Found perfect mortgage but not buying yet...

BushBag

I'm now confused...

dwsjarcmcd

YBS's offers last 6 months. You can apply for an agreement in principle online (although not all their products are available online, some are through the branches only - check their website).
Decisions in principle aren't binding but provided you put in all the relevant details that can be proved e.g. salary, it shouldn't be an issue.
To book the funds you will need to pay any application fee. If I was you I'd call them and talk it through.

BushBag

Cheers for that. I'll get on the phone asap and ask the questions.

delmar39

We recently applied for a mortgage with Nationwide. Basically, if you pay a reservation fee it's valid for six months. The first thing they'll want to do after you've reserved is carry out a valuation on your new property at a cost of £385, which they will not be able to do as you haven't seen one yet. You can defer this until you find somewhere. They keep the mortgage open for six months (or at least Nationwide does) once you've paid your reservation fee because deals do fall through. So, you could apply and reserve and then look for a house. However, until you know what the cost of the house is together with a budget to furnish it and possibly do up how do you know how much you need to borrow? We changed the amount we needed halfway through the mortgage application because things came to light on our new house that we weren't expecting. You can play this either way, but I'd wait until you find a place so you're playing with accurate figures.

BushBag

Cheers delmar. Worth noting as Nationwide are one of the BS's i'm considering.
Currently have properties in mind and about to approach one inparticular so have some accurate figures.

danielanthony

I had an AiP with Halifax at 5.59% and when we went to put in the full application the rate had increased to 7.5%, we were told by our broker that the AiP was just to check how likely we were to be accepted for the mortgage, not the rate.