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Mortgage audit!
brownylad
Posts: 3 Newbie
We are currently in the process of buying a house, we've had the offer accepted, but we've been informed by our broker that the mortgage application has been selected for auditing, therefore delaying the process.
Does anyone have any previous dealing with this situation? Length of time this takes? (Even though the offer has been accepted, the house is still on the market!!)
Likelyhood of being declined or accepted?
PS. It is a 85% LTV mortgage and have a very good credit rating.
Bit stressed
Does anyone have any previous dealing with this situation? Length of time this takes? (Even though the offer has been accepted, the house is still on the market!!)
Likelyhood of being declined or accepted?
PS. It is a 85% LTV mortgage and have a very good credit rating.
Bit stressed
0
Comments
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Does anyone have any previous dealing with this situation? Length of time this takes? (Even though the offer has been accepted, the house is still on the market!!)
Most times it does not add any delay as the chain takes longer than the audit. However, if the information you supplied is wrong then it would add delays. Also, if they ask for evidence that was not previously submitted, then get it back to them ASAP.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Is it worth getting a valuation done to hold the property? or is there still a high risk of not getting the mortgage?
Its with Halifax.0
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