To those BUYING in these difficult times....

cankle

Just thought I would resurrect this thread as I have been reading it on nights and its been keeping me on tenterhooks!! So glad for all those that finally completed, some of you really have been through the ringer!!!! My situation is FTB, offer accepted on my dream home, initial mortgage declined by Natwest because of credit report (false info on it from 2008 by Orange, got that removed!!!, went to Abbey, mortgage app approved, survey completed-all good!, instructed sols to start searches....now waiting! Hopefully I will get the mortgage approval in the post tomorrow morning then I guess its down to the sols! Not sure what will happen next but I do know I need to get to the chemist and get some hair dye these greys are taking over!!!!!

cankle

Well my broker has got my mortgage offer, my solicitor has got it too, I havent....I feel left out!!! Not fair!!!! I'm rubbish at this waiting for post/phone calls game!!

Joppers78

Can I join?!

Husband and I have found a house we love - it's been on the market since May and dropped by £20K already. The owners live in the USA and had been renting it out so they're looking for a quick sale. We're chain free as we've already sold a property and renting and we've got an agreement in principle so I think we're in a strong position! My husband phoned to put an offer in this morning - it's on the market for £229,950 and we offered £200,000 which I know is very cheeky but we wanted to start somewhere and we don't want to pay over £215,000.. So now we're waiting. Apparently the EA tried to put him off, was very rude and told my husband that they'd just received a much higher offer from people in similar circumstances to us.. (don't know if that's true, obviously)..

Anyway, that's us!

cankle

Hi! I would say stick to your guns!!, I am no expert in fact the complete opposite of an expert but everyone has to have a starting point! Hope you hear some good news! I'm going to see (my) the house again tonight to find out some measurments of curtains etc (hope I'm not jinxing it!)

cankle

Ok just got home and checked the post, Ive had mail from solicitors and lender (mortgage offer!!!) Im a bit concerned about solicitors letter it says:

There are several conditions which require our further consideration:

Confirm in writing whether you have any existing mortgages (no Im a FTB)

Confirm in writing whether there will be any occupiers over 18 living with you, If so we will need to get the consent of the building society to these occupiers. (yes my boyfriend, he is not on the mortgage, he will be helping me pay the bills buy food etc but wont be paying anything towards the mortgage)

Full details of buildings insurance (Ive not got any yet, I thought best wait till exchange then I would have a date to start it, but is this not the case?, Ive had a quote but its a tad high!)

The bits in red are my answers (not sent them yet) its the bit about my boyfriend that is worrying me, he has pretty much been off the radar where finances are concerned ie lived with his mum/brother until he met me and he is in a right financial mess no doubt with ccj's etc he is petrified that if he is linked to me in any way it will screw up my chances of a mortgage and my credit file which is why he is nothing to do with me buying this house! So what do I do, do I tell my solicitor about him (my broker knows as does my lender, my lender said they need him to sign something after checking aparently this is nothing to worry about just something to say he has no claim on the property) My plan was to get settled in our new home then tackle his problems head on! but I cant do everything at once!!

amblondon

cankle wrote: »

Ok just got home and checked the post, Ive had mail from solicitors and lender (mortgage offer!!!) Im a bit concerned about solicitors letter it says:

There are several conditions which require our further consideration:

Confirm in writing whether you have any existing mortgages (no Im a FTB)

Confirm in writing whether there will be any occupiers over 18 living with you, If so we will need to get the consent of the building society to these occupiers. (yes my boyfriend, he is not on the mortgage, he will be helping me pay the bills buy food etc but wont be paying anything towards the mortgage)

Full details of buildings insurance (Ive not got any yet, I thought best wait till exchange then I would have a date to start it, but is this not the case?, Ive had a quote but its a tad high!)

The bits in red are my answers (not sent them yet) its the bit about my boyfriend that is worrying me, he has pretty much been off the radar where finances are concerned ie lived with his mum/brother until he met me and he is in a right financial mess no doubt with ccj's etc he is petrified that if he is linked to me in any way it will screw up my chances of a mortgage and my credit file which is why he is nothing to do with me buying this house! So what do I do, do I tell my solicitor about him (my broker knows as does my lender, my lender said they need him to sign something after checking aparently this is nothing to worry about just something to say he has no claim on the property) My plan was to get settled in our new home then tackle his problems head on! but I cant do everything at once!!

Hi

Congrats on the offer. Nothing to worry about:

1. Your bf will have to sign a piece of paper saying he has no claim on the property - easily sorted

2. Absolutely, wait until exchange to insure the property

Cheers

cankle

thanks for your reply I suppose what Im worried about (my boyfriend is worried too!) is that he will be linked to me in that house (am I right in thinking linked address appear on credit files) also how can I provide building insurance details to my solicitor if I havent got them yet, I guess I need to get some now or is it just a quote she wants? Hmmmm think I best ring her!!!

amblondon

cankle,

You can't start an insurance policy on the property before the date of exchange since you have no interest in the property (in a legal sense) until exchange. However, you can put in place a policy which takes effect from the date of exchange - once you have that date and the other details you need. It sounds like your solicitor wants to see proof that you have arranged insurance on the property effective as of exchange (some do, some don't in my experience). I would personally leave this until a few days before exchange but talk it through with your solicitor as it will only be through a broker or certain insurers that you'll be able to get proof of cover immediately or very quickly - you may not want to be waiting for the docs to arrive a week later in the post!

wrt your and your bf's credit files - they'll only be linked if you are *financially* linked e.g. you have a joint account, mortgage etc.

cankle

Thank you for your reply, I have drafted a letter responding to my solicitors questions and advised her that I will make arrangements for buildings insurance once I have an exchange date. With regard to the question about other occupiers over 18 I have said that my partner will be living with me however he has no financial interest in the property nor will he be on the mortgage and he will be signing a document from my lender to that effect. Hopefully this will be ok.

The letter my solicitor sent was also a bit erm well scare mongering!! She basically said she felt it prudent to advise me of the risks of my mortgage and in view of the current uncertain financial climate maybe exchanging and completing on the same day would maybe reduce the risk of my mortgage offer being changed between exchange and completion. She has given me a form to send back to her with two tick boxes either my preference for exchanging and completing on the same day or exchange and then agree a completion date (I have chose this option!) Is this normal for solicitors to ask this or even propose a same day exchange/completion?

cankle

also, should I send this recorded delivery? or would first class be ok?