house then mortgage... or mortgage then house

[haveafannyandnotafraidtouseit]

what way round do we do it?
do we find the house we want and then apply for mortgage?
or do we get an agreement and then find a house?

we've been to a couple of places who've said that we should be able to get the amount we need... but that is just based on us giving info... no concrete evidence and no agreement in principle.

Always apply for/find mortgage first, then you can move faster when you find the house you like. Try to get the tentative approval on borrowings in writing.

Get an idea of what your borrowing limit is by going and meeting with a mortgage lender/advisor. Have a look at houses you can afford within your borrowing limit, make an offer if you really like the house and then go and meet with the lender to confirm the value of the actual mortgage you will need.

thanks!

I found the house of my dreams and had mortgage approved but the fee was £399,then house fell through so you guessed it i didnt get mortgage arrangement fee back!!!!!

hmmm... yeah... so i guess what we need is an agreement in principle. THEN find a house, then go back and finalise mortgage?

does that sound sensible?

Depends on your lender,the lender can still agree a mortgage without you having found a property.But DO NOT pay an arrangement fee like muggins here

lol! good advice actually!

But there is a good ending to this tale of woe,I sold my house within 2 weeks to first viewer,now renting temporarily.

So when my dream house appears again,i am ready to move tomorrow!!!!!!!

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