Mortgage uderwriters & Homebond

Biscuit80

Hi,

We have recently agreed to purchase a house in an estate that was partially finished in approx 2007 before the developer went bust.

about 15 houses in the estate were sold before he went bust and these houses have been occupied since then.

The house in question was fully completed at that time but was never sold (along with about 20 other houses in the estate) and they have remained unoccupied until this time.

The unfinished estate was purchased with the last 12 months by another developer who now has these completed houses on the market.

Our issue is that the underwriters won't allow us to draw down the mortgage until there is some sort of homebond in place. The new developer says that he will not be providing one. We got an engineers report done that pointed out nothing structural/serious (only cosmetic issues) which was provided to the bank but this is not enough.

Do we have any options in trying to progress this?

Thanks in advance.

godtabh

Have you contacted homebond?

They have gotten some what strict on how and what they sign off on

Biscuit80

godtabh wrote: »

Have you contacted homebond?

They have gotten some what strict on how and what they sign off on

I haven't - to be honest, I didn't know this was an option. Thought it would have to be the developer/builder that did this?

Biscuit80

Got in contact with homebond. Weren't much help, said there was nothing they offer or could do for us.