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FTB close to exchange
Jmbrown4150
Posts: 8 Forumite
Hi all,
The time is near for exchange and completion, the final bits are being done to the contracts and we will be exchanging either tomorrow or Wednesday.
I have a question regarding the mortgage. My mortgage went through really quickly , I think I applied Wednesday, valuation was on Friday and the application was approved on Monday. I received my formal mortgage offer documentation for the full amount from HSBC and was told I didn’t need to sign / do anything.
My question is, do they do extensive tests when we exchange and before completion? Obviously my credit rating took a dive from the hard credit check, also recently took out a phone contract.
None of my debt has increased, never failed repayments, ( green on everything apart from recent searches )
Anxious as hell!
BW
Justin
The time is near for exchange and completion, the final bits are being done to the contracts and we will be exchanging either tomorrow or Wednesday.
I have a question regarding the mortgage. My mortgage went through really quickly , I think I applied Wednesday, valuation was on Friday and the application was approved on Monday. I received my formal mortgage offer documentation for the full amount from HSBC and was told I didn’t need to sign / do anything.
My question is, do they do extensive tests when we exchange and before completion? Obviously my credit rating took a dive from the hard credit check, also recently took out a phone contract.
None of my debt has increased, never failed repayments, ( green on everything apart from recent searches )
Anxious as hell!
BW
Justin
0
Comments
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You have your mortgage offer, everything is fine - relax and enjoy your new home.Started out with nothing, still got most of it left.0
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All fine.
But don’t take out any further credit until after you have completed.I am a Mortgage AdviserYou 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.0
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