After making the decision to buy, and arranging for the remortgage, we didn't feel that we needed to continue our holiday,
we wanted to go back to oil the wheels, and get things moving. We also wanted to tell the families of our decision. So we
packed our belongings, and headed for home in Portsmouth. Back home
We arrived home after a 5 hour journey, tired
but filled with excitement and enthusiasm. We waited till the following day, then proceded to tell all family members of our
decision, getting mixed reactions from various members. The one from my father being the worst, he is getting old now, and
the thought of us moving so far from him, filled him with dread. He seemed to think we would be so much farther away, than
just the 5 hour ride.
Dean had been having a very stressful time at work of late, so after many weeks of indecision,
we decided that he should pack in his job, so he handed his notice in.
We thought we would rent out the lower half of
this house, and live in the top part, the rent paying for our mortgage, supplementing it by Dean working odd times on the
nursing bank, as and when needed.
Whilst Dean was working his notice, we heard from the building society who we were
expecting to have the remortgage with, the broker had led them to understand that we wanted the funds for an extension to
be built onto our Portsmouth house, and not for the purchase of a second home. Now they informed us of this, and when we said
the real purpose of the loan, they told us that they did not make remortgages for this purpose. So now we were left with a
house purchase partly arranged, and no funds, with Dean working out his notice, shock, horror!!!
What to do now, that
is the question in our minds.
Just out of curiousity, I rang another broker, asking him if he knew of any other building
societies, who loaned funds for second homes, he asked what the situation was. After explaining it to him, he asked if we
would allow him to make enquiries on our behalf, well, what to lose, we were already in a fix? So told him to go ahead. Within
a matter of hours he had found an interested company, willing to go ahead with the remortgage if we wanted it. Did we!!! By
now we had sold ourselves on having Druids Lodge, and there was no way we wanted to lose the sale. So we explained that Dean
was now on notice, so couldn't provide the building society with proof of earnings, he said he would see if the society would
accept the proofs as given to the previous society, which they readily agreed to, Hallelujah!!! so it was all systems go again.
This time all ran smoothly, thanks to the new broker.
We didn't, in our naivite, use a surveyor for Druids Lodge,
as most of the walls etc were covered with a chipboard, and they could not have seen what was under them anyway. We did have
to get an extra solicitor involved, as the Portsmouth house, which was the one being remortgaged, was curently in my name,
and as I hadn't worked for ages, then the new mortgage would need to be in Dean's name, so ownership of the house had to be
transferred to him, and we couldn't both use the same solicitor, as there would be a conflict of interests, however, this
was a minor hiccup, and everything went well from then on.