what order do things happen?

pollyhelen

hi there

I hope someone can help. We are in process of house buying. Offer accepted, mortgage application in, solicitor engaged. We are first time buyers.

We have today had the letter from the mortgage company asking for proof of income/ID etc. We have also had a letter from the solicitor asking for £350 to cover search fees.

My question is: should we wait til we have got some more positive feedback from the mortgage people or should we just get on and pay for search fees. We obviously dont want to hold anything up, but we also dont want to throw away money.

Any advice welcome

Thanks
polly

G_M

Is there any likelyhood of your not being given a mortgage? if so, don't spend money on solicitors/survey etc untill you know.

If you are confident your income/credit record is OK, then keep things moving by doing stuff in parallel !

sebtomato

The mortgage company should have given you some indications when you applied. I applied with First Direct by phone, and after 30 minutes of questions, they gave an indication on whether this would be accepted or not (subject to the information provided being correct and evidences provided).

pollyhelen

thanks guys, both helpful comments.

we feel fairly confident, both from our own financial situation, but also from what has been said, but we are glad to hear advice to reassure our anxieties!!

jockosjungle

If you think you will get the mortgage then proceed. If you have any doubts maybe wait but you may be adding a week to the process (or longer depending on the mortgage company)

R

SmlSave

Hi polly,

IMO its a good idea to get the money across to the solicitor but ask them to put their file on hold until the mortgage offer is issued. That they they have the funds ready to do the searches straight away but won't spend your money until the mortgage paperwork is received.

However, remember that Local Land Searchs can sometimes take weeks to be completed and this may hold up your purchase.

£350 sounds like a lot on money for searches! What other ones are you getting done?

jockosjungle

£350 was what they wanted from me as well