Mortgage advisor liability | Free legal advice

Questioner

Ir/Madam, We found a house that we wanted to buy. We then first asked the mortgage advisor if it was financially feasible. My wife and I are both entrepreneurs (together a VOF). According to the advisor, this was not a problem and we could even get a lot more mortgages. We then bought this house with conditions precedent. The annual statements 2015/2016/2017, IB 2015/2016, purchase contract, valuation, financial plan advisor etc. had already been submitted to the departing party and approved, only the IB 2017 had to be submitted. This could only be submitted after the termination date (the accountant had to make this and the advisor procrastinated). Nothing else came out of the IB 2017 than the annual figures. Now we can no longer terminate and the mortgage provider wants to deviate from the standard. The annual figure for 2015 is lower than that of 2016 and 2017. That is why they want to keep 90% of 2017 as income. That amounts to a gap of approximately Euro 30,000, which we cannot pay. This could have been known already based on the annual figures that we sent to the advisor 2 months before the final date for termination. Before this date, the advisor kept telling us (in emails) that it would work out. We had no indication that it would not work out. I have also looked at the mortgage conditions myself and it appears that it is in accordance with the standards. Can the damage from this be recovered from the advisor/provider? Yours sincerely,

Lawyer

I do not rule out that your advisor is liable. However, what is your damage? Does the seller hold you to the agreement and are you liable for a penalty (often 10% of the purchase price)? I also wonder why you did not cancel the purchase or ask the buyers for an extension of the cancellation period when it became clear that the mortgage would not be arranged on time in any case? I think it would be wise to hold the advisor liable, but to first wait for his or her response and then consider whether and which further steps would be useful.