Anyone want to be my house-buying buddy?

sunshinetours

princessamy86 wrote: »

No you should instruct a solicitor now, otherwise you will hold things up. It takes a few weeks for your mortgage offer to come through but the solicitor can be getting on with other things while that is happening.

I would agree you don't want to hold anything up, but as no mortgage in principle yet, may want to hold up appointing a solicitor to actually start any searches etc as yet until you are sure this is going ahead (survey booked, mortgage agreed etc)

You can find a solicitor and put them in funds for searches etc but advise them to hold fire until you are happy things are proceeding?

hairdye

Thanks

I have my meeting with the mortgage provider on Wednesday so I will wait until then because it's only a day, then go ahead, thanks for the advice

Tony_R

I'm in a very similar situation to yourselves. My timeline so far is as follows:

29/04 - Offer accepted.
30/04 - Contacted by solicitor from last house purchase attempt. He will act for me again, but he changes companies in two weeks.
04/05 - Mortgage Application made with Post Office online.
05/05 - Mortgage Application accepted. They will send paper work and SAE to send proof of earnings.
06/05 - Post Office instruct surveyor for valuation and homebuyers report.
07/05 - Post Office Letter arrives with SAE.
10/05 - SAE sent back with proof of earnings.
10/05 - Homebuyers survey and valuation carried out.
15/05 - Full mortgage offer recived.
15/05 - Home Buyers Survey received. All good.
17/05 - Solicitor starts at new company, cheque for searches provived.
17/05 - Signed mortgage offer and direct debit mandate returned.

I'll try to keep this updated.

LE3

Great to see so many people joining this thread - can't wait to see how everything goes over the next few weeks!

I had a phone call this morning from the EA chasing progress (apparently they do this weekly to keep things moving!). She'd already spoken to my solicitor who confirmed that the searches were being done this week and that the contract paperwork had all been received. She asked how I was getting on with my mortgage to which I said that all the paperwork was in - she did get a bit peeved when she asked for the number of my financial adviser so she could chase progress with them & I advised that I didn't have one & I was dealing direct. I think they are peeved that the valuation survey hasn't yet been done. Tbh the mortgage will take as long as it takes

sharon1982

Hello!

I decided to tag onto this thread too! I had an offer accepted on a house yesterday and am terrified!

So far I have instructed a solicitor, and I have a mortgage agreement in principle with Halifax, which came through yesterday. Our financial advisor is going away at the end of the week for a week, so hurriedly trying to get docs together so can send application off before he goes away.

However, I have since found what I think looks like a better rate from Yorkshire Building Society, so am waiting to hear what our FA thinks - I hope this doesn't hold things up if we decide to go with them.

We are FTB and did say we could complete very quickly, (vendor has no chain either) so don't want the mortgage to hold things up!

Blondiebird

After 4 years of looking for a home, 8 failed sealed bids and two gazumps, we've finally had an offer accepted on a house!

We had a solicitor in place (I did some shopping around a while back) and we've submitted our mortgage application, which (fingers crossed), should be fine as we had a MIP for an amount much higher than what we now want to borrow.

Now the nail biting begins! I'm terrified that the valuation report will come in lower than what we have offered for the property and that we will either have to stump up more cash or try and re-negoatiate the price with the vendors. They rejected all of our other lower offers, so really starting to get jittery, but can't help getting excited too!

I hope everyone else's house purchases go through OK!

sharon1982

I feel the same! Submitting mortgage application on Thursday - am so worried there will be problems (even though we also have a MIP for more than we need) and terrified about the valuation!

hairdye

Right, thought I would start a lsit like Tony R to help me keep track!

17/05/10 - offer accepted
19/05/10 - mortgage application in, solicitor instructed, homebuyers survey and valuation booked in for 21/05/10 and paid for through mortgage provider

all systems go! Hope everyone else is getting on ok!

hairdye

I just thought of another question

The property I am buying had a HIP in Sept 09, is this still valid? If not will they need to get a new one or will I be responsible for any associated costs?

Thanks

sharon1982

Wow hairdye, that's very quick, that's great! My offer was accepted on 17th and mortgage app being submitted tomorrow by IFA - hope we can get valuation and survey booked in as quick as that! Which mortgage provider are you with?