Best time of month to apply for mortgage

lm1981

I am in process of applying , is it worth holding off till Tuesday as it will be start of September and maybe some deals will change?

also I am waiting on a full building survey to come back which is due next week , I wanted this back first before officially applying - is that wise (or indifferent)?

when applying for mortgage and there are product fees etc at what stage do you have to start paying? Is it at time of application or further in the process - I am hoping that I can apply and have it all approved during September...does this sound reasonable?

thank you 

dimbo61

Get on the phone/online first thing Tuesday morning.
Have you looked at deals available now with your bank ? ISA provider ?comparison websites ?
Are you using a mortgage broker ?
Why have you not got an AIP sorted when spending hundreds of pounds on a survey.
Cart before horse comes to mind.
Can you afford the property you have just had the survey on !

lm1981

I have a mortgage in principle which is valid for the next few weeks but I haven’t picked a deal yet. I was waiting on survey to come back as wanted to know how much to put down for deposit in case it needed any urgent work etc - have I got this wrong way around ?

thank you for your information 

MaryNB

I applied for my mortgage as soon as I had my offer accepted. Given how cautious lenders are being, I was under pressure from the EA and vendor to get it sorted asap. Surveyors in my area seem to be very busy and there's a fairly long wait so I wouldn't be waiting until then. It's common for people to renegotiate after they've had their offer if the survey comes back and throws up something of concern. Just need to go back to the lender with the new price.

It's good to get your mortgage offer sorted asap, especially if your credit history isn't perfect or something about your application isn't that straightforward. You might need time to sort out extra docs if the lender asks for more info or maybe go with another lender if the first one doesn't work out. Even if there are no credit history issues, some lenders are taking a long time to get through the application process. 

Regarding the fee, I went with Halifax and paid the fee once they had pretty much done everything on my application (took less than 2 days), except the valuation.  However, they said I could pay it later down the line if I wanted and it's fully refundable if the sale falls through.