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Solicitor searches transferable?

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Morning!

FTB here.

Received DIP, had an offer accepted, found a solicitor, full mortgage application currently with underwriters. Valuation has come back fine. Now the EA is asking me to instruct my solicitors to order the searches, but I gather this is not normally done before the mortgage has been finalised, for obvious reasons.

My question for those more knowledgeable than me is...

If I pay the solicitors now and, for whatever reason, I end up taking out a mortgage with a different lender, would any searches performed still be valid, or are they linked in some way to the initial mortgage application? Apologies for the n00b question, I’ve done a bit of Googling but can’t find a clear answer to this particular issue.

Cheers

Comments

  • kingstreet
    kingstreet Posts: 39,254 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The mortgage and the searches aren't linked.

    You can wait until the mortgage offer is issued, reducing the potential for wasted cost, or you can proceed with the searches on the basis you wish to reduce the wasted time by doing these things consecutively.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Great stuff, thanks for the quick reply.

    I may order the searches now as I’m sure I’ll be able to get a mortgage (spotless credit, affordability not an issue).

    Potentially silly question alert number 2 – Credit search footprint issues aside, is there any particular reason, aside from the obvious hassle, not to apply for more than one mortgage concurrently?
  • shimano
    shimano Posts: 157 Forumite
    I always get my mortgage offer done first.

    EAs will always persuade you otherwise (as well as using their preferred solicitors etc etc), but if you are organised enough, it won't make much difference to the process.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    As long as your solicitor is on both the mortgage lender's panels then it should be fine.
    Changing the world, one sarcastic comment at a time.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    livesdial wrote: »
    not to apply for more than one mortgage concurrently?

    Lenders may be concerned by your activity. So you could end up with no mortgage at all.
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