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Send mortgage application now or later?
pauliepie
Posts: 150 Forumite
Last week we viewed a property and put an offer in which was accepted.
The seller knows our property is not on the market but she is willing to wait as she as yet to find her next property..
Our property will go on the market next Wednesday.
I have spoken to my mortgage company and received the mortgage application details today. We are only porting over the funds.
My question is: Do i fill in the mortgage application and send it off asap with the valuation fee of £250 OR do I wait till my house has been sold then fill it in.
What do you think?
Cheers
The seller knows our property is not on the market but she is willing to wait as she as yet to find her next property..
Our property will go on the market next Wednesday.
I have spoken to my mortgage company and received the mortgage application details today. We are only porting over the funds.
My question is: Do i fill in the mortgage application and send it off asap with the valuation fee of £250 OR do I wait till my house has been sold then fill it in.
What do you think?
Cheers
0
Comments
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I would go with a mortgage product that either offers a free valuation or allows you to put the cost of it onto the mortgage.
that way if it falls through you dont have to pay.
you can always change the mortgage product if it does go through!
good luck!0 -
I have to pay £250 upfront, but get a refund of £185 after completion..
Just want to know whether to send it off now or wait till I sell my house first?potnoodle wrote:I would go with a mortgage product that either offers a free valuation or allows you to put the cost of it onto the mortgage.
that way if it falls through you dont have to pay.
you can always change the mortgage product if it does go through!
good luck!0 -
I think you should wait, just in case. Your sale will take just as long as your purchase probably, so you may as well wait until you know the money is well spent (as far as current legislation on house purchases allow, iykwim).
I wouldn't spend any money on a purchase until I had accepted an offer.Everything that is supposed to be in heaven is already here on earth.
0 -
Are you definitely getting a partial valuation fee refund when you are porting your existing mortgage product? That doesn't really make sense for the lender as you would already have had a refund on your first property, surely?0
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