• Vendor hasn’t owned the property for a certain minimum period

    Written By Rana Last Updated On January 3, 2024

    Mortgage Minds

    Mortgage Minds

    This could be one of the unfortunate situations you can come across when buying a property because many lenders do not lend on a property if vender (person selling a property) does not own the property for a certain period for example six months.

    It will be worth asking your estate agent once you’re offer is accepted that how long the vendor owned this property. In case vendor is selling the property that is owned by him/her for less than 12 months, you must inform your mortgage adviser so he/she can check with the mortgage lender.

    If you need help in this situation feel free to contact us on 02080909386 or email us using the comment box below.

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