I hate them.
Myself and Mrs FE having been trying to get the eldest daughter and her Fiancée's feet, on the housing ladder.
Well they approached a well known high street bank for a mortgage and were assured that a mortgage was just about guaranteed. But with strings. In order that they would be granted the mortgage I would be required to lodge a substantial amount of dosh in one of the banks deposit accounts for 36 months.
Now of course the bank had to have the property valued to assess the worth of the property, against the 90% they were willing to lend.
Because of the delay another buyer jumped in with a higher offer. Well the daughter put in a higher offer, not vastly higher than her original bid, but higher than the other bidder.
Job done you say.
Now the bank wouldn’t lend for the extra price. Apart from the fact that it took weeks to come to the decision, they’d been sitting on my money in one of their holding accounts all that time.
It looks like the problem is maybe resolved as I’ve informed them that I’ll add another substantial amount to the deposit and the bank has agreed in principal. I’m not holding my breath though, as all the way through there has been other issues which I can only put down to sheer incompetence.
Hopefully exchange of contracts will be Tuesday.
Oh and if I was to see a prancing black horse in the high street, I’d shoot it.
Sometime I’ll do a post about when I helped out on a forum to assist those who had their lives ruined by bank charges. I’ve never seen so many ruined lives as then.