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Letter of Identity for Sale/Purchase

  • 11-11-2010 12:36pm
    #1
    greengirl31
    Registered Users, Registered Users 2 Posts: 416 ✭✭


    Hi All ...
    I'm hoping someone has some positive feedback for this for me cause I don't think things are looking good at the moment.
    I am currently purchasing a property from DLRCOCO under the affordable housing scheme. Every aspect of the sale has gone through including the mortgage funds being released. However, there is an issue with the letter of identity - Apparently there is none for my apartment. DLRCOCO having bought these from Flemings (who I believe have gone bust since) a couple of years ago don't have this and have gone to the builders solicitors to get this but they don't have it either. They in turn went to the architect to get it but they're owed money from the builders so they won't release the letter. No Party is willing to give an undertaking at this stage that they will forward on the paperwork in due course and rightly so, my solicitor will not sign off on the title until she receives this.
    Now my solicitor has advised that if this issue isn't resolved or look like it'll be resolved fairly quickly that I should pull out of the sale. The thing is though that while I will have no problem meeting the mortgage repayments, the lending criteria has changed considerably since I was approved over 5 mths ago and there's no way I'd qualify now and I'll be absolutely devastated if this doesn't happen.
    Has anyone experianced anything like this before and has the outcome been good ??


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