Beacon Mortgage Advice! Help!

sillysue

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luckyfool

As long as your mortgage offer is not expired and you can get in on December or January's funding then you should be ok. Even if an audit or revaluation is required then you will probably get in under the wire. They still have funding from their source arriving monthly until February 2010, unfortunately as this has been getting booked months in advance they are not going to offer any new cases after the next 2 weeks as the already offered cases will use up the lions share of the remaining funds available.

luckyfool

My comment about offers not being renewed was probably overly hasty, in the past other lenders in similar situations have not renewed offers that have "expired". I don't know one way or the other whether that will be the case with Beacon. If its just a case of a valuation expiring then subject to a new valuation you should be fine.

sillysue

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carlyjc1

I am in a similar situation that alot of you either were or are, we just missed Novembers funding and our mortgage offer was due to expire 25th of November, Beacon said they would extend our mortage offer to 1st Decmember so that we can complete, the only confirmation my solicitor has had that it is all going ahead is an email from B Legal saying "funds will be released on 1st December" this means our solicitor is advising us not to exchange untill the money is in and to exchange and complete all on the same day. Should Beacon/B legal not have given a more solid confirmation that our funds are going to be released? Im so worried everything is going to be organised and packed and van booked etc only for Beacon not to release the funds on the 1st. Sooooo stressful, this next 2 1/2 weeks is going to drag, I really really hope they do release the funds as our vendor has found a cash buyer and weve lost 2 previous properties (and alot of money) already this year for the very same reason, can anybody put my mind at rest?

luckyfool

If B Legal have confirmed that funds will be released for you on 1st December then you should be ok.

carlyjc1

Thanks, I shall try and relax, its difficult though as sooooo many things have gone wrong, Im half expecting something else too! Beacon seem to be very unpredictable._pale_ time will tell, if its good news I shall post to put others mind at rest, if its not..............

sillysue

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sillysue

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carlyjc1

Less than a week?!! I was assuming that as Beacon said they would release the funds on 1st December then that would be the day my solicitor gets them, I bloody hope so anyway, I may have to do some more investigating Monday (sigh), have you had confirmation from Beacon to your solicitor yet that the funds will be released?
With you on the self help group idea!!! :rotfl: