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Question re "unsuitable security"
Comments
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Update
Mortgage has been approved. Timeline of the process for us (below) we used Habito as the broker and there service was excellent.
2018
November
- 25 Made an offer
- 26 Negotiating
- 27 Offer accepted
- 29 Started mortgage process
- 30 Mortgage application submitted
December
- 4 Valuation instructed
- 6 Passed initial vetting
- 10 Application approved pending valuation
- 12 Valuation booked
- 19 Valuation performed
- 28 Property is unsuitable security
2019
January
- 2 Started looking for a new lender
- 2 Found new lender
- 2 New application submitted
- 4 Lender requested more info
- 8 Application approved pending valuation
- 8 Valuation booked
- 10 Valuation performed
- 11 Mortgage approved
Mortgage difference:
The difference in the interest rate between the two is .11% the original offer was .34% the new offer is .45%0
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