Hi all,
We have recently received our mortgage offer from Nationwide, which was such a happy relief after 3 weeks of waiting. But that didn't last long, as very soon afterwards our solicitor informed us that the house we are (hopefully) buying is on a road which is not yet adopted by the council. This was no surprise to us, as it is on a new development which has only just been completed, though they have been building for a long time now and our house, which was one of the first to be built, is now 12 years old. What did surprise us is that there is no Section 38 agreement in place for the adoption to ever happen, although "the intention is there". This all happened nearly 2 weeks ago now, and we are still no closer to finding any answers. All we know is that an agreement is being drawn up, but "has been in the hands of the developers for a considerable length of time". As a consequence, the solicitor now has to inform our mortgage lenders (Nationwide), and we have been warned that there is a chance that they might withdraw the offer as a result. Obviously we are panicking a bit now, as it has been 2 months since our offer was accepted and we have grown quite attached to the house, as silly as that may sound :o
Does anyone have any similar experience? What are the chances of our mortgage being refused? Any advice or comments would be much appreciated.
We have recently received our mortgage offer from Nationwide, which was such a happy relief after 3 weeks of waiting. But that didn't last long, as very soon afterwards our solicitor informed us that the house we are (hopefully) buying is on a road which is not yet adopted by the council. This was no surprise to us, as it is on a new development which has only just been completed, though they have been building for a long time now and our house, which was one of the first to be built, is now 12 years old. What did surprise us is that there is no Section 38 agreement in place for the adoption to ever happen, although "the intention is there". This all happened nearly 2 weeks ago now, and we are still no closer to finding any answers. All we know is that an agreement is being drawn up, but "has been in the hands of the developers for a considerable length of time". As a consequence, the solicitor now has to inform our mortgage lenders (Nationwide), and we have been warned that there is a chance that they might withdraw the offer as a result. Obviously we are panicking a bit now, as it has been 2 months since our offer was accepted and we have grown quite attached to the house, as silly as that may sound :o
Does anyone have any similar experience? What are the chances of our mortgage being refused? Any advice or comments would be much appreciated.