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Speeding up house purchase
peterc2609
Posts: 622 Forumite
Hi There...
After my posts a few weeks ago, I ended up getting my 2nd year accounts done, in order to get a mortgage accepted.
My broker got me one with Mortgage Express. I had it in principle before they withdrew their products over 85% ... so 5.89% 3 yr fixed. (95%)
It all got submitted online on Thursday afternoon. The broker sent me a load of forms to sign, which he got back today.
I agreed a price of 140k for a house that was up for just under 160k. No upper chain, and I have no chain (I rent at the moment). So NO CHAIN at all!
How can I speed things up? I'm desperate to get it done asap as is the vendor.
I've paid for the home buyers report survey, but not been sorted yet. I'm going with the estate agent recommended solicitor (quite reasonable at around £600).
What can I do now?
After my posts a few weeks ago, I ended up getting my 2nd year accounts done, in order to get a mortgage accepted.
My broker got me one with Mortgage Express. I had it in principle before they withdrew their products over 85% ... so 5.89% 3 yr fixed. (95%)
It all got submitted online on Thursday afternoon. The broker sent me a load of forms to sign, which he got back today.
I agreed a price of 140k for a house that was up for just under 160k. No upper chain, and I have no chain (I rent at the moment). So NO CHAIN at all!
How can I speed things up? I'm desperate to get it done asap as is the vendor.
I've paid for the home buyers report survey, but not been sorted yet. I'm going with the estate agent recommended solicitor (quite reasonable at around £600).
What can I do now?
0
Comments
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Keep chasing all parties every day, it can be done very quickly, search back through some of my earlier posts and read up about my sale and purchase in may last year.
good luck0 -
Can you link me to the topic? There are 12 pages of past posts you see!!!
How long generally before the mortgage company (mortgage express) formally agree to the mortgage?0 -
I agree with Pickles. Chase people every day. Ask them what they're waiting for and if there is anything you can do to help.
Get them to chase each other. E.g. get solicitor to chase estate agent. Get estate agent to chase other side's solicitor.0 -
Do I need to wait for mortgage first??
The broker said that could take 2 weeks?0 -
Does the property have a HIP? That may well speed the legal side up. Find out if your lender will accept the searches contained within the HIP (assuming there is one). If they don't, you will need to apply for searches. Your solicitor should be able to tell you about this.0
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peterc2609,
I instructed my solicitor and spoke to my mortgage broker within 24 hours of having my offer accepted, as I already had an agreement in principle for the mortgage. As you have one of these too, I would just get on with it. I rang solicitor, broker, estate agent (in that order) every 2-3 days (sometimes more, sometimes a little less) to check that they had all the information they needed from me and to ask them if any of the others were slowing the process and needed some extra pressure from me.0 -
Yes it has a HIP. Which I have a copy of. Will send to broker now.0
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No, don't wait for anything.peterc2609 wrote: »Do I need to wait for mortgage first???
It's in your hands. If you want to move quickly then chase everyone to ensure they're doing what they should. If on chasing they all say they are waiting for the mortgage then fair enough. But you could always chase the mortgage company!0 -
See, I'm not sure what I'm waiting on from the mortgage company...
My broker sent across my 2 years of accounts etc and said "If I submit these, will you accept them?" They said yeah to the amount I needed. So he submitted on Thurs after I had the offer accepted.
So is it all go????0 -
peterc2609 wrote: »Yes it has a HIP. Which I have a copy of. Will send to broker now.
Send it to your solicitor, they will need to check its contents, not your broker.0
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