When to instruct solicitor/pay for searches

Loopyloopster

Just wondering at what point to pay for searches and instruct solicitor to start work that would incur a fee?

Basically we had an AIP with HSBC, but they then refused to give us a mortgage based on husbands work circumstances (locum GP so technically self-employed). Now going through a broker who has found an appropriate mortgage and had preliminary discussions with underwriter - looks like it should all go ahead, but application has just gone in and not approved yet.

Vendors pushing us to pay for searches and progress on legal side. We have solicitor appointed but don't really want to end up losing more money if the mortgage is declined. We are thinking of paying searches and starting legal stuff once mortgage is "approved subject to valuation" - does this sound reasonable?

Thanks

kiddakidda

If it was me (and others will say different)

I would obviously decide on my conveyancer and obtain costs but not instruct until I have a mortgage offer.

Once an offer is received, the majority of lending underwriting is done and barring any major property issues or your circumstances change, the money is relatively secure.

Good luck