Should we wait?

vwjo

Hi All - we are FTB'rs that have found a property that we like - our savings account currently has enough for the 5% deposit we were planning on, and we are still putting 1k per month aside, on the 20th of each month.

Question is, if we put in an offer for this house now, how long will the process take before we have to come up with the readies? Will we have enough time to have put enough aside for the stamp duty/fees etc?

We're all being told to move swiftly to arrange a mortgage in the current climate, and we would be gutted to lose out on this property........ (We already have a mortgage agreement in principle, but might want to go for a better deal).

Messy question I know, hope it makes sense?!

bigstevex

I was in the same boat, it took 3 months before we needed the readies

Just depends on how quickly the sellers want to move really, if you want it can all go through in a week if there's no chain that is!

vwjo

Thanks Steve, so did you have the readies um, ready in time? (And no, there's no chain, but we could do with it not going too quick!)