Big step toward home ownership!

ConsistentlyLost

Hi folks! 
I had my offer accepted on a property a week ago and it has been a crazy week since.
I'm up to the point where my mortgage broker has secured me a mortgage and the solicitor is on the case. Because I'm going away on holiday next week I didn't delay in filling in forms and sending over documents to my mortgage broker and solicitor. I provided Id and evidence of deposit by the end of yesterday and to my knowledge that's it from my end for the time being. Estate agent, mortgage broker and solicitor are aware I'm away next week so hopefully that's all good but I'm curious as to what's next. I haven't been asked as to what survey I want them to conduct because I believe there's a few options depending on the size of the property? 
My mortgage broker says I should complete before Christmas but possibly even sooner! The only thing I'm paranoid about is my credit report, it should be fine but I haven't been using my credit card much for the last year and a half and for the first time didn't use it at all last month! I was going to start using it again now thinking that I should, I have a direct debit to take care of paying it off but perhaps I should clear the card the moment I spend on it?
Sorry for the ramble but I'm so excited and nervous lol. Any feedback back from you guys would be great
Tia

p00hsticks

ConsistentlyLost said:

My mortgage broker says I should complete before Christmas but possibly even sooner!

It's exciting , but I wouldn't bank on being in for Christmas.
Are your sellers needing an onward purchase ?  

MultiFuelBurner

From.what we read here regularly and from.our own purchases through the years

12-16 weeks for a freehold property
16-32 weeks for a leasehold property

That said if the news is to be believed house sales are down so solicitors should have less work so timescales could be shortened.

Congratulations btw

lookstraightahead

ConsistentlyLost said:

Hi folks! 
I had my offer accepted on a property a week ago and it has been a crazy week since.
I'm up to the point where my mortgage broker has secured me a mortgage and the solicitor is on the case. Because I'm going away on holiday next week I didn't delay in filling in forms and sending over documents to my mortgage broker and solicitor. I provided Id and evidence of deposit by the end of yesterday and to my knowledge that's it from my end for the time being. Estate agent, mortgage broker and solicitor are aware I'm away next week so hopefully that's all good but I'm curious as to what's next. I haven't been asked as to what survey I want them to conduct because I believe there's a few options depending on the size of the property? 
My mortgage broker says I should complete before Christmas but possibly even sooner! The only thing I'm paranoid about is my credit report, it should be fine but I haven't been using my credit card much for the last year and a half and for the first time didn't use it at all last month! I was going to start using it again now thinking that I should, I have a direct debit to take care of paying it off but perhaps I should clear the card the moment I spend on it?
Sorry for the ramble but I'm so excited and nervous lol. Any feedback back from you guys would be great
Tia

I wouldn't use your credit card and keep your finances in check.
hooe it all goes smoothly. What's the situation with the current owners? Ample time to get in by Christmas so long as the present owners don't dilly dally - check out what their plan is.

ConsistentlyLost

p00hsticks said:

ConsistentlyLost said:

My mortgage broker says I should complete before Christmas but possibly even sooner!

It's exciting , but I wouldn't bank on being in for Christmas.
Are your sellers needing an onward purchase ?  

No they're not buying a property and one of the reasons they decided to go with my offer is because I'm a first time buyer. 

ConsistentlyLost

MultiFuelBurner said:

From.what we read here regularly and from.our own purchases through the years

12-16 weeks for a freehold property
16-32 weeks for a leasehold property

That said if the news is to be believed house sales are down so solicitors should have less work so timescales could be shortened.

Congratulations btw

That would be good! If completion is by Christmas I shall be very pleased.

ConsistentlyLost

lookstraightahead said:

ConsistentlyLost said:

Hi folks! 
I had my offer accepted on a property a week ago and it has been a crazy week since.
I'm up to the point where my mortgage broker has secured me a mortgage and the solicitor is on the case. Because I'm going away on holiday next week I didn't delay in filling in forms and sending over documents to my mortgage broker and solicitor. I provided Id and evidence of deposit by the end of yesterday and to my knowledge that's it from my end for the time being. Estate agent, mortgage broker and solicitor are aware I'm away next week so hopefully that's all good but I'm curious as to what's next. I haven't been asked as to what survey I want them to conduct because I believe there's a few options depending on the size of the property? 
My mortgage broker says I should complete before Christmas but possibly even sooner! The only thing I'm paranoid about is my credit report, it should be fine but I haven't been using my credit card much for the last year and a half and for the first time didn't use it at all last month! I was going to start using it again now thinking that I should, I have a direct debit to take care of paying it off but perhaps I should clear the card the moment I spend on it?
Sorry for the ramble but I'm so excited and nervous lol. Any feedback back from you guys would be great
Tia

I wouldn't use your credit card and keep your finances in check.
hooe it all goes smoothly. What's the situation with the current owners? Ample time to get in by Christmas so long as the present owners don't dilly dally - check out what their plan is.

I hear so many conflicting views on credit card usage. I know the general thought is to keep the utilisation below 30% and mine has been well below that, a matter of a few pounds a month as I've been using my chase debit card for all of my spending. I've just been spending something on the credit card to keep it ticking over and I asked a financial expert and my mortgage broker what to do and they said not using it for a month or two is okay but it's a good idea to keep using it.
Another mortgage broker said not to use it when close to a house purchase so I'm very unsure lol. 
Is it something a mortgage can get rejected for?

BobT36

ConsistentlyLost said:

lookstraightahead said:

ConsistentlyLost said:

Hi folks! 
I had my offer accepted on a property a week ago and it has been a crazy week since.
I'm up to the point where my mortgage broker has secured me a mortgage and the solicitor is on the case. Because I'm going away on holiday next week I didn't delay in filling in forms and sending over documents to my mortgage broker and solicitor. I provided Id and evidence of deposit by the end of yesterday and to my knowledge that's it from my end for the time being. Estate agent, mortgage broker and solicitor are aware I'm away next week so hopefully that's all good but I'm curious as to what's next. I haven't been asked as to what survey I want them to conduct because I believe there's a few options depending on the size of the property? 
My mortgage broker says I should complete before Christmas but possibly even sooner! The only thing I'm paranoid about is my credit report, it should be fine but I haven't been using my credit card much for the last year and a half and for the first time didn't use it at all last month! I was going to start using it again now thinking that I should, I have a direct debit to take care of paying it off but perhaps I should clear the card the moment I spend on it?
Sorry for the ramble but I'm so excited and nervous lol. Any feedback back from you guys would be great
Tia

I wouldn't use your credit card and keep your finances in check.
hooe it all goes smoothly. What's the situation with the current owners? Ample time to get in by Christmas so long as the present owners don't dilly dally - check out what their plan is.

I hear so many conflicting views on credit card usage. I know the general thought is to keep the utilisation below 30% and mine has been well below that, a matter of a few pounds a month as I've been using my chase debit card for all of my spending. I've just been spending something on the credit card to keep it ticking over and I asked a financial expert and my mortgage broker what to do and they said not using it for a month or two is okay but it's a good idea to keep using it.
Another mortgage broker said not to use it when close to a house purchase so I'm very unsure lol. 
Is it something a mortgage can get rejected for?

Just make sure you pay off the balance by the next statement time (so you don't pay interest). 
Otherwise, don't worry about it! 

RHemmings

@ConsistentlyLost

Many congratulations for your offer being accepted. I hope it all goes quickly for you. 

I'm similar to you in some ways, but behind you in the process. I hope you will be keeping us informed about your progress. E.g. in the waiting to exchange thread or elsewhere.