Would U Pay lots extra to complete mortgage on time??

onthebreadline

bris wrote: »

Only in the fact that the sale is binding at the drop of the hammer.
You should still have done your homework before the auction. It was madness to buy at auction without having a mortgage in principal. Did you at least get the legal pack for you solicitor before you bought it?

As I stated before I went to the BS - who told me the amount I could borrow based on my salary. They would NOT give a mortgage in principle. and YES I did get the legal pack for my solicitors.

onthebreadline

bris wrote: »

No, in Scotland you need to conclude missives for it to become binding.

bris - Only in the fact that the sale is binding at the drop of the hammer.

onthebreadline

Okay Guys & Girls

Decided to answer all your statements, facts and comments all in one.

Horlock - Thanks, and someone already mentioned taking out Ins then cancelling.

zappahey - My solicitor also mentioned this to me.

JQ. - No one in Scotland will guarantee a mortgage on a certain property going for auction, unless you actually have won the auction. You have to do and pay for all the checks, and you may not even win the bidding.

thegirlintheattic - You are correct, I do not have any idea of where I am in the process. I wish someone would tell me the correct order of each stage I need to do, solicitor needs to do, and Mortgage co needs to do, which I could then tick off as I am going along. This would really be a huge help to me, so I do not miss anything.

As for the payslip issue, I have discussed it with the Mortgage co today.

ruggedtoast I understood that buying at auction wasn't really suitable for people who need mortgages, unless they have balls of steel. - Of course it is suitable for people who need mortgages.

The balls of steel - hmm not sure, does that mean I need to grow some!!! but you are right there, not for the faint hearted !!!!!!

GDB2222 - Did you sign the financial adviser's terms of engagement, or even see them? NO & NO

There's loads for them to do - all of which should have been done before you went to the auction.

Can you name them???
& No discussion, No Agreement and No Terms
& illness

Sale agreement - complete within 28 days.

Look forward to the answers rolling in, if I get the order things are meant to be done, I can clearly see what I still need to do, if anything, and what has been done. Just remember I am in Scotland.

bris

onthebreadline wrote: »

bris - Only in the fact that the sale is binding at the drop of the hammer.

That was a different question, it was about buying in Scotland in general. I know the missives are concluded at the drop of the hammer in an auction.

GDB2222

Completion notice - what does the auction contract say about this?

You should have had all the legal work done, a survey, and a definite mortgage offer done before you bid. Now, people want to charge you for doing the work express, but you can't have it both ways. If you sack your IFA, it's going to cost you a lot when you can't complete.

My impression is that you have no idea what you have done wrong. Is that right?