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Buyer applying for a mortgage at the last minute.
RockOnZombies
Posts: 63 Forumite
Has anyone come across this?
We had a buyer for ours and found somewhere to go all no issues with searches and mortgages. Then the first buyer in the chain i.e. for the property below ours, decides at the last minute to apply for a mortgage after offering to buy for cash after going quiet for 2 weeks, the valuation has been done so we've been told. It's holding the chain up as everyone has been ready to go for nearly a month.
Does anyone know roughly how long things are taking? We don't know who've they applied to and its causing worry and stress for all of us.
We had a buyer for ours and found somewhere to go all no issues with searches and mortgages. Then the first buyer in the chain i.e. for the property below ours, decides at the last minute to apply for a mortgage after offering to buy for cash after going quiet for 2 weeks, the valuation has been done so we've been told. It's holding the chain up as everyone has been ready to go for nearly a month.
Does anyone know roughly how long things are taking? We don't know who've they applied to and its causing worry and stress for all of us.
1
Comments
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@RockOnZombies How long is a piece of string?
Every lender differs in their service levels and the type of applicant. I've had offers back in less than 3 days post application, others have dragged on for 8-12 weeks now with no end in sight. Unfortunately it is pretty much futile to guess at a figure.I hope it comes through quick!I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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