Mortgage offers

Jannie1111

How long should it take a first time buyer to get a mortgage? I have a guy that wants to buy my house but has lost his first offer - I am not sure how long to give him before I pull out of the (small) chain I am in and put my house back on the market:cool:

camper_1982

About 4 weeks to get to offer stage. If at the 4 weeks, still no where, find out if they are even at survey stage, if they are not, problems must be serious and you should reconsider.

Jannie1111

My guy changed his solicitor which surprised me and had to have the mortgage offer sent to the new one - is is usual for an offer to be pulled at this point? - thanks for your help so far

camper_1982

Not usually at that point, but nothings a done deal until it all goes through.
Maybe somethings come up and the underwiter would ask questions which could void it.

JA1000

You need to clarify 'lost his offer' did he have one or was he in the process of getting one but was turned down. You do not lose an offer until about 3 months.

He has offered on your house and is not proceedable, put it back on the market and this will give him the incentive to push it all through a bit more quickly.

Mortgage offers should take less than a week, an AIP should in day or two and then followed up with the full app. A surveyor should be appointed within a week which means he has been accepted subject to the valuation

You could lose the house you want because of all his dithering. Trust no one until you get confirmation of an offer. So many people out there are being turned down offers becuase they are not proceedable, sounds harsh and it is but it's just the reality of the current market.