We really can't afford the house we want/need will things get better for us or just forget it?

MaryNB

mrsmortgage said:

MaryNB said:

mrsmortgage said:

and now because part of the deposit was gifted from my mum with an overseas account we might need extra documentation that will be impossible to get as she flies over here in the next couple of days. 

If it's as simple as bank statements just get her to print off a few months worth and bring them with her, if she doesn't have online banking. Generally ID and bank statements is enough. If she got a lump sum amount recently they'll need proof of that. If that's the case she should bring that information.  Have you got a solicitor instructed? Ask them to confirm the required docs asap.
She should definitely print off as much as she can, a solicitor will check any gifted money, especially coming from overseas. 

No, she has no idea about online banking, She's got an investment statement from April, but that's it? If they want it formally translated / notarised that's going to be an issue too. 

I'm sure you could find a translation service over here - another requirement to check with your solicitor.

Discuss in full with your solicitor before your mother leaves. They may also want things like bank statements showing the money being transferred from her investment account to your account.  If they ask for documents and she can't provide them there's a good chance they won't accept the funds from her. Different solicitors have different ways of doing the checks, some ask for more detail then others. The only way to be sure is to ask your solicitor. Also confirm what format they have to be sent in - e.g. scanned and emailed or hard copy by post (this caught me out a few times).

mrsmortgage

Solicitor says it's no problem, just waiting for whatever TSB requests. 

mrsmortgage

and we've passed the first mortgage hurdle, hooray! 

lookstraightahead

Ah hello mrsmortgage! What's the update? 

mrsmortgage

We've passed all the affordability criteria, so now it's just a matter to pass the valuation  

mrsmortgage

And now the sellers won't draft contracts until they've found somewhere to go. expected, but I'm assuming this will have a chain effect. If we give them a month that would be two months wait for our buyer to wait to get the ball rolling. 

mrsmortgage

And we've got our mortgage offer! buyer on the other hand  still hasn't been able to secure it 

Ramouth

mrsmortgage said:

And we've got our mortgage offer! buyer on the other hand  still hasn't been able to secure it 

How frustrating!  Have they told you why?  I.e. is it a problem with the valuation of the house or their finances?  At least it stops them pressuring you if your sellers are still looking for something to buy!

mrsmortgage

Ramouth said:

mrsmortgage said:

And we've got our mortgage offer! buyer on the other hand  still hasn't been able to secure it 

How frustrating!  Have they told you why?  I.e. is it a problem with the valuation of the house or their finances?  At least it stops them pressuring you if your sellers are still looking for something to buy!

Well actually there's even more updates.... The sale is now OK to go through, but my vendors haven't sent anything even though they said they'll just move to rental accommodation. 

lookstraightahead

mrsmortgage said:

Ramouth said:

mrsmortgage said:

And we've got our mortgage offer! buyer on the other hand  still hasn't been able to secure it 

How frustrating!  Have they told you why?  I.e. is it a problem with the valuation of the house or their finances?  At least it stops them pressuring you if your sellers are still looking for something to buy!

Well actually there's even more updates.... The sale is now OK to go through, but my vendors haven't sent anything even though they said they'll just move to rental accommodation. 

Well I remember a long time ago you said you wouldn't even consider doing that yourself, so just beware that they may change their mind right up to exchange.