Mortgage Application (FTB)

Gravity_2

Hi,

I have a query, I'm hoping someone will have the answer.

Can I obtain a mortgage before putting in an offer for a house?

The reason I ask is because I applied last year (Halifax). I have defaults which will expire in a few weeks but at the time they prevented me from getting a mortgage.

At the time I obtained an AIP from them in order to put in the offer but when the application went through it was declined. Is it possible to find a house and apply for the mortgage for the full asking price, then put in the offer (hopefully for less then asking price) once agreed then proceed??

ACG

Why not speak to a broker?
They can find you a lender who will accept your circumstances so your not applying blindly.

If you put an application in before you find a property, it might end up expiring if the vendor doesnt accept your offer and you have to find another property - this will only have a negative affect on your credit score.

amnblog

In order to get a full mortgage offer the property needs to be valued and the vendor might find it strange for a valuer to turn up before they had received an offer on the property!

Once your defaults have expired do you see any reason why you would have a further problem?

Gravity_2

No don't see any other issues.

thanks for your responses

kingstreet

If you want a reliable DIP use a different lender. Most carry out a full search at DIP, which isn't the Halifax "soft search" which is notoriously unreliable