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Valuation to Offer
welshy1984
Posts: 10 Forumite
Hi All
I have a valuation on a new build property this coming wednesday the 27th, ive been asked for proof of deposit and gift letter from my parents which are being sent today.
How long do you think it will take for a final offer to come through?
the company selling the house want to exchange within 4 weeks that was a week ago
I have a valuation on a new build property this coming wednesday the 27th, ive been asked for proof of deposit and gift letter from my parents which are being sent today.
How long do you think it will take for a final offer to come through?
the company selling the house want to exchange within 4 weeks that was a week ago
0
Comments
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This is practically impossible to answer.
A few days if the lender has everything it needs. Longer if it doesn't...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 -
Just get your documents in ASAP and chase the mortgage company once the valuation is done. I got my offer 2 days after the valuation was completed. Good luck!0
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They can still ask for more documents after the valuation so like Kingstreet said, impossible to answer. I recently completed on a new build. The offer was issued a few weeks after the valuation. For some its the same day so depends on a case by case basis.Trainee Building Surveyor
DIP 12/02/13 - Mortgage application 13/02/13 - Valuation 14/02/13 - Valuation OK 22/02/13 - Mortgage offered 05/03/2013 - Completion 22/03/2013
FINALLY IN MY FIRST HOME!!! WAHOOOOOOO! :beer:0 -
ok great, they have also asked for a letter explaining adverse credit I had a while back, does anyone ahve any tips or hints on what to include in the letter?0
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Adverse credit covers a broad range of circumstances. From self inflicted to pure misfortune. So some broad details would be useful in order to comment. .0
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mixture of self inflicted and misfortune I have had good credit history since current employment started in 2010 so was going to say adverse credit is due to lack of ongoing employment...which I have now?0
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That would suggest to a lender that if you were unemployed in the future you would struggle to pay the mortgage. As have no emergency savings to fall back on.0
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So you think they would turn the mortgage down on that basis?0
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