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  • FIRST POST
    • joirish
    • By joirish 9th Sep 17, 4:45 PM
    • 47Posts
    • 17Thanks
    joirish
    9 - wks in & buyers changing mortgage provider!
    • #1
    • 9th Sep 17, 4:45 PM
    9 - wks in & buyers changing mortgage provider! 9th Sep 17 at 4:45 PM
    Hi - sale was agreed on my house early July & mortgage survey done on 19th July. Process chugging along nicely (if a bit slow at times) and my conveyancers said last week we should all be able to hopefully exchange this coming week (11/9). However I get a phonecall from a surveyor on Fri at 3pm to arrange a mortgage survey on behalf of my buyers! Turns out they're applying for a new mortgage & so need a new survey. This is 9 weeks after sale was agreed - jas anyone else had this happen before ?

    I'm worried now as I'm scared they might pull out this far into the process & in turn I could lose the house I'm buying. (I know nothing is certain until you have the keys in your hand but this is a fresh start post divorce for me & the kids and I want it all to go ahead).

    Any advice / words of wisdom greatly received
Page 1
    • ACG
    • By ACG 9th Sep 17, 4:57 PM
    • 15,794 Posts
    • 8,092 Thanks
    ACG
    • #2
    • 9th Sep 17, 4:57 PM
    • #2
    • 9th Sep 17, 4:57 PM
    When is the new valuation being carried out?
    Why have they changed lender?
    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.
    • joirish
    • By joirish 9th Sep 17, 5:01 PM
    • 47 Posts
    • 17 Thanks
    joirish
    • #3
    • 9th Sep 17, 5:01 PM
    • #3
    • 9th Sep 17, 5:01 PM
    I've agreed to this weds the 13th (earliest they had an appt).
    Don't know why they've changed - hoping it's just for a better rate or maybe theirs expired .
    • ACG
    • By ACG 9th Sep 17, 5:05 PM
    • 15,794 Posts
    • 8,092 Thanks
    ACG
    • #4
    • 9th Sep 17, 5:05 PM
    • #4
    • 9th Sep 17, 5:05 PM
    They may still get the mortgage offer next week. I am not sure if you will manage to exchange before next weekend, but if not there is no reason I can see why it would not be a week on monday at the latest.

    If solicitors do it right, you could end up completing a week on Friday - best case scenario.

    I would try to find out why they have switched lenders, I would not be happy this far down the line if it is down to finding a better product.
    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.
    • joirish
    • By joirish 9th Sep 17, 5:16 PM
    • 47 Posts
    • 17 Thanks
    joirish
    • #5
    • 9th Sep 17, 5:16 PM
    • #5
    • 9th Sep 17, 5:16 PM
    Thanks - I'm even more annoyed because I'm on nights this week (joys of the NHS) & so will have hardly any sleep on weds between shifts to fit this in.
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