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Agent wants to " substantiate" our offer before he puts it to vendor?
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We went through L&C for our mortgage and I don't remember receiving any documentation from the mortgage lenders until we got as far as surveys.
I've just gone back through my e-mail, and our decision in principle definitely came from L&C. It says:
"In assessing how much you could borrow, we use the affordability calculators of a number of major mortgage lenders."Mortgage when started: £330,995
“Two possibilities exist: either we are alone in the Universe or we are not. Both are equally terrifying.” Arthur C. Clarke0 -
That is not a decision in principle. It is not even a decision - it is just an affordability assessment.LannieDuck wrote: »We went through L&C for our mortgage and I don't remember receiving any documentation from the mortgage lenders until we got as far as surveys.
I've just gone back through my e-mail, and our decision in principle definitely came from L&C. It says:
"In assessing how much you could borrow, we use the affordability calculators of a number of major mortgage lenders."0 -
Just get a DIP online - email it over.
10 mins job done.0 -
DandelionPatrol wrote: »That is not a decision in principle. It is not even a decision - it is just an affordability assessment.
It worked for us. Estate agents were fine with it.Mortgage when started: £330,995
“Two possibilities exist: either we are alone in the Universe or we are not. Both are equally terrifying.” Arthur C. Clarke0 -
That's because there's no obligation on estate agents to do anything more than just take your word for it you have the money. The EA in question here however is talking about DIPs.0
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