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Anyone ever had to deal with Mortgage Retention on Drawdown?

  • 05-12-2017 6:29pm
    Registered Users Posts: 4 juliedonovan

    hi there,

    almost ready to drawdown our mortgage, but Kitchen supplier is dragging their heels... I don't want to miss my drawdown deadline.
    The Valuer has suggested he complete the valuation but apply a retention and that the bank simply hold back a portion of the sum, but it allows us to close the sale. We then put in the kitchen, he goes back, revalues and we drawdown the final bit.
    Anybody had to do something like this?
    I don't want to go through the stress of reapplying for the mortgage, but equally I don't want to get my hopes up too much that this plan will work out either.