Mortgage Offer

mortgage_help_3

Hi

I'm selling my late dads house and excepted an offer 5 weeks ago. Survey was only done last Tuesday and I haven't heard if there was any problems (house needs work doing to it but price reflected this). EA has said buyer is waiting for mortgage offer now and a few things from my solicitor (which I chased up yesterday). I am just wondering how long should it take for buyers mortgage offer to come through now survey has been completed?

I'm starting to panic abit because they said it would only take 4 weeks to complete and were now into 5th week and no sign of firm completion date.

Thanks for help

not_loaded

With the survey so recent, I’d say you need to wait a bit yet. You could chase your solicitor but I feel for timescales it’s all pretty normal at the moment.

mortgage_help_3

When should I start chasing the buyer to find out about the mortgage offer?

not_loaded

Well, you’ve said “EA has said buyer is waiting for mortgage offer now and a few things from my solicitor (which I chased up yesterday).”

So I’d give it a few days…

LisaLou1982

Mortgage offers take as long as they take im afraid. Usually waiting upto 14days after survey is not uncommon although ive know a few instants where its taken upto 8 weeks and 1 where it took 6 months. That one however, was because the client was being investigated for money laundering! Obviously they didnt find anything on him though as he did complete!!

mortgage_help_3

so basically I could be waiting awhile then.

Would you contact solicitor/EA weekly or less often?

Sorry for all the questions I have never sold a house before

mortgage_help_3

Quick Update

Just got call from EA and buyer has confirmed that mortgage has been approved so hopefully it won't be long before I exchange and complete

KME91

4 weeks to complete?! sorry, that really is an optimistic timescale as you're now seeing.

mortgage_help_3

I've never sold a house before so I foolishly believed the EA. I'm just hoping it isn't going to drag out too much now survey etc have been done

monkeys_bunny

Once they actually get their formal offer of mortgage at their solicitors office its shouldnt take too long after that, final queries to clear up, appointment to see you to get you to sign the Contracts and Transfer in readiness , disciss completion dates, actually set a date you can all agree on and thats about it really. the longest part should be over for you now, but just cos they say its approved doesnt really mean anything, they need the hard copy in their hands to be really really sure.

Their Solicitors have no say over mortgage offers. when chasing on things like this you are better off chasing your EA as they can talk to all sides of the transaction, your solicitors are not allowed to talk to your buyers only their solicitors were as the EA can ring the buyers direct to ask them if its needed. At this point i would just say to wait it out. Maybe give your Solicitors a ring to make sure all queries are answered and you have done everything you can so that when the mortgage offer is received its GO GO GO !


good luck

mortgage_help_3

I have chased up my solicitor a few times because they only seem to say they have queries when I ring up to see whats going on