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Mortgages - Moving Home

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muddyjames:
I am confused big time!

If you would like a financial advisor to talk to I can extremely highly recommend a guy who doesnt charge anything if he has been recomended by a friend.

He has just found me a great deal as my fixed term mortgage is ending in the next month or 2. He has also told me just how soon I will have the mortgage paid off if I keep going as I am. I worked it out to be longer :shock: :lol:

Great guy who talks English, not goobledegook. He did all my house buying mortgage stuff 2 years ago for me and my house insurance the last 2 years as well.

If you want his number pm me.

Smego:
Don't pay anyone, just use a mortgage advisor it is illealal for them to change you a penny!

Mad Martin the 1st:
i work for a coneyancing solicitors (i am a case manager) and we do get this sort of thing all the time, a deposit is something that you just agree to, say on paper but when exchange goes through that is the old way of paying the deposit to all parties. but nowadays people will agree either a 5 or 10% deposit and this is paid on the day of completion as not many people have this sort of money to pay before they get the sales proceeds through. this should not cause an issue to anyone involved and your solicitor should have negotiatied this for you on your behalf to prevent any problems.
once exchange has taken place then the chain is legally binded to sell and buy and if someone pulls out then that person is liable to pay the deposit and possibly costs to the other party depending on the situation.  if all falls through then your solicitors bill has to be paid for the work that they have carried out on the current transaction but in some cases if you buy another house they will add this bill on to the next bill for you if you are using them for the next ourchase.
you really need to speak to your solicitors about this as you are paying them to sort this out for you but i am happy to give you any more advice if i can

thanks
Gill

Mad martins wife

Mark_Solesbury:
thanks everyone.

it does seem that the deposit we get for ours will be passed on to our vendor, so we dont in theory have anything to worry about :)

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