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geeza

Need Advice About Mortage

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viewed a house for £79,950, want to put an offer in for 72k, phoned the estates earlier (Reeds Rains) they said they will not put the offer foward until I have a mortgage offer in principal. Northern Bank have said they will not do this until I put an offer in and vendor agrees!

WHAT DO I DO?

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viewed a house for £79,950, want to put an offer in for 72k, phoned the estates earlier (Reeds Rains) they said they will not put the offer foward until I have a mortgage offer in principal. Northern Bank have said they will not do this until I put an offer in and vendor agrees!

WHAT DO I DO?

reduce your offer

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what do u mean, regardless of the offer they wont put it foward, regardless of price

tell em to get f_cked or appraoch the owner directly if you know who the owner is

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tell em to get f_cked or appraoch the owner directly if you know who the owner is

apparently the reason for this is beacuse they dont want to waste their own or the vendors time!

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apparently the reason for this is beacuse they dont want to waste their own or the vendors time!

well roll your sellves up and get stuck in or find someone who does want to trade.

If you want the offer put forward tell the vendor directly you made an official offer and you hope that it has been passed on

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A mortgage agreement in principle means nothing. The credit check won't be performed until later in the process. Get an AIP from Halifax. It's a painless process. They give them out like candy. You can then proceed in getting a proper mortgage from you bank of choice.

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I went to the HSBC online calculator and got an AIP that I could have printed off. I wasn't asked for any personal details. All the AIP is about is seeing what you could borrow based on your income and outgoings. The EA just wants to know that you could, in theory, borrow enough money to buy the house.

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Yes I hope you got rid of the house you were trying to flog. I stand by my comment on the ease of obtain an AIP but really if you are looking to buy this on top of your exiting house (if not mortgage free,) I can see why the EA would like to make sure you can proceed with the sale. If there’s no chance of you meeting affordability criteria from the get go you are probably wasting the EA’s time, the seller’s time and your own time. But I think in a buyers market in particular that’s your choice. Look out for number one.

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Actually I believe the EA is taking the proper approach here. If they are going to try and convience the vender to accept this lower offer they will have to be able to say if is a sound offer, with mortgage already approved. Whilst I agree you cant have a firm mortgage offer until the banks suveyor repoer is in atc, you can be assessed, by a nortgage broker to see if you can get a offer in principle. If the EA is to have any change of getting your offer accepted he will need to know you have at least done this.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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