Standard for mortgage to be conditional on sale of PPR?

Leo said:
Far from it really, a developer will never include such a clause in the contracts they draw up and will more often than not refuse a purchaser's request to insert one. Vendors of a second hand properties usually accept such a request, but they are by no means obliged to.
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Any purchaser signing that would be pretty stupid. And it goes against the Law Society advice to solicitors. The only people who could sign that is those who don't need a mortgage to complete.
 
Bronte said:
Any purchaser signing that would be pretty stupid. And it goes against the Law Society advice to solicitors. The only people who could sign that is those who don't need a mortgage to complete.
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In a supply constrained market developers continue to include this as standard. They hold the cards, if a potential purchaser isn't prepared to commit, then they offer it to someone else or the house doesn't get built.
 
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