Hi,
Just been speaking to HSBC regarding a mortgage for a new build we're interested in buying. The house won't be completed until December and the foundations have not been laid yet.
HSBC informed us that they could not proceed with a formal mortgage application until the foundations of the house were laid. Has anyone experienced this and do other lenders do the same thing? Last time I purchased a new build was some time ago and buying off plan wasn't an issue, but obviously times have changed.
TIA
Just been speaking to HSBC regarding a mortgage for a new build we're interested in buying. The house won't be completed until December and the foundations have not been laid yet.
HSBC informed us that they could not proceed with a formal mortgage application until the foundations of the house were laid. Has anyone experienced this and do other lenders do the same thing? Last time I purchased a new build was some time ago and buying off plan wasn't an issue, but obviously times have changed.
TIA