Clients called me on Friday they had just put an offer in on a house. They had not been to see anyone, they didn’t have a deposit, they hadn’t asked their parents if they would go guarantor, they did not understand guarantor loans, one of them is on maternity leave, she isn’t getting paid and he had not completed his tax return.
They are not in the right position to buy a property. I met with them yesterday and their might be something we can do. I explained guarantor, we called the parents who are more than happy to go guarantor. She has finished her paid maternity leave and is using her holiday leave. His tax return should hopefully be finished by the end of the week. So what have I done?
They had to cancel the contract and the plan is not let’s buy a property now but let’s buy a property in 6 months. They now understand where they are going and what needs to happen before they start looking at properties. They will also keep me in the loop during the next few months. I’ll speak to the parents and fully explain how it all works.