have i shot my self in the foot. (first time buyer with very little knowledge of how this works)
solicitor suggested putting an entry date of 4 weeks down on my offer as we had a mortgage AIP with nationwide (a Co his broker deals with but an AIP i arranged before going to see him)
he sounded somewhat annoyed today when i said i was half way through the application process with RBS which has been approved subject to valuation(scotland so homebuyers report) and proof of income which will be done tomorrow once i have recieved the completed paperwork from RBS and go to the branch with all the relevent crap
he had a bit of a huff saying there was nothing he could do until i had the formal offer back from RBS and implied that it could have been done quicker through his broker.
have i just made things difficult for my self ?
Go with where you get the best deal. It is YOUR money. If he wants to get huffy, he can pay the bills for the next 25 years.
Aye but are some lenders quickr at formal offers than others ?
Thats what he was implying
And if it does push me over the date of completion ill loose the house ?
Mranger was right in the other thread - offer accepted is easy bit
I'm sure he'd much rather you went through his tame broker as they probably split the fees. He's working for you so tell him to wind his neck in.
Is he losing commission,or his mate is?
Is the seller uptight re DOE...are missives concluded?
No and no al the whole date of entry thing was a condition of our offer as he thought we could beat the stamp duty
The way i feel rit now id change it and take the 2 k hit !
It would be him loosing commision
I bought a house and got the keys within 4 weeks with RBS. To be fair it's not the bank who drag their heels it's normally the solicitors when conducting the missives, although I suppose they're maybe not as busy pre crunch. Get yourself a good brief and it'll be sorted for you within that time frame.
My experience with solicitors in Scotland when house buying makes me a tad sceptical about some of their practices.
Was the Nationwide AIP direct or through a broker / agency type place? When we got our last offer accepted the recommended (by solicitor) mortgage place sounded good but the AIP had charges / fees not originally mentioned. I'm sure that the solicitor and broker and a commission / kickback thing going on - maybe just for a bonus golf trip or whatever - but it still seemed dubious.
#Edit - we changed to Virgin (an RBS brand back then) and he wasnt best pleased. Still all went through ok though.
#Edit 2 - Apart from cynic-al of course. Damn - I forgot what he does for a day job. He's probably alright!
I've been told by colleagues its the lenders that take up the time - the missives will be concluded much sooner.
TR most sellers won't rescind if the buyer is late but can come up with a genuine reason - though there'd be an interest charge.
My aip was direct
And tbh it would have been processed no quicker as its already been accepted pending valuation and proof of income (ie credit checks done and my gfs income and id are verified as she banks with them) , which im going into branch to do tomorrow as its next to work
To go to my solicitors is a half day off work which doesnt happen at short notice
29 days and counting . Both solicitors seem very quick at the moment - offer went in on friday accepted on monday , letter of acceptance on my door mat today
mmmm that was a test of endurance
who in the 21st century gets originals of their bank statements sent out ? i just have a backed up file on my HDD with PDFs in
managed to get signed stamped copys from my bank though in the end and that satisfied them !