What should I be doing to avoid my mortgage holding up the process?

karcady

I put in an offer on a house today and had it accepted. I'm fairly relaxed about timescales (currently renting) but my sellers are hoping to complete in early November (which I sense is optimistic at the moment!) and I'd like to make sure I'm doing things as efficiently as possible and not getting constantly chased by the estate agent if I can avoid it.

I have a decision in principle with L&C, filled in the rest of the form this afternoon after my offer was accepted, and got a reply to say they're experiencing high demand and will get back to me in about 4 days. Should I just wait for this and expect them to be fine, or are they likely to be overloaded/a bottleneck and I should find a direct mortgage deal?

I think I'm a fairly straightforward case - I've never been furloughed, my partner's off furlough, decent credit score, and we have a large non-gifted deposit so are at something like a 65% LTV (obviously that might change a bit if the valuation comes in low), so I feel like I could find a sensible deal direct - although I guess I then risk picking a slow lender!

FTB_1991

I don’t feel like you are that behind so maybe just wait. There are huge queues with lenders at the moment but I think unless you have spoken to a broker /lender and started your process, it may be premature to start the rest. Having said that we had a massive gap with applying for our mortgage as we were 90% LTV so I did start conveyancing in the background...