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  • FIRST POST
    • LittleBeastie89
    • By LittleBeastie89 9th Jul 17, 8:50 AM
    • 120Posts
    • 5,082Thanks
    LittleBeastie89
    First Mortgage
    • #1
    • 9th Jul 17, 8:50 AM
    First Mortgage 9th Jul 17 at 8:50 AM
    I've tried searching to find the answers ton my questions but am having a hard time sifting through the volume of information so I'm really hoping some kind soul will read this post and respond - hopefully answering my questions and putting my mind and ease.

    Background information: First time buyer. Recieved a decision in principle via First Mortgage (in Scotland) several months ago, at the time didn't have any documentation with us to evidence everything.

    Found a property a couple of weeks ago that we loved and had offer accepted a few days ago. It was sold via purplebricks.com so I informed our solicitor and am just waiting to hear back from them.

    It was valued as part of the home report which is mandatory in Scotland and we have our meeting at First Mortgage next week, our advisor phoned unexpectedly yesterday evening so I didn't think fast enough about all my questions, which are...

    1) I have paperless banking with several accounts at two different banks and forgot to switch paper statements back on when we started house hunting, if I order them now they won't arrive in time for my meeting, can I print my own online statements as acceptable evidence?

    2) I was advised to bring all bank account statements, does this mean I don't also need credit card statements too?

    3) What sort of evidence will demonstrate confirmation of any benefits received from employers such as sick pay entitlement etc?

    4) What is the actual process and waiting time from my meeting at First Mortgage and having a confimed mortgage?

    Thanks you in advance to anyone who can offer any advice, answers or reassurance.
Page 1
    • ACG
    • By ACG 9th Jul 17, 9:20 AM
    • 15,394 Posts
    • 7,784 Thanks
    ACG
    • #2
    • 9th Jul 17, 9:20 AM
    • #2
    • 9th Jul 17, 9:20 AM
    1)Online statements are fine for 90% of lenders.

    2) They are not usually needed.

    3) Bank statements plus any letters from HMRC/DWP - you only need these if benefits are needed/being used for affordability purposes.

    4) It depends on how long between meeting them and making an application. But once a property has been found and an application has been made, I would normally expect an offer to be issued within 7-14 days - it can be quicker or slowerand will depend on your circumstances.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • LittleBeastie89
    • By LittleBeastie89 9th Jul 17, 6:59 PM
    • 120 Posts
    • 5,082 Thanks
    LittleBeastie89
    • #3
    • 9th Jul 17, 6:59 PM
    • #3
    • 9th Jul 17, 6:59 PM
    Thank-you ACG, muchly appreciated - feeling slightly less nervous now.
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