Move to temporary address before mortgage application... help!
in Mortgages & endowments
10 replies 245 views
Due to a separation my house is sold and completion is likely to be the middle of February. Once the sale completes my 2 children and myself will move to my mum's.
I am looking to buy a shared ownership property nearby and have been told these are being released soon, likely within a month of my sale completing, however the estate agent cannot give me an exact date. I have the finance figures for the shared ownership and have applied and received a mortgage in principle.
I will update my driving license, bank statements and the electoral roll as soon as I move, along with everything else. However, I'm very worried about the impact moving so close to applying might have on my full mortgage application, especially if the electoral roll hasn't updated the credit reference agencies before I submit.
I will have to be quick with applying for the shared ownership property as it's first come first served, so I can't even wait around to let everything update first if the new homes are released within a week or so of my move, and it's usually 28 days to exchange with shared ownership.
Has anyone been in a similar situation before? Any advice would be greatly appreciated. I've waited so long to get to this point, I will be devastated to miss out on securing one of the shared ownership homes. Is there anything I can do?
Thank you in advance.
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