Put an offer in

Nick85

Hi, I have put an offer in of 72,000 house today. How long does it usually take for an offer to be accepted or rejected? I realise it will vary but no one is living there and we are FTB. The house is on for 74, 950.

Also, we have decided to go with hsbc. Is it worth going for 5 year or 2 year fixed? Will the interest likely go up or down? Or is it impossible to know?

Thanks for any help.

Dan-Dan

You have managed to ask two questions in one go that no one else can possibly answer with any sort of assurance of being correct.

Is the house empty because it`s a repossesion ?

Nick85

No it was really bad a few years ago, it was in a real state. It has been done up and it looks really good now.

I sort of knew I was not going to get an answer but I am just getting impatient, haha.

joujou

What's your LTV and loan period? HSBC's 60% and 70% LTV tracker mortgages are very, very attactive if you're in it for the long haul.

Nick85

joujou wrote: »

What's your LTV and loan period? HSBC's 60% and 70% LTV tracker mortgages are very, very attactive if you're in it for the long haul.

We have a 90% LTV and was going go for 25 years even though the girl was trying get me go for 30.

I am just sitting around waiting for a call. I actually wish I was at work and give me something to do but I'm sure I won't be saying that next week, haha.

kingstreet

Is it being classed as a newbuild as it hasn't been occupied since it was done up? Will HSBC lend 90% on it?

Nick85

Well, I have a mortgage in principal with them. I don't know if it is classed as a new build, I do not thinks so.

They have just rang me and said the lady wants 73,500 so we offered 73,000 on the ea advise. I said to my girlfriend that they probably accepted our first offer but the estate agents are getting everything they can out of us because we are first time buyers.

Nick85

Just had our 73,000 offer accepted. Almost instantly we had an email off a solicitor firm. Should I wait till I have seen the bank before deciding on this?

omnasia

You should choose a solicitor but don't necessarily pay for anything yet. HSBC are notoriously difficult to get a mortgage with. Try to get a recommendation from someone who has used a solicitor recently and don't go for a cheap online conveyancer imo.

GlynD

Congratulations on your purchase. I hope you enjoy your new property when you finally get moved in.

monty-doggy

Before you put all your eggs in one basket as it were I'd see an independent whole of market broker, at 90% LTV you need to make sure you get the best rate possible as its much higher with a small deposit.

Hope it all works out for you