offer accepted, mortgage app submitted - what next?

gallivant

I am a first time buyer and I have has an offer accepted on a house, it has been labelled as "sold subject to contract" on the rightmove website.

I submitted my mortgage application on Monday and it is still processing.

I want to know if I am supposed to wait until my mortgage application is accepted and processed before I contact my solicitor and send a cheque for invoicing on account.

Can anybody advise?

Should I also be communicating with the seller through the estate agent to set a exchange date or will my solicitor do that for me.

My rental contract still has 3 months to go so I want to move in in 2 and a half months. If it is longer than I can put furniture in storage and live at my mum's house but I don't want it to be any quicker if I can help it.

wigglygiggly

I instructed a solicitor the same day as my mortgage application went in. Glad I did as my mortgage went through really quickly and its the solcitors who are holding everything up (and a snotty seller lol). Dates won't be made yet, not until you are further along the line. We should be exchanging today but the contract was late getting to us, now our seller is being awkard about exchange and completion dates. I have no idea whether I am coming or going!

Good luck with yours though

gallivant

Thanks - my mortgage went in Monday and it is still being processed. I will sign up with the solicitor tomorrow.

I realised I made an error on one field on the mortgage application and put in the wrong tax reference. I have phoned the building society and I am awaiting a call back once they get round to my form - should there be a problem in just changing a minor detail like this?

wigglygiggly

I wouldn't have thought so. Its should be fine, really

mrsc_4

You will need to instruct a solicitor and pay the search fees, i would doubt anyone would talk about dates at this early stage.

Madjock

i wouldnt pay search fees till the valuation has been done by the lender, and ideally not till youve got your offer. it depends how big a hurry the vendor is in. if anything goes wrong between now and getting an offer, if the searches have been started you will lose that money.