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They accepted the offer!
tenacious
Posts: 47 Forumite
So I posted on Monday about when to put in a second offer, we did do it on the Tuesday for a tiny bit over 10% less than the asking price, and they have accepted it!!! We thought we would have to go back with one more but tried our luck. We managed to secure it for £338500 with an asking price of £375000.
So after the initial shock and excitement, we are now hit with the reality of worrying our mortgage wont be approved. We are in a slightly unique situation in that I work for myself as an IT contractor and only since March this year. I spoke a broker who specialised in contractor mortgages and subsequently both Halifax and Clydesdale agreed in principle that they would lend us a ridiculous amount of money (£485K) based on our incomings and outgoings, my contract etc. We are going for a 15% deposit and can get 4.89% fixed for 2 years.
Anyway, even though we have had this, I am still worried it wont go through with the full application.... nerves are getting the better of me!
To make it worse, we go away for 2 weeks on Saturday so will tonight be spending all the time getting all of the documentation together that the bank need so we can get it all to the broker tomorrow or Friday latest. The broker reckons it will then be around 2 weeks to get the offer back - this seems a long time?
Im sure I am going to have loads of questions and frustrations to vent over the coming weeks... First of all, do we instruct the independant surveryor to do our homebuyers report before we get the mortgage offer? Do we instruct the solicitor to conduct searches etc before we get the offer..
Anything we should be wary of?
We have bought twice before but I cant for the life of me remember much of what happened!!
Thanks so much for any advice, let the fun commence!
So after the initial shock and excitement, we are now hit with the reality of worrying our mortgage wont be approved. We are in a slightly unique situation in that I work for myself as an IT contractor and only since March this year. I spoke a broker who specialised in contractor mortgages and subsequently both Halifax and Clydesdale agreed in principle that they would lend us a ridiculous amount of money (£485K) based on our incomings and outgoings, my contract etc. We are going for a 15% deposit and can get 4.89% fixed for 2 years.
Anyway, even though we have had this, I am still worried it wont go through with the full application.... nerves are getting the better of me!
To make it worse, we go away for 2 weeks on Saturday so will tonight be spending all the time getting all of the documentation together that the bank need so we can get it all to the broker tomorrow or Friday latest. The broker reckons it will then be around 2 weeks to get the offer back - this seems a long time?
Im sure I am going to have loads of questions and frustrations to vent over the coming weeks... First of all, do we instruct the independant surveryor to do our homebuyers report before we get the mortgage offer? Do we instruct the solicitor to conduct searches etc before we get the offer..
Anything we should be wary of?
We have bought twice before but I cant for the life of me remember much of what happened!!
Thanks so much for any advice, let the fun commence!
0
Comments
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Congratulations and well done!0
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I suggest you limit your expenditure to the essential for now, the mortgage valuation fee. Once you have your mortgage offer on the way, then you can open the taps and start spending on the searches and a more in-depth survey.
In this way, you avoid potentially wasted expenditure if you do have mortgage problems.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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