AAAAAHHH why is buying a house so difficult
Discussion
ex1 said:
bobski1 said:
Do you have info for the broker please?
Using a broker is half his problem. Often much easier and quicker to go direct and save fees."Broker doing a sterling job" = broker telling me how difficult lender is etc,etc and how he has direct line to CEO etc,etc. It's all bs they just complicate and slow the process down.
for a variety of reasons i couldn't have got this far without some professional opinion.
Worth noting that the first mortgage offer from the Halifax was produced about 10 days after DIP- that includes the valuation.
I'm all for paying professionals!
My broker really has been superb and he'll get another recommendation on here once we are done.
First time buyer here..
Applied for MIP on 21st April which was approved on the spot. Drove to sellers house and put offer in directly with seller in person, as well as in writing to EA when I got home. EA thought we couldn't afford house and demanded proof of deposit and MIP before he would contact sellers, not knowing I had literally just spoken to them. Once he had proof he suddenly couldn't be more helpful and offer was accepted within 30 minutes that same day. Today we have just exchanged and aim to complete on 7th of July due to currently renting, completion could have been sooner if needed. So tomorrow is 8 weeks to the day from applying for MIP to exchanging.
Few things though, For one I was hugely surprised at house easy we got a Mortgage and how much they were willing to lend a menial like me/us. The other thing is how quickly its all happened from thinking we couldn't now afford to buy...to suddenly owning our own house after 20+ years of renting.
The seller queried the time scales when we put our offer in and asked how quick could we proceed, we informed her as quick as the process would allow which seemed to be 8-12 weeks as the norm. She seemed rather taken aback and wanted to know why we were going to take so long ? Well it turns out every single delay has come from her end, made even more funny considering she said we were being ripped off paying £1200 solicitors fees and searches as hers was only £700 odd. Seems you do get what you pay for after all haha.
Anyways I'm off for a well deserved G&T now and try forget the almost £300k I've spent on rent over the last 20 years and look forwards to the next 26 years paying off another £360k
Applied for MIP on 21st April which was approved on the spot. Drove to sellers house and put offer in directly with seller in person, as well as in writing to EA when I got home. EA thought we couldn't afford house and demanded proof of deposit and MIP before he would contact sellers, not knowing I had literally just spoken to them. Once he had proof he suddenly couldn't be more helpful and offer was accepted within 30 minutes that same day. Today we have just exchanged and aim to complete on 7th of July due to currently renting, completion could have been sooner if needed. So tomorrow is 8 weeks to the day from applying for MIP to exchanging.
Few things though, For one I was hugely surprised at house easy we got a Mortgage and how much they were willing to lend a menial like me/us. The other thing is how quickly its all happened from thinking we couldn't now afford to buy...to suddenly owning our own house after 20+ years of renting.
The seller queried the time scales when we put our offer in and asked how quick could we proceed, we informed her as quick as the process would allow which seemed to be 8-12 weeks as the norm. She seemed rather taken aback and wanted to know why we were going to take so long ? Well it turns out every single delay has come from her end, made even more funny considering she said we were being ripped off paying £1200 solicitors fees and searches as hers was only £700 odd. Seems you do get what you pay for after all haha.
Anyways I'm off for a well deserved G&T now and try forget the almost £300k I've spent on rent over the last 20 years and look forwards to the next 26 years paying off another £360k
yajeed said:
With a low enough LTV, then the risk is minimal, surely?
Indeed. Apparently it was due to the low LTV and that all my banking is done via them. To be fair I spent more time with my mortgage guy talking through options. The 2hrs to approval was the time it took to get an offer after him keying in the application.
I'm a happy customer so cant complain. Just wished my buyer was the same. Ftb using cheap as chips conveyancer and we are all paying the price. He is well behind us.
It seems you do get what you pay for.
PugwasHDJ80 said:
ex1 said:
bobski1 said:
Do you have info for the broker please?
Using a broker is half his problem. Often much easier and quicker to go direct and save fees."Broker doing a sterling job" = broker telling me how difficult lender is etc,etc and how he has direct line to CEO etc,etc. It's all bs they just complicate and slow the process down.
for a variety of reasons i couldn't have got this far without some professional opinion.
Worth noting that the first mortgage offer from the Halifax was produced about 10 days after DIP- that includes the valuation.
I'm all for paying professionals!
My broker really has been superb and he'll get another recommendation on here once we are done.
Currently buying our first home.
Our broker is a friend/business contact of my gf's work colleague.
He wavered his brokerage fee to us (although he still gets a fee from the lender).
He's been brilliant, we viewed the house in April, had an offer accepted within a week, there's been some back & forth after the lenders down-valued the property.
However the thing that has held it up most... the local checks!!
We were quoted 3 working weeks (15 working days) as a worst case scenario for the checks to come back.
We've now just gone past the 20th working day!
The EA have been chasing the last couple of days for us to exchange+complete in 3 weeks, however as we're busy for the majority of July we've agreed to exchange at the end of June with a completion at the end of July.
Our broker is a friend/business contact of my gf's work colleague.
He wavered his brokerage fee to us (although he still gets a fee from the lender).
He's been brilliant, we viewed the house in April, had an offer accepted within a week, there's been some back & forth after the lenders down-valued the property.
However the thing that has held it up most... the local checks!!
We were quoted 3 working weeks (15 working days) as a worst case scenario for the checks to come back.
We've now just gone past the 20th working day!
The EA have been chasing the last couple of days for us to exchange+complete in 3 weeks, however as we're busy for the majority of July we've agreed to exchange at the end of June with a completion at the end of July.
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