Yay we got a mortgage - now for the rest

Enigma80

Tuscan wrote: »

very pleased for you, well done...

Thanks.


We've been instructed by the vendor to provide a formal offer in writing to pass on to her solicitors, I've drafted something up, just wondering what you thought and whether it's worth mentioning that we have a mortgage agreed in the letter? Also there was some discussion of her leaving things for us but nothing was agreed at the time, so I'm wondering what I could put in the letter if anything to cover this? I'm popping over to see her tomorrow:

12 Some Street

Atown

Theshires

A12 2BC

Mrs Apple

12 Someother St

Btown
Theshires
A13 4BC

10 December 2009

Dear Mrs Apple,

Re: 12 Someother St, A13 4BC

Further to our viewings and verbal agreement we are writing to formally offer you £133,000 (one hundred and thirty-three thousand pounds) for the above property. This offer is subject to contract, satisfactory survey and mortgage offer.

Should you wish to discuss this matter further please contact us at your convenience.

Regards

brit1234

ess0two wrote: »

You cant manage every risk,just be more aware of the consequences.

However you can analysis the types of risk and the ones with high frequency of occurance or high impact then prioritising mitigate against them.

Death, injury, job lose covered by insurance, rising interest rates by fixed rate deal, simple.

You have to realise that once you have a year of deflation small inflation blips appear to have a bigger effect, hence we have rising CPI at moment getting close to the magic 2%.

http://www.statistics.gov.uk/cci/nugget.asp?ID=19

Now once that goes over 2% (likely by Dec 2009 figures) there will be presure to raise interest rates next year to keep it under 3%.

Thats why 5 year fixes are so good.

asandwhen

ess0two wrote: »

Dont forget the sky falling in or an asteriod strike.

I think us returning to 5% boe base rate is a little more likely to happen than the sky falling in.

I would be more than happy for them to stay where they are - I was just offering some friendly advice for the op.

Although his rate looks good now it could look bad very very quickly.