Comments | scary_lady: go back a space

scary_lady

go back a space

Jan 05, 2007 12:21

Had phonecall from house buyer last night. She's having unexpected difficulty scraping together the 10% deposit (and the evil stamp duty), and has advised that we accept other viewers as she can't guarantee being able to buy.

humph

Comments 7

velvet_the_cat January 5 2007, 13:28:05 UTC

Grrr... what kind of idiot goes looking to buy a house for that much if they can't finance the deposit in the first place?

I feel your pain!

scary_lady January 5 2007, 13:34:25 UTC

It's always the same here - local asian families buy these houses with the help of their other relatives. In this instance, she was expecting the help of her brother, who apparently can't now help as he has skinned himself buying his own house. So she's desperately trying to raise a loan from her other relatives, but has less hope of doing so.

westernind January 5 2007, 16:46:47 UTC

can you take a 5% deposit?

scary_lady January 5 2007, 22:36:50 UTC

It's not me who wants a deposit, it's the mortgage company. I;m assuming that they are taking out a Muslim Mortgage because of the whole Usury Thing and are therefore more limited in their choice of product than the rest of us.

We have offered to sell them the house at 300K with 4% cashback on completion, which means that they essentially buy the house at the agreed price of 288K, but 12K of their borrowing would only have to be for a few weeks.

november_girl January 5 2007, 18:50:03 UTC

Shit.

catpooka January 5 2007, 19:13:18 UTC

Not good news atall - I hope she sorts herself out or another buyer appears very soon *fingers crossed*

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