Hi
Asking this for a friend.
He is almost ready to move into property but the solicitor announced he has to notify the mortgage company of a potential claim against the developer for repairs needed.
Is this a formality or after paying for the mortgage company's survey which found no problem can the mortgage company withdraw their approval or change the terms if they become aware of the problem?
My friend had filled out the mortgage application including detailing funds for potential repairs which is the amount per unit being claimed in case the action against the developer was unsuccesful.
Basically he is concerned that the mortgage company could withdraw their offer as they werent aware of the potential action, could that happen?,
Thanks for advice
Tks
Asking this for a friend.
He is almost ready to move into property but the solicitor announced he has to notify the mortgage company of a potential claim against the developer for repairs needed.
Is this a formality or after paying for the mortgage company's survey which found no problem can the mortgage company withdraw their approval or change the terms if they become aware of the problem?
My friend had filled out the mortgage application including detailing funds for potential repairs which is the amount per unit being claimed in case the action against the developer was unsuccesful.
Basically he is concerned that the mortgage company could withdraw their offer as they werent aware of the potential action, could that happen?,
Thanks for advice
Tks