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4 minutes ago, TheCountOfNowhere said:

For Premier read....desperate

For desperate read... Still asking 40% more than the property is actually worth and too stubborn, greedy and intransigent to consider any offers that aren't within 3% of their deluded asking price.

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On ‎04‎/‎10‎/‎2010 at 8:48 AM, VeryMeanReversion said:

Some mortgage providers will give you a mortgage in principle of £X but when you actually apply, reduce it to £Y. In my case (HSBC), it turned out that Y = 75%*X and I have no debt and a perfect credit history. They will only do the full application paperwork when you have a particular house to buy.

So, you cant get a full income check done until you have an offer accepted.

So, you don't know if you are proceedable until the offer has been accepted.

I wouldn't have minded paying the £99 fee to get an "income/affordability-verified mortgage offer, subject to LTV being met". Otherwise, proceedable actually means no mortgage as far as I can see.

Wasn't my experience of HSBC (I've had 2 mortgages with them in the last 6 years) - turning mortgage in principle into full mortgage was just a bit of paperwork and a couple of hours on the phone or in the bank.  For them to drop their max mortgage there must have been something significantly different between the assumptions at point of MIP and the full application.  Maybe the difference for me was that my MIP was for substantially more than I actually borrowed in the end?

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