Entering a property chain when pregnant

fortounii

We are expecting a baby in just over 4 months, and when we found out we decided to also buy a house as it is more affordable than renting in London. We had our offer agreed on a flat only to later pull out due to major structural issues with the roof. This has set us back a couple months and we are now back on the hunt for a new property, with a mortgage agreement due to expire in just under 6 months. The sooner the better for our move time, and we have found a property likely to accept our offer. After the initial delay and months of searching, it does feel like we've found the perfect first property. However this flat is in a chain and I am apprehensive to get involved if we have a number of time constraints on us - pregnancy, mortgage expiration, Brexit. Is it too much a risk, or is it clever to keep looking with the remaining time we have to seal a deal with a non-chain property?

Davesnave

Alvin Hall, the famous investor, once advised: "Buy when others are fearful."


Mind you, he wasn't pregnant at that time.

csgohan4

your mortgage is likely a an agreement in principle and is not an indication of confirmation, just what a lender could lend to you.

Only on application will there be more formal check to take into account current job salary future changes e.t.c

fortounii

Hey csgohan4 - we have applied and were granted the mortgage due to our previous arrangement with the property we initially put an offer on. Our broker has informed us that we can use the same rate and contract for the new property by simply changing the address and potentially the rate slightly if we end up agreeing a higher price.