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Hi all,
I own a flat within a building covered by a building guarantee (not the NHBC scheme). I recently discovered the company that provides the guarantee has financial issues (seems to be cashflow). I discovered this as I tried to sell the flat, but the deal fell through just prior to exchange as the buyer was unable to get a mortgage, the reason cited by all lenders being the guarantee providers' financial situation.
As a consequence of all this, I have lost a significant amount of money on the sale that collapsed, and until the issue with the guarantee supplier is resolved it appears I cannot sell the property. Can anyone offer advice on if I would be able to seek damages from either the current provider or the vendor who sold the business to the current supplier because of this? (the current provider of the guarantee acquired the business recently from another more reputable vendor). Or if anyone knows of a regulatory body I should be speaking to about this problem?
Any help would be greatly appreciated. Apologies if this should have been posted somewhere else, let me know if that is the case and I can remove the post.
Thanks,
Matt
Edit: Sorry, meant to post this to 'Housing, Property and Neighbours' (which I have done). Can't see how to delete this post, if someone knows please message me and I will do that
I own a flat within a building covered by a building guarantee (not the NHBC scheme). I recently discovered the company that provides the guarantee has financial issues (seems to be cashflow). I discovered this as I tried to sell the flat, but the deal fell through just prior to exchange as the buyer was unable to get a mortgage, the reason cited by all lenders being the guarantee providers' financial situation.
As a consequence of all this, I have lost a significant amount of money on the sale that collapsed, and until the issue with the guarantee supplier is resolved it appears I cannot sell the property. Can anyone offer advice on if I would be able to seek damages from either the current provider or the vendor who sold the business to the current supplier because of this? (the current provider of the guarantee acquired the business recently from another more reputable vendor). Or if anyone knows of a regulatory body I should be speaking to about this problem?
Any help would be greatly appreciated. Apologies if this should have been posted somewhere else, let me know if that is the case and I can remove the post.
Thanks,
Matt
Edit: Sorry, meant to post this to 'Housing, Property and Neighbours' (which I have done). Can't see how to delete this post, if someone knows please message me and I will do that
