hi
we are trying to buy at present and have signed contracts but vendors have not signed and seem to be delaying
we are ftbs and have 100% mortgage and solicitor has advised to proceed and draw down the mortgage and then try and get them to close with the fund ready to go
i am a lttle wary on this as the vendor does seem to be stalling and we dont want to be hit with mortgage interest should he not sign
if we do drawdown and then after say 5 days nothing happens and we return mortgage chq to bank will we only be stung for 5 days interest or are there any other potential costs
we are trying to buy at present and have signed contracts but vendors have not signed and seem to be delaying
we are ftbs and have 100% mortgage and solicitor has advised to proceed and draw down the mortgage and then try and get them to close with the fund ready to go
i am a lttle wary on this as the vendor does seem to be stalling and we dont want to be hit with mortgage interest should he not sign
if we do drawdown and then after say 5 days nothing happens and we return mortgage chq to bank will we only be stung for 5 days interest or are there any other potential costs