Buying in Scotland - when do I need to talk to lenders?

edinburgher

Thanks for the comments all, much appreciated.

jennifernil

I would definitely get an AIP in place first so you know how much you have available, and a solicitor who knows the area you are considering.

IMHO, you cannot make a serious offer without having the finance in place.

Errolflynn_2

I would agree that an AIP gives peace of mind before making any serious offer.
Also worthy of consideration: You can make a verbal offer on a property and see how that sits with the vendor before proceeding with solicitors' formal offer. Always good to test the waters IMO:)

kingstreet

googler wrote: »

When making an offer in Scotland, you need a solicitor to act for you since the offer must be made in specific legal form.

Most often, the solicitor you hire will qualify your mortgage or buying capability before making any offers on your behalf. They'll also confirm your ID in accordance with money-laundering requirements. Generally, if a buying solicitor states their client is good for the money, the selling agent or solicitor takes them at their word.

Nil out of ten for observation, on my part.

Thanks, G.

missile

As googler said most (if not all?) solicitors will check that you have funds available or a mortgage agreement in principle before he will make a bid on your behalf.

edinburgher

I have chased the broker for an agreement in principle and he's sending out a list of the information required this afternoon.

We have also started getting quotes for solicitors, so things appear to be moving again