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Mortgage Offer Letter
Wozza85
Posts: 128 Forumite
What is detailed in this? I am currently waiting on it.
Does one copy come to me and one to solicitors?
Does it just outline, the amount we will be paying each month, for how long, the property we are buying etc etc?
Does one copy come to me and one to solicitors?
Does it just outline, the amount we will be paying each month, for how long, the property we are buying etc etc?
0
Comments
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You should have received a KFI (basically a quote on a 3-4 page document).
It will look similar to that with some extra bits on there, such as conditions of the mortgage - for example paying off a credit card if you have one and said it would be paid off on the application form.I am a Mortgage AdviserYou 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.0 -
You should have received a KFI (basically a quote on a 3-4 page document).
It will look similar to that with some extra bits on there, such as conditions of the mortgage - for example paying off a credit card if you have one and said it would be paid off on the application form.
Ahh ok, yeah we have a KFI but didnt agree to anything such as paying off credit cards before mortgage etc. So just an outline of how much we're borrowing etc.
When do i stipulate what date and Bank account I want to monthly payments to come out of?0 -
If your at offer stage i would have said before now.
It may have just been assumed you want the first.
If your mortgage is on daily interest then anything other than the first will result in it costing you more.I am a Mortgage AdviserYou 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.0 -
If your at offer stage i would have said before now.
It may have just been assumed you want the first.
If your mortgage is on daily interest then anything other than the first will result in it costing you more.
Well Valuation has been done and apparently ok, so im guessing I should hear from Broker just before they send out offer with a preferred date.0 -
I would probably speak to them before they issue the offer otherwise they may need to re-issue it.
Alternatively you could change it once its completed.I am a Mortgage AdviserYou 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.0
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