FTB How to give offer for the selected property?

mazibee

Update: A lot happened on my sided since my last post.

Viewed one house, liked it, put a verbal offer of £340K, offer rejected, increased the offer verbally to £350k accepted next morning

EA asked for Driving license details for me and my spouse to do AML checks , all passed and was persuading to use their solicitors as vendors are also using them so the process will be quick, but I appointed my own. Ea also said once you give me solicitor details he will take the property off the market and cancel all furture viewings.

Gave details of the solicitors to the EA, updated the broker about all and asked him to proceed.( Gave him last months salary slips and bank statements)

EA also emailed asking do you want to book Home Buyers Survey through us? I replied back and asked to send me the quotation sand will decide.

Arranged another viewing of the house yesterday as all was done in a rush with my Uncle who owns a lot of houses and has better experience.

Electrics need doing as the property has the very old style dial electric meter and the most of the walls have wall paper on them.
Last evening received a message from Santander mortgage application.

How long it takes from receiving application to mortgage valuation survey?

Is it necessary to do a Home Buyers Survey or it will be done by the Santander during the valuation?

What are the timelines for Santander FTB applications?

If the survey report points out some serious works that need doing, price can be negotiated with the EA/ Vendor, If not agreed the can buyer pull out of the deal?

Sorry for asking so many questions.

Thanks in advance.

Mrs36

Santander are pretty quick in my experience. I've had two mortgages with them before.

They should ask if you want to book a mortgage valuation, or pay extra for them to do the homebuyers survey (they will charge extra for this).

You can try to renegotiate if something serious comes up, the vendor could accept or they could withdraw from the sale. It really depends on the individual vendor.

mazibee

I am filing in the documents sent by solicitors and found this point

3) Identity fraud and your property
Identity theft is now a major concern, which can lead to your property being fraudulently mortgaged,
transferred and even sold without your knowing. As your legal advisors, we recommend that to protect
you from fraudulent transactions being registered against your property, we enter onto your deeds a
requirement that transactions are not registered by HM Land Registry unless a Conveyancer, or
Solicitor, certifies the application was made by you.
This will not require any further documentation to be signed by you, and will be drafted in the legal
documentation we draw up on your behalf.
Please indicate by ticking one of the boxes below whether you require us to add this level of extra
protection to your property transaction. Please note we shall add a fee of £50 plus VAT to our legal
fees and HM Land Registry will make a charge of £20 (£40 for unregistered properties) but this will be
added to your final account at completion.
The restriction to be entered, for your information will be as follows:-
7.37 Form LL (Restriction as to evidence of execution)
“No disposition of the registered estate by the proprietor of the registered estate is to be registered
without a certificate signed by a conveyancer that that conveyancer is satisfied that the person who
executed the document submitted for registration as disponor is the same person as the proprietor.”

Any suggestions? Is it worth going for that?