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How long does it take a FTB to get their mortgage and searches done?
Comments
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We have been told our buyers finally has their mortgage offer :T, all the searches were back ages ago and the solicitors were apparently just waiting on the offer so fingers crossed we will be exchanging very soon & finally moving!
Samba - we have been the same, been so fed up & worrying that they wouldn't get the offer or pull out ,like the last lot of buyers!
I'm now having a fight with our developers trying to get snagging done! Be glad when it is all over0 -
Got a message from the buyers over the weekend saying that they need to provide another document to their mortgage provider, despite the survey being done weeks ago.
Is is normal for mortgage companies to request more documentation after performing a valuation? Seems odd to me, and I'm struggling to work out what's going on. Clearly the best thing is to ask them what's going on, but I've tried that and they keep replying with positive answers with absolutely no content,just vagueness - I think they would make good politicians.0 -
Got a message from the buyers over the weekend saying that they need to provide another document to their mortgage provider, despite the survey being done weeks ago.
Is is normal for mortgage companies to request more documentation after performing a valuation? Seems odd to me, and I'm struggling to work out what's going on. Clearly the best thing is to ask them what's going on, but I've tried that and they keep replying with positive answers with absolutely no content,just vagueness - I think they would make good politicians.
Completely normal ...we had the same our building society (nationwide) were playing silly beggars insisting we provide monthly statements for a bank account ..which had quarterly statements. This was well after the survey had been accepted by them and us. Survey was instructed as part of the process before the formal offer was issued.Spelling courtesy of the whims of auto correct...
Pet Peeves.... queues, vain people and hypocrites ..not necessarily in that order.0 -
martin1959 wrote: »The moral of this story, which I told sellers time and time again.....
Do not take you property off the market until the 'purchaser' has a survey carried out, as this is the first point they put their money where their mouth is....
If you make this clear to the buyer, and they are serious, they can get a survey done within a week, especially currently as surveyors do not have a great deal of work on......
This is the problem with the system though. Vendor not willing to trust buyer till money has been spent. Buyer not willing to trust vendor till house is off the market.
In my experience the vendor has always been at fault in every let down we have had. We were led to believe FTB were useless and put in offers and drop out so we have always been committed when offering and arranged solicitors as soon as offer accepted. I am confident (we are borrowing well below limit) that once we do find a vendor who does actually want to sell it will be done quickly as possible. I actually chase up payments for a living so I am always on the ball.
Hope you get sorted soon op0 -
Getting totally fed up with this.
Latest update (via EA) is that they need an updated P60 as one of the buyers has had a payrise and the tax code is wrong. This makes no sense at all, and I think someone doesn't know what they're talking about.
I hope they are not waiting for the next P60, as that may not be before 31 May, or perhaps they are waiting for the next payslip? Why don't they just get a letter from their employer?
What makes it worse is that they are using a mortgage broker - shouldn't he/she have sorted all this out beforehand?0 -
I wouldn't get too worked up about it. I'm using a broker and have had to submit the same P60 twice which delayed things.
Documents seem to get lost or overlooked, then you have to wait for someone to get around to your application again.0 -
For some reason brokers always seem to manage all the docs better than the lender!0
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I thought the whole point of using a broker was to get all the documents sorted *before* submitting them to the lender.0
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