Unable to get mortgage

[schmoo71]

I bought an apartment in Riga, Latvia through a London based company who said from the offset that they help you every step of the way to get upto an 85% mortgage, now since i reserved the apartment, things have changed a little in Latvia in that they do like to lend to overseas buyers as much, and the one bank that i was told would make me offer have just declined. THis has been difficult primarlily due to the fact that i am self-employed. But this London company knew this and didnt say at any stage this would lead to it being more difficult to get the mortgage. Also as the completion date is so close they have told me now that i cannot sell it to a 3rd party as that was against their rules, so with no mortgage they will just keep my deposit (18k) and thats me done.!

Is there anything i can do here to get this deposit back in light of their failure to secure me a mortgage.??

Please advise.

 

[alexlee]

I'm trying to work out whether this is spam or not. Or just someone who is lost (in more ways than one).
Alex

 

[softmonkey]

are you sure you did not get scammed?

you have 3 choices

1. give up, write off the cost as an expensive lesson
2. push on, find finance elsewhere and hope you actually do end up owning a property
3. pursue legal avenues; Australian Consumers Association, the UK Consumer Protection Association, or lawyers

good luck mate

 

[schmoo71]

thanks for the advice 'softmonkey'..i'm sure one of those is the right thing to do, i fear it will end up being the first oen though....!

I dont think it was a scam...they are a reputable company and i have spoke to people who have dealt with them before...

and 'alexlee'...i think you should look up the definition of spam.! spam is trying to sell a product or service..or trying to swindle money out of people.....neither of which i'm trying to do....

but thanks for all advice.

 

[newhigh]

hi - rescue?

if this place is well priced and i can raise the dough, i may be interested in taking this off your hands provided i can arrange the funding with your bank. please tell me more. [email protected] I cant promise to pay more than what you paid for it, but at least you'd get your deposit back. i know latvia is not poland but polish property is incredibly overpricced and i'd be loath to get into something like that. my mobile phone +61400192008

 

[schmoo71]

thanks for that post..! i'll e-mail you all the details in the morning about the development, i'll also e-mail and ask the agent about the possibility of passing it onto someone else, i know they had some rule about it being too close to the completion date to sell, i did try that option. But i'll e-mail them again and explain this situation to them.

 

[The Y-man]

and 'alexlee'...i think you should look up the definition of spam.! spam is trying to sell a product or service..or trying to swindle money out of people.....neither of which i'm trying to do....

Alex was being vigilant because

1. this is an Australian site
2. you live in the UK
3. your property in question is in Latvia

The combination just didn't quite "sound right".

Cheers,

The Y-man