I was very much hoping that, by this point in our house buying journey, I would be able to write a positive post with good news and a proper update. Unfortunately, 2020 just isn’t the year for good news it seems.
We have heard back from our mortgage broker that the mortgage provider we had been accepted by has now decreased their offer, due to instability with the economy, and they are now no longer offering us the same amount as before, meaning we don’t know where we are going to go from here. As I work part time and am self employed, they are no longer looking at my self employment as a trustworthy income, despite me continuing to earn throughout the pandemic and not needing to rely on government grants. It is a real blow.
The decreased offer is £13k below what it was, which would leave us with barley any money to do the work needed to the property. We are uneasy about buying somewhere that needs work, without the money to do at least a large chunk of it to start with, so I’m not sure at the moment whether we will even be buying at this point, or if we will need to go back to the drawing board and write 2020 off as the total disaster it has been.
To say I’m gutted would be an understatement. The mortgage provider had already taken our money for the valuation and, as far as we were concerned, it was all going ahead as planned. So, to hear this, it is a tough one.
I’m suffering with my seasonal affective disorder at the moment, and I just feel like giving up and pulling out of everything at the moment as the stress is breaking me. This post is unfortunately a negative one. Hopefully I’ll be able to come back with some better news soon.