be quick to find for the vendors. They are better off waiting for you,

ThirdSpaceFan1 · 04/07/2024 14:52

argh so frustrating! My mum lost 5 buyers for various reasons, two of them due to mortgage offer issues.

Your seller is obviously feeling the pressure too! How long is the chain?

Papricat · 04/07/2024 15:42

Did they not apply for mortgage after the offer was made? The estate agent should have asked proof before cancelling viewings. Sounds fishy.

CKMondlerlife · 04/07/2024 18:24

Sorry to hear this,.its so disheartening. We're on our third chain having had 2 buyers pull out. I hope you get a new buyer soon.

DrySherry · 05/07/2024 08:31

Fingers crossed for you. I'm sure your agent will be chasing up any parties that were interested prior to you accepting. Can you afford to give a price incentive to get another buyer locked in asap ?

RunningThroughMyHead · 05/07/2024 08:44

Oh no, what happened? Did they not have a mortgage in principle and then a mortgage offer? Or did their circumstances change?

If it helps, I know lots of people who have benefitted from this kind of situation. Things seem to work themselves out.

Percivaleverett · 05/07/2024 08:48

Sorry to hear this OP. As others have said did they not have a mortgage agreed on principle?

blackandwhitestripes · 05/07/2024 09:02

Some banks are revoking offers based on surveys. Some are revoking on affordability, in essence the banks are very nervous right now, so I would be looking further buys with low LTV values, easier said than done, but downsizes would be a good bet.

Violetandpurple · 06/07/2024 22:12

Yes they had a mip.

Luckily i think we are potentially sold again to a cash buyer! And have two more viewings booked in so feeling very hopeful.

OP posts:
Twiglets1 · 07/07/2024 10:27

Violetandpurple · 06/07/2024 22:12

Yes they had a mip.

Luckily i think we are potentially sold again to a cash buyer! And have two more viewings booked in so feeling very hopeful.

Aw that’s good it seems you have a new buyer lined up.

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