Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • hufc2002
    • By hufc2002 4th Jan 18, 8:46 PM
    • 250Posts
    • 24Thanks
    hufc2002
    About to put house on market - when do I apply for a mortgage
    • #1
    • 4th Jan 18, 8:46 PM
    About to put house on market - when do I apply for a mortgage 4th Jan 18 at 8:46 PM
    Hi all

    Bit of advice please.

    We are about to instruct an EA to put our house on the market therefore my next question is when do we apply for a new mortgage for a new house given that we haven't seen one yet/put an offer in.

    We got a 'Mortgage Promise' from our bank (Lloyds) back in October however this is only valid until the end of this month plus I don't want to go with them as they are so expensive.

    Where do we go from here?

    Thanks
Page 1
    • Thrugelmir
    • By Thrugelmir 4th Jan 18, 8:53 PM
    • 56,711 Posts
    • 50,080 Thanks
    Thrugelmir
    • #2
    • 4th Jan 18, 8:53 PM
    • #2
    • 4th Jan 18, 8:53 PM
    Until you've found a house you cannot apply. Nothing to stop you researching the market and doing the leg work that a broker will perform for you. Then when you are in a position to move forward you'll be ready.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • hufc2002
    • By hufc2002 4th Jan 18, 9:25 PM
    • 250 Posts
    • 24 Thanks
    hufc2002
    • #3
    • 4th Jan 18, 9:25 PM
    • #3
    • 4th Jan 18, 9:25 PM
    When you say leg work do you mean looking a best buy mortgages etc?
    • marlasinger
    • By marlasinger 4th Jan 18, 9:40 PM
    • 433 Posts
    • 370 Thanks
    marlasinger
    • #4
    • 4th Jan 18, 9:40 PM
    • #4
    • 4th Jan 18, 9:40 PM
    We are currently looking for a house to buy and only have an AIP. No point in applying for a mortgage until you have found a property and know the price, etc.
    marlasinger

    • hufc2002
    • By hufc2002 4th Jan 18, 9:42 PM
    • 250 Posts
    • 24 Thanks
    hufc2002
    • #5
    • 4th Jan 18, 9:42 PM
    • #5
    • 4th Jan 18, 9:42 PM
    Like I said, we have a mortgage promise from our own bank. Where did you go for yours?

    Is it worth applying for an AIP from a lender I would go with?
    • goodwithsaving
    • By goodwithsaving 4th Jan 18, 10:21 PM
    • 753 Posts
    • 1,137 Thanks
    goodwithsaving
    • #6
    • 4th Jan 18, 10:21 PM
    • #6
    • 4th Jan 18, 10:21 PM
    When yours is sold, you have somewhere to buy and the chain is complete. Offers generally last 6 months.
    Every time you borrow money, you’re robbing your future self. –Nathan W. Morris
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

5,565Posts Today

5,685Users online

Martin's Twitter