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5 weeks no news on buyer mortgage offer
Pendrive
Posts: 78 Forumite
Hi all - mortgage valuation survey for my buyers was carried out 16 June, but buyers' solicitors are saying they still await news of a mortgage offer. Survey was quick and seemed fine and the man carrying it out said it should take a few days for report to bank, and then about 4 working days for bank to get back to buyers. My house is empty, so no delays at all on my side.
Any advice on this situation? Buyers' solicitor doesn't seem at all forthcoming on providing explanations.
Any advice on this situation? Buyers' solicitor doesn't seem at all forthcoming on providing explanations.
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Comments
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Ours took 3 months to get their offer through - never did find out the reason but it was very frustrating.
Maybe get your EA to ask the buyer to call their broker (or if direct, the Bank).1 -
I am selling my house at the moment and everything does seem slower than it would normally be - I had to wait 5 weeks just for the survey/mortgage valuation to be carried out and it was another 3 weeks before I had the outcome of it.
It is worth chasing it up with the Estate agent to find out the reason for the delay.1 -
My mortgage offer took 2 days!
I'd suggest pressing the buyers a bit more on what's happening. They must have some sort of idea.1 -
Ours took seven weeks last summer. It was a very stressful time! Once it was through everything progressed quite quickly (until our buyer pulled out that is!) It was just lots of querying over my self employment income. Asking for documents etc, then it going to the bottom of the pile etc.Debt free Feb 2021 🎉1
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Thanks for the replies - I appreciate everyone taking the time to get back. it sounds like my situation is one that can happen, without necessarily meaning the sale is falling down. I've emailed the EA to ask them if they can ask the buyer to shed some light at this stage. Hopefully all will ultimately be well - appreciate the responses in the meantime.0
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I wouldn`t harass the buyer too much, they will also be stressed in case it is refused or a down-valuation or similar.1
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My survey/valuation was booked 2 weeks after mortgage offer subject to valuation and then quite literally the day after survey the lender sent me an offer. The survey came back after approx 4 days. So not all areas are running slow. I would chase
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