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buying selling but with a bit of a wait?

3 replies

dollyplumislotsoffun · 27/02/2015 07:46

hi, just after some thoughts on whether this sounds like timescales etc will be OK.
we have just put our house on the market today, haven't found anything we like yet but are now beginning to look. however our mortgages is dependant on April's new tax return for proof on income so we can't actually proceed with our new mortgage til end of April.

my question is, Is it worth looking now or would I just lose out because we can't proceed yet?
just wondering if I've jumped the gun by putting house on now.
thanks

OP posts:
WhatsGoingOnEh · 27/02/2015 07:58

I'd wait till April. Until you know exactly how much you can borrow, you don't know what house you can afford. Plus it'll take a couple of weeks at least yo get your mortgage offer back now, under the new mortgage rules.

When I was looking, I had a mortgage in principle arranged and it worked in my favour.

If you start things moving now only to find out in April that you can't borrow as much as you thought, you could just waste everyone's time.

BauerTime · 27/02/2015 13:04

I'd start looking and if you find anything just be honest about your mortgage situation.

We got an offer accepted without even having our house on the market or even thinking about arranging a mortgage. We were totally honest about it all and they were ok with it.

BauerTime · 27/02/2015 13:05

Obviously that's assuming you are pretty certain about how much you can borrow.

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