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FTB Help - Abbey - BISF
nirey666
Posts: 39 Forumite
Hi There
i am a FTB buying a BISF non standard construction property (steel). We have passed first risk check with abbey. Seller is currently having a full structural report done on the property.
We have nothing set in stone that abbey will lend, but that they will look at each on individual merits, this property is in excellent condition. We have a 15% dep. and wish to take abbeys 5.99& no fees over 4 years fixed.
I wondered; if structural report is okay, what is our next move, do we make a full application with abbey? im sure abbey advisor told us that to get the valuation, make the full app, we must first have an offer accepted. But since we're in scotland, does an accepted offer not mean a contract? Thus, if abbey then decided to reject the property would we be obligied to continue with the sale??
Would we at this point offer subject to valuation??
Any info on the process would be great, as would any additional info on BISF. Thankss
i am a FTB buying a BISF non standard construction property (steel). We have passed first risk check with abbey. Seller is currently having a full structural report done on the property.
We have nothing set in stone that abbey will lend, but that they will look at each on individual merits, this property is in excellent condition. We have a 15% dep. and wish to take abbeys 5.99& no fees over 4 years fixed.
I wondered; if structural report is okay, what is our next move, do we make a full application with abbey? im sure abbey advisor told us that to get the valuation, make the full app, we must first have an offer accepted. But since we're in scotland, does an accepted offer not mean a contract? Thus, if abbey then decided to reject the property would we be obligied to continue with the sale??
Would we at this point offer subject to valuation??
Any info on the process would be great, as would any additional info on BISF. Thankss
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