Do we have to have a qualifying meeting?

WalkinX

Well we wanted to put the offer in so they knew we wanted it. We didn't get the mortageg first as they are only valid for that day and can still chnage their minds when you want the property - mortgages in principle are a waste of time and the banks didn't want to bother with that either.

So it's not wasting anyone's time.

But we can do a written offer.

DannyboyMidlands

WalkinX wrote: »

Well we wanted to put the offer in so they knew we wanted it. We didn't get the mortageg first as they are only valid for that day and can still chnage their minds when you want the property - mortgages in principle are a waste of time and the banks didn't want to bother with that either.

So it's not wasting anyone's time.

But we can do a written offer.

I can now see why they want the qualifying meeting. My mortgage in principle is valid for one month and I'm in the process of converting that into an actual mortgage offer of my max budget. Then I'll start making offers. I can't see the point of leaving it all to the last minute.

WelshNic

You won't be given a mortgage offer without a property to buy.

DannyboyMidlands

Well it's an offer of a specific mortgage product up to £X,000 subject to valuation survey. Payslips, P60's and bank statements have all been checked. So as far as I can possibly take things for the moment.

WalkinX

MIP's are only valid for that day and my partners brothers sister had one and then when it came to getting the actual mortageg they said no and she had to find another mortgage so I don't see why it's so crucial.

We have the deposit, just need the mortgage. We do need some more stuff on that angle as it's going to be trickier with my partners job (discrimination I think) but we can move fast.

Trouble I guess that it's a repossession so they can take another offer although the haart guy said he wouldn't as he wants a sale t progress quickly rather then start again even if it was a higher offer but is that just bluster?

robmiller667

WalkinX wrote: »

Well we wanted to put the offer in so they knew we wanted it. We didn't get the mortageg first as they are only valid for that day and can still chnage their minds when you want the property - mortgages in principle are a waste of time and the banks didn't want to bother with that either.

So it's not wasting anyone's time.

But we can do a written offer.

Interestingly I phoned London and Country (I know a couple of people who have used them) and they told me that as soon as I put an offer in to call them and they will go through the mortgage process with me.

I asked about getting a mortgage in principle and the adviser said that it was virtually just a credit check (I have a good deposit which means I will have no probs getting a mortgage) and they can get me a mortgage decision in 24 hrs.

chambta

Tell them you're a millionaire and don't need anything as vulgar as a mortgage.

sonastin

WalkinX wrote: »

MIP's are only valid for that day and my partners brothers sister had one and then when it came to getting the actual mortageg they said no and she had to find another mortgage so I don't see why it's so crucial.

MIPs vary depending on who issues it. Some are valid for a month, some for 3 months, some for 1 day.

Some do a credit check to assess if they would be prepared to lend to you, some take your word for it and tell you if they would lend to someone who gives the answers to their questions that you gave. Some, as dannyboy suggests, are as close to a mortgage as you can get without actually having a house to secure it against.

Some have some use, others aren't worth the paper they are written on. Sometimes their only use is as a magic cloak to hide behind to stop the EAs pestering you to see their advisor. But for that kind, the ones without a credit check are best so that you don't get unnecessary fingerprints on your credit record.



Now that you are mentioning repossessions though... some mortgagees-in-possession insist that you have proof of finance before they will consider your offer. The EA will pass on the written offer but you might need to supply more info to go with it for the vendor to take you seriously. The proof needn't come from Haart's mortgage advisor though. A letter from your bank or solicitor confirming that you have demonstrated to them that you have the finances in place should suffice.

B19jon_2

I was in a similar position. I absolutely didn't want to see their broker before we had an offer accepted as I didn't want the agent to know my full financial position and advise the vendors to push me to my max. I obtained an agreement in principle from another bank, and said that I would see their broker once an offer was accepted. I took some pushing, but you need to stand your ground as other have said, it is illegal to refuse to pass your offer on unless you see their broker.

In the end I did see their broker, but they couldn't get anything better than what I had already achieved.

Good luck!

WalkinX

Thanks

Unfortunately I am away so my partner is dealing with it but she said we now have had our offer accepted in writing. The mortgage brokers have picked out a few we could choose but need extra info coz of her job but she is getting it or has got it now. We also need a solicitor but we know people who have bought lot or are buying at the moment so can get a referall to ones they recommend. Can't do anything until monday now when we will both talk to him but I think it's going ok so far?!