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Mortgage Accepted but not the correct amount
Benno1983
Posts: 82 Forumite
Hi All,
I've just had my mortgage accepted but ive just had the invoice from the solicitor for the amount that is due. we have a mortgage of £130,000 for a purchase price of £145,000. We put down a 10% deposit (£14,500). The solicitor's invoice states that we owe £15,541. The solicitor fees in total were £766 with £250 already having been paid.
We seem to be £500 short on the mortgage as we knew we would have to pay the remaining £500 to the solicitor. Can we add £500 to the mortgage at this late stage? We are exchanging next week.
Thanks
I've just had my mortgage accepted but ive just had the invoice from the solicitor for the amount that is due. we have a mortgage of £130,000 for a purchase price of £145,000. We put down a 10% deposit (£14,500). The solicitor's invoice states that we owe £15,541. The solicitor fees in total were £766 with £250 already having been paid.
We seem to be £500 short on the mortgage as we knew we would have to pay the remaining £500 to the solicitor. Can we add £500 to the mortgage at this late stage? We are exchanging next week.
Thanks
0
Comments
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Who is the mortgage with?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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kingstreet wrote: »Hoping for Abbey/Santander?
The £750 with them yes!!I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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The mortgage is with Skipton.0
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There's been an error somewhere. Either you failed to apply for the right amount, or the lender got the mortgage amount wrong. You're going to need to contact them to get the issue resolved and a new offer issued.The mortgage is with Skipton.
My right honourable friend GMS and I were hoping it was an Abbey/Santander mortgage as they have a little "reserve" set aside for each case for this very purpose!I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Did you apply direct or use a broker?
Speak to the lender asap if direct or the broker if not.
Had you not allowed for associated espenses?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Do you think that is something that will get resolved or will it be a case of reapplying?0
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Probably a re offer.
Wont need to apply again but will need to be referred back to the underwriters. Check with them how long it will take and stress that exchange is imminent.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Do Skipton deduct the arrangement fee on completion? Got a feeling they do at 90% otherwise it will take you over 90%I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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