We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
West One Secured Loans
Dizzbee
Posts: 13 Forumite
Hello,
I have won a fantastic house at auction and an waiting on a mortgage offer from West one. Anyone had any experience with them at all.
I am quite nervous - if I don't get the offer I lose my 9k auction fees 😫
I have won a fantastic house at auction and an waiting on a mortgage offer from West one. Anyone had any experience with them at all.
I am quite nervous - if I don't get the offer I lose my 9k auction fees 😫
0
Comments
-
Never ever heard of them.0
-
Why don’t you go to a mortgage broker? I wouldn’t be waiting on one minor mortgage lender if I was under pressure!I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
-
@silvercar I did - they suggested west one0
-
I was told you couldn't apply for another mortgage whilst you have a live pending application.0
-
So I have also applied with simply lending. I have beem waiting for an update from the lenders as they have all my documents.0
-
May I ask, how long till you got your mortgage offer.0
-
Did you discuss this with the broker before bidding on the house?
If you are going to west one, it suggests your options are limited. To have limited options on an auction property, your making some gamble there. What happens if the valuation comes back lower? What happens if there is a problem with the valuation?
I am afraid I cant offer any advice with regards to west one, our account manager keeps badgering me to use them but I have not got round to it. It will be interesting to hear what they are like. If they are anything like our account manager I am sure they will be fine.
I am a Mortgage AdviserYou 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.1 -
Well the house is roughly valued at 300k - there was no one else bidding so I secured it for £175 k !!
So far the sellers have been reasonable and I have to complete in January. I am hoping I will get an offer soon.
0 -
Is that what the contract says? Normally you need to complete in 21 or 28 days from memory. Its been a while.
The low valuation could be a bargain, but it could be that others have spotted something you have not which is why they never bid. Even if the valuation is ok, something could crop up on the legals.
I dont want to worry you, that doesnt help anyone. I normally take the view that if there are problems we will deal with them as and when they come. But there is so much that could go wrong, west one are just the first hurdle.I am a Mortgage AdviserYou 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.0 -
I have 56 days to complete.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.7K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 452.9K Spending & Discounts
- 242.7K Work, Benefits & Business
- 619.4K Mortgages, Homes & Bills
- 176.3K Life & Family
- 255.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards