Buyers waiting for mortgage offer

LEJC

A mortgage offer does not usually take long to come through once it is agreed.

I suspect that your buyers may still be trying to get a provider to offer them a mortgage.

The last 3 mortgages we have applied for have been screened,interviewed and a mortgage offer letter issued within 3 weeks.

two months is too long....to still be at the stage you are with no movement forward.

ellectrastar

Okay, maybe six weeks was an exaggeration (it was a while ago!), but it was a damn sight quicker than this!

I think Purple Bricks do tend to send you on your way once a sale's agreed, but do advise that they're there til the end. After all, if the sale falls through they have to remarket it again. Having never sold a property before it is probably my own undoing in trusting that everything was going ok. I emailed the agent yesterday and asked them to investigate what exactly is going on.

I can contact the buyers directly through the PB messaging system but to be honest don't think it's a good idea. At the start of the process they buyer kept asking if I had any news. We'd done everything we had to so advised them to check with their solicitor. I don't want to get in a dialogue with them as it leads to silly questions and puts me at even more unease than I am now!

It's annoying as they indicated they'd like to move in Oct 31st. As we had agreed to go to rented we went with this and put this in as a date on the paperwork, then found the place we were going to would not be available until the middle of Nov. I advised the solicitor who passed the info on and we have had to make a commitment to this. We have done everything we can to accommodate them and it seems like they aren't that bothered about even buying the place now!

It's all very frustrating...

Crashy_Time

Find another buyer.

Hutch100uk

When I accepted an offer on my property, the EA wouldn't take it off the market until they had received the mortgage offer.

Why has this not been the case with you?

hazyjo

Hutch100uk wrote: »

When I accepted an offer on my property, the EA wouldn't take it off the market until they had received the mortgage offer.

Why has this not been the case with you?

While some do, that's not common. Usually it's enough to have a complete chain beneath you. Occasionally they will insist you have instructed solicitors or applied for a survey/mortgage, but to get the actual mortgage offer is a fair way down the line after the buyer has spent lots of money already. I wouldn't accept those terms.

Surrey_EA

Hutch100uk wrote: »

When I accepted an offer on my property, the EA wouldn't take it off the market until they had received the mortgage offer.

Why has this not been the case with you?

That is terrifically rare, are you sure you don't mean the EAs would not take the property off the market until an AIP/DIP had been provided?

In my experience most buyers would be unhappy to go through the time and expense of a mortgage application, where they may also wish to have a survey in addition to the valuation carried out by the same surveyor, whilst the property was still being actively marketed.

m0bov

I would normally expect a survey from the lender to be booked within a few weeks.