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  • FIRST POST
    • hufc2002
    • By hufc2002 4th Jan 18, 8:46 PM
    • 252Posts
    • 24Thanks
    hufc2002
    About to put house on market - when do I apply for a mortgage
    • #1
    • 4th Jan 18, 8:46 PM
    About to put house on market - when do I apply for a mortgage 4th Jan 18 at 8:46 PM
    Hi all

    Bit of advice please.

    We are about to instruct an EA to put our house on the market therefore my next question is when do we apply for a new mortgage for a new house given that we haven't seen one yet/put an offer in.

    We got a 'Mortgage Promise' from our bank (Lloyds) back in October however this is only valid until the end of this month plus I don't want to go with them as they are so expensive.

    Where do we go from here?

    Thanks
Page 1
    • Thrugelmir
    • By Thrugelmir 4th Jan 18, 8:53 PM
    • 58,885 Posts
    • 52,211 Thanks
    Thrugelmir
    • #2
    • 4th Jan 18, 8:53 PM
    • #2
    • 4th Jan 18, 8:53 PM
    Until you've found a house you cannot apply. Nothing to stop you researching the market and doing the leg work that a broker will perform for you. Then when you are in a position to move forward you'll be ready.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • hufc2002
    • By hufc2002 4th Jan 18, 9:25 PM
    • 252 Posts
    • 24 Thanks
    hufc2002
    • #3
    • 4th Jan 18, 9:25 PM
    • #3
    • 4th Jan 18, 9:25 PM
    When you say leg work do you mean looking a best buy mortgages etc?
    • marlasinger
    • By marlasinger 4th Jan 18, 9:40 PM
    • 465 Posts
    • 373 Thanks
    marlasinger
    • #4
    • 4th Jan 18, 9:40 PM
    • #4
    • 4th Jan 18, 9:40 PM
    We are currently looking for a house to buy and only have an AIP. No point in applying for a mortgage until you have found a property and know the price, etc.
    marlasinger

    • hufc2002
    • By hufc2002 4th Jan 18, 9:42 PM
    • 252 Posts
    • 24 Thanks
    hufc2002
    • #5
    • 4th Jan 18, 9:42 PM
    • #5
    • 4th Jan 18, 9:42 PM
    Like I said, we have a mortgage promise from our own bank. Where did you go for yours?

    Is it worth applying for an AIP from a lender I would go with?
    • goodwithsaving
    • By goodwithsaving 4th Jan 18, 10:21 PM
    • 824 Posts
    • 1,263 Thanks
    goodwithsaving
    • #6
    • 4th Jan 18, 10:21 PM
    • #6
    • 4th Jan 18, 10:21 PM
    When yours is sold, you have somewhere to buy and the chain is complete. Offers generally last 6 months.
    Every time you borrow money, you’re robbing your future self. –Nathan W. Morris
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