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Get dip before looking at houses/ making an offer?
^!£$&
Posts: 1,929 Forumite
Hi please can someone help us? We are a little confused as to the order we should do this in.
We now have a 20% deposit saved and money set aside for fees and would like to buy a house asap.
Neither me nor OH have done this before so we were wondering in which order should go about this. Should we get a DIP first and then look as houses? Can we make an offer without a DIP? Is an offer more likely to be taken seriously once we have a DIP?
Thanks for any help
We now have a 20% deposit saved and money set aside for fees and would like to buy a house asap.
Neither me nor OH have done this before so we were wondering in which order should go about this. Should we get a DIP first and then look as houses? Can we make an offer without a DIP? Is an offer more likely to be taken seriously once we have a DIP?
Thanks for any help
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Comments
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Should we get a DIP first and then look as houses? Can we make an offer without a DIP? Is an offer more likely to be taken seriously once we have a DIP?
Yes to all of those...Let's settle this like gentlemen: armed with heavy sticks
On a rotating plate, with spikes like Flash Gordon
And you're Peter Duncan; I gave you fair warning0 -
Thanks for the reply do DIP have an expiry date ie a month?0
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It will depend on the lender, ultimately if nothing changes with your financial situation it shouldn't change.0
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Thanks very helpful0
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What's a DIP?
As for house buying, borrow a book (free) from your local library. It will answer 100s of questions which will arise in the next few months.....0 -
Without a DIP, how do you know how much money you can realistically borrow? And how can you go house hunting without a budget?0
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We have a budget and a 20% deposit what we want to borrow is well within our affordability range we have checked online using various bank calculators etc... We also both have an excellent credit history/ rating xxx0
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We have a budget and a 20% deposit what we want to borrow is well within our affordability range we have checked online using various bank calculators etc... We also both have an excellent credit history/ rating xxx
You can't really know how mortgage lenders will assess affordability without going through the application process - but a DIP/AIP should take into account more factors than the online calculators.Let's settle this like gentlemen: armed with heavy sticks
On a rotating plate, with spikes like Flash Gordon
And you're Peter Duncan; I gave you fair warning0
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