Post Office Mortgage 5yr fixed

kitchensink_2

Hi

posted this query on a different thread, but has been suggested that this might be a better place! (thanks Kuztarrd).

I am in the process of offering on a house and having missed the 3.99 deals, i have also been thinking about the post office mortgage. I am especially interested in the 4.15% 5 year fixed and would like to have my solicitors etc in place in the vague hope my offer is accepted.

I spoke to the post office today to confirm a few details and was told I need to get a solicitor from the 'LMS' panel(??). In a later phonecall they have since also mentioned the 'Bristol and West panel'. I'm not really sure what this means and how to go about it. I think it could be a way they get extra comission/an introductory service and am wondering if the fees would be higher. I was also told by the post office that if i went with a solicitor not on this list I would have to pay about £150 on top for their solicitor to sort the mortgage! I've tried searching for Bristol and west panel solicitors on the net but am getting nowhere fast....Confused!!!!

Any help or info about others experiences would be really great. Thanks.

Trig1903

I ended up using the LMS panel as none of the ones I mentioned seemed to be in the B&W system as approved ones for using. I have to say the people they appointed have so far been excellent. they've been speedy, answered queries promptly and generally seem on the ball. Fees are about the £400 mark so not sure how that stacks up.

I should also add that we received our offer documents today so that's been two and a half weeks from online application to receiveing the formal offer documents which is pretty good and seems to be the norm. So far well happy with how it's gone.

kitchensink_2

thanks Trig. Did you call the LMS panel direct? (I have their number off the website).

Vertigo1

Have progressed an application for this as far as the AiP, which has been approved, so the next step is the formal application.
Does anyone know if the formal application (if accepted) commits me to the product or do I then get X days to decide whether to actually proceed, during which time the product would presumably be secured?

(Have mailed them to ask before I proceed further but thought I'd ask here in case anyone happens to know )

kitchensink_2

my guess is you would be committed as far as the application fees etc go, so if you pulled out you would lose them.... but it's just a guess! Please let me know what they say in reply, it would be helpful to know.

steve_hurst_2

Vertigo1 wrote: »

Have progressed an application for this as far as the AiP, which has been approved, so the next step is the formal application.
Does anyone know if the formal application (if accepted) commits me to the product or do I then get X days to decide whether to actually proceed, during which time the product would presumably be secured?

(Have mailed them to ask before I proceed further but thought I'd ask here in case anyone happens to know )

Heres your answer:-

When you make the formal application online you have to pay the survey fee there and then!!! You have no choice!!!

Obviously you are not committed to the loan until you sign on the dotted line but you have committed your (in my case) £270.

Hope this helps.

Trig1903

Kitchensink, no I didn't contact LMS directly. When I was on the phone to Bristol and West/Post Office and struggling to find any of our local solicitors on their system, I just said to go with the LMS option and they sorted it for me. About ten minutes later I got a call back from B&W/PO to say my solicitors were such and such. The following day I received all the paperwork from the solicitors through the post as well as a letter from LMS saying this is who we have appointed.

greggers1

Hi,

I have started filling out an application for the Post office 5 yr fix at 4.15% and wish to have a full structural survey. Speaking to the recommended surveyors for the post office I received quotes of £600. I also have to pay the additional £270 towards the mortgage valuation, surely this information will be included in the full structural report so I'm paying for the same information twice?

Can anyone help me do I have to pay nearly £900 for the surveys?

Thanks in advance

kitchensink_2

Thanks Trig thats very reassuring

flower10

I have just applied for a post office mortgage and got the AiP. I noted that you have to use a LMS solicitor, or pay an extra £150. When I rang bristol and west, they told me they couldn't give names of LMS solicitors.

Could anyone tell me how they found an LMS solicitor?