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Length of Mortgage Offer / When to Apply
19lottie82
Posts: 6,031 Forumite
I will be looking for a mortgage shortly in order to buy a house. I have it in my head that most mortgage offers are valid for 3 months, is this correct?
I am not certain I will find a property in the area I require in that time scale. If I don't and the offer expires, will I need to complete the application again?
OR would I be better to wait until I find somewhere I would like to buy THEN apply for a mortgage?
Thank you
Lottie:)
I am not certain I will find a property in the area I require in that time scale. If I don't and the offer expires, will I need to complete the application again?
OR would I be better to wait until I find somewhere I would like to buy THEN apply for a mortgage?
Thank you
Lottie:)
0
Comments
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A mortgage is a loan secured against a property, you can't get a mortgage before finding the property.0
-
Thanks Lucie_1985...........
Sorry, I guess what I really meant was an agreement in principle?0 -
I'd still leave it to find a property first, AIPs can leave hard searches on your record so you don't necessarily want to be doing it multiple times.0
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