Santander Query & Survey Query

Chyna81

Hi Everybody,

Where to start......

My mortgage offer was agreed a month ago and I have yet to receive the paperwork, after requesting a copy from my MA and going over it Santander did not have my apartment number just the name of my apartment hence the long wait:rotfl:

Santander are offering additional funds without further approval to pay the conveynor £750 which will be added to mortgage its only a couple of pounds extra per month, just wondering good idea or not.

I have received my structural survey back nothing to major just a steel lintel needed underneath one of the windows and corroded pipes side of property now are these things I can negotiate price on? I have been quoted £1500 for work to be done and at what stage can you negotiate price?

Thanks in advance.

spidereyes

Chyna81 wrote: »

Hi Everybody,

Where to start......

My mortgage offer was agreed a month ago and I have yet to receive the paperwork, after requesting a copy from my MA and going over it Santander did not have my apartment number just the name of my apartment hence the long wait:rotfl:

Santander are offering additional funds without further approval to pay the conveynor £750 which will be added to mortgage its only a couple of pounds extra per month, just wondering good idea or not.

I have received my structural survey back nothing to major just a steel lintel needed underneath one of the windows and corroded pipes side of property now are these things I can negotiate price on? I have been quoted £1500 for work to be done and at what stage can you negotiate price?

Thanks in advance.

In respect of the additional borrowing - can you afford to pay the solicitors fees out of your own pocket? If so then pay directly.
If you add it to the loan, yes it may only look like a few pounds a month, but this is a few pounds a month over the term of the loan, so you will be paying a hell of a lot more in the long term.

In regards to price - you can renegotiate anytime up to exchange BUT once your mortgage has been issued, any price reductions have to be reported to the lender, which can cause delays, may result in your ltv changing the amount they are willing to lend etc.

Chyna81

spidereyes wrote: »

In respect of the additional borrowing - can you afford to pay the solicitors fees out of your own pocket? If so then pay directly.
If you add it to the loan, yes it may only look like a few pounds a month, but this is a few pounds a month over the term of the loan, so you will be paying a hell of a lot more in the long term.

In regards to price - you can renegotiate anytime up to exchange BUT once your mortgage has been issued, any price reductions have to be reported to the lender, which can cause delays, may result in your ltv changing the amount they are willing to lend etc.

The way you have explained it I think it's best I just pay it as I can afford to, I was thinking a little bit of extra money in my pocket however costs in long run will far exceed it.

Yes that's my concern about renegotiating price delays in mortgage and I just want to get it wrapped up now, will have to think about this one, decisions decisions.