AIP - London & Country

Noel

Please help my partner and I have had an offer excepted on a property.

We are currently using London & Country who have found a mortgage for us and the application is going through. Our issue is that the agreement in principal which was given to us did not show the mortgage company or mortgage amount. We took this into the estate agents and was told this was not sufficient due to these details being missing.

L&C spoke to them to say that we had the agreement in principal but they could not produce the hard copy of it, the estate agents were not pleased with this but have taken their word that we have the AIP in place. The Estate Agents have now told us that as we do not have a copy of the AIP we must sort the valuation out by Tuesday this week or they would put the property back on the market. :mad:

We have now been left limbo as we are waiting for L&C to send an email regarding the personal details needed to complete the application.

Any advice is needed as the stress is building. :huh:

Cardinal-Red

So what does your AIP state exactly if it's not how much you've been provisionally approved for?

Noel

it shows we have been credit checked and approved for a mortgage but the lender is showing as unconfirmed (even though we have been given the lenders details) and the amount is showing as £0.00

Noel

Sorry, just bumping this for potential advice.

UK007BullDog

Ask L&C to call your estate agent to confirm your mortgage is being processed. OK just reread they did already.

Are you a FTB?

What is the purchase price? Your deposit?
Your yearly income before tax?

The estate agent is playing hard ball. have a word with the seller to let them know you are arranging a mortgage. The estate agent cannot force a survey to a specific date. The lender will send out the surveyor when they have done their initial checks.

Which lender is this you are using?

alexandlee

Call your estate agent and tell him to call your L+C consultant if he is unhappy about the AIP. L+C won't give any personal financial info out about you but can give reassurance to the estate agent that you're genuine purchasers

UK007BullDog

They have already done that but the EA is hardballing.

maybe call the EA bluff and tell him you are going elsewhere to buy a property. Buyers are hard to find right now.....

Noel

UK007BullDog wrote: »

Are you a FTB?

Which lender is this you are using?

Yes we are first time buyers and our lender is Futures.

Do you think then that i should not worry about the AIP as our mortgage advisor has spoken with the EA to confirm our financial status. Or should I now push the advisor to amend the AIP even though I dont believe they will.

We have been told that they must have the AIP or an appointment for the surveyor to look at the property by Tuesday or the property will go back on the market, this is a worry as although there are not too many buyers right now, we believe this house will be snapped up.

Also is it correct to call the seller regarding the sale as this may cause bad feelings between the agent and ourselves.

MortgageMamma

this is quite typical of London and Country. There is no point being secretive about who a lender is and how much a client may borrow either to the client or the estate agent. There is a lot to be said for using a local broker - as your application is in it shouldnt be long before your valuation is instructed so I wouldnt worry too much.

Mortgageman

Hi Noel,

It sounds like the estate agent is being a bit unreasonable here - if you want me to get someone to call him then feel free to contact me (either by pm, or by posting on this thread).

We have no problem with sharing the lender we recommend with estate agents / clients.

Noel

Mortgageman wrote: »

Hi Noel,

It sounds like the estate agent is being a bit unreasonable here - if you want me to get someone to call him then feel free to contact me (either by pm, or by posting on this thread).

We have no problem with sharing the lender we recommend with estate agents / clients.

Please find PM Posted