Dear Sir/Madam,
My fiancee and I paid a 10% deposit (£27′500) to purchase a new-build flat off-plan 18 months ago. However, now we can no longer complete because the mortgages we wanted have been taken off the market and our other financial arrangements have fallen through (for example, my savings have lost 40% of value). The builders have refused to help us - no reduction in property price, no refund of any deposits and they have said they may take us to court to seek a claim for any loss of income if the property sells at less than the original price.
We can’t rent out our current property and move to the new build flat and we are absolutely not willing to risk our livelihoods and liberty by fraudulently getting a residential mortgage on the new build. We are looking to sell our stake to an investor to ensure we don’t lose all of our deposit, however, the builders are again trying to block us from doing this.
Colleys Surveyors have valued the flat at £275′000 as of October and properties in the same block are now selling from £290′000 according to Foxtons, so we know that the area may have only been slightly affected by the credit crunch.
We need help and fast! Can you recommend anything that will help us avoid losing all of our savings?
———————————————————————————–
Dear Bill, thanks for writing in. I will email you back shortly with my recommendations.
If you need advice on how to sell house / choosing a conveyancer / how to stop repossession / sell and rent back schemes or anything else property related, feel free to get in touch.
Email me - editor@theadvisory.co.uk
Happy quick house sales!
Gavin Brazg (Editor)
No Comment Received
Sorry the comment area are closed for non registered users