Hi All,
Just after a bit of help and advice.
My husband and I are midway through a mortgage application directly through Natwest. We are first time buyers trying to buy an newbuild property on the Newbuy scheme.
Due to our circumstances we have had to deal with the bank and application ourselves, we tried finding an alternative with two brokers but this was our only option.
Unfortunately the process has been less than smooth and to cut a long story short we have raised an official complaint and we are now in the following position. We have provided the bank with all supporting evidence requested and now also evidence of our deposit. I am hoping to hear shortly that we are moving forward to have a valuation report done.
The issue we now have is that we at this stage have not paid to reserve the new build property (£1000.00) on the advice of Natwest. However the developer has said that to allow the valuation report to go ahead we will need to reserve the property! I am reluctant to pay out £1000.00 when we still dont have it confirmed that we have the mortgage offer, so what I was wondering is could we ask Natwest to put up the £1000.00?
If all goes through they will get the money back as part of the depsit we pay for the house and if not then that can be the compensation that we want for all the stress, upset, hasel and time we have had to take off of work to chase and sort out all the problems that we have had throughout the application process.
Am I expecting way too much or is this a fair compramise???
Many Thanks
Just after a bit of help and advice.
My husband and I are midway through a mortgage application directly through Natwest. We are first time buyers trying to buy an newbuild property on the Newbuy scheme.
Due to our circumstances we have had to deal with the bank and application ourselves, we tried finding an alternative with two brokers but this was our only option.
Unfortunately the process has been less than smooth and to cut a long story short we have raised an official complaint and we are now in the following position. We have provided the bank with all supporting evidence requested and now also evidence of our deposit. I am hoping to hear shortly that we are moving forward to have a valuation report done.
The issue we now have is that we at this stage have not paid to reserve the new build property (£1000.00) on the advice of Natwest. However the developer has said that to allow the valuation report to go ahead we will need to reserve the property! I am reluctant to pay out £1000.00 when we still dont have it confirmed that we have the mortgage offer, so what I was wondering is could we ask Natwest to put up the £1000.00?
If all goes through they will get the money back as part of the depsit we pay for the house and if not then that can be the compensation that we want for all the stress, upset, hasel and time we have had to take off of work to chase and sort out all the problems that we have had throughout the application process.
Am I expecting way too much or is this a fair compramise???
Many Thanks