Offer accepted - now I'm having sleepless nights!

[Moodycoo]

My partner and I found a great wee house a few weeks ago, offers in excess of £65k, and we were finally told our bid was accepted on Friday (in Scotland so closing date with sealed bids and 5 notes of interest/offers!) which we are delighted about obviously! Although we have an agreement in principal for a mortgage up to £110k I find myself lying awake worrying that we won't get final approval for our mortgage on this property despite it being a lot under our maximum. Has anyone else found this part of the home buying process stressful? This is only the second time I've been involved in house buying - last time was 2003, good old 125% mortgages and my exh wouldn't let me be on the mortgage anyway so I did t worry about it so much!

Can anyone share nice happy stories of smooth exchanging of contracts etc? We're ftb and the house is currently vacant (owner in a care home and family selling the property).

Not even sure what the point in my post is tbh. I'm just worrying that it'll all fall through and we'll not find another one (plus I adore this wee house - it's perfect for our wee family)

Maybe just some moral support?

The whole house-buying thing is stressful even when it goes smoothly - hang on in there! Hope it all goes well.

It's normal to be stressed. We are going through the FTB sleepless nights over our hopefully soon to be first home together.

We got accepted on a mortgage and now just waiting and waiting and more waiting for solicitors and surveyors and all that jazz.

I know it's hard, but try not to worry

We are in Scotland too, we offered on our house and got offer accepted however we didn't breathe a word of it until we collected keys as I was convinced they were going to take the mortgage offer back, we managed to get all paperwork etc through in 3 weeks as house was empty but it was so stressful I was also 4 months pregnant and we had a new bathroom and kitchen to install as well as decorate so not the best timing 😂 we are in a great position now as the house next door to us has just sold for £35k more than we paid 4 years ago! Good luck and I am sure it will all be fine xx

I got my keys 2 weeks ago, all very smooth! Like you my flat was empty so we didn't have a chain to worry about - I think that's usually the main cause of stress.

We had 4 weeks from offer to getting the keys and to be honest I think it could have been done sooner, but we asked for a later date of entry to avoid too much of an overlap with renting.

Good luck!

We did it last year, also in Scotland. All went well and smoothly ( even though I am self employed and therefore I had to provide some extra documents, but our mortgage broker was on it ) and we had no problem whatsoever.

Oh it's definitely stressful! I was convinced we wouldn't get the mortgage. Then as soon as one thing went through I worried about the next thing right up until the night before moving date when I was convinced the cat would make a run for it and we wouldn't be able to find her. All went smoothly and the first day in the new house lying on the grass with my partner, drinking champagne was one of the happiest moments in my life. We were so relaxed by then we even let the cat out to have a sniff around her new garden. Good luck! It will all be fine :)

I have this right now! We got asked today for more documents for the mortgage and now I'm absolutely freaking out.. the broker is confident with it but I can't cope until I know..

Hi! We haven’t got an offer accepted yet but got a decision in principle and already worried about not being offered full mortgage ! I’m also self employed sole trader but my partner is in full time employment. Can I just ask what all the extra documents are people have been asked to provide? Told mortgage broker I was worried and he said 2 years SA302s is all but that doesn’t seem enough!

We got asked for loads of extra stuff from our mortgage provider (hubs is a contractor and I'm on mat leave). It was all fine in the end but just took longer than normal. They wanted extra payslips for me and proof of DH's contract variations.

It's all stressful, and I got hideous buyers remorse as soon as we started - I second guessed everything, but I love our house so it really was just a case of cold feet because damn it's a commitment 😂

Lolly567, this (2 years of SA302) is what I was required too, and as I wrote earlier, all went very well. I was in a similar position, I am self employed, but DH is regular permanent full time employment - even though I am the main earner. On the HMRC website it was written they will take about 2 weeks to send me the documents, they arrived in less than a week; the mortgage advisor told us NatWest should sort out our mortgage in 2-3 weeks, at the beginning of the second week we got the mortgage offer through the post! I was amazed how smoothly everything went [ compared to the first time we bought a house]. Good luck, all will be well!

Thank you so much for that reply @Darkbendis that is very reassuring!!! Was this quite recently that you were accepted? Fingers crossed it goes as smoothly then (and we find a house and get an offer accepted haha..).

Sorry for slightly hijacking your thread OP! Good luck with everything, it sounds like you’re in a good position not going to your max etc. Also I do have a friend who tried to get a mortgage without going through a mortgage broker and got rejected, but they ended up reapplying with a broker and they were accepted so even if it doesn’t go through the first time then don’t lose hope. Our broker also said as long as there’s nothing fishy on your bank statements eg. Regular payments to online gambling sites, or credit cards that you haven’t told them about then you’re unlikely to be rejected after receiving a DIP! So good luck OP!!

Lolly567, it was last summer (2017).

Thanks everyone for all your replies - you've all helped me calm down a wee bit!

Latest update: after a 2.5 hour appointment with the mortgage broker sorting our "official" application more issues have been thrown up! Sainsburys flat out declined us on their in-house scorecard - despite our broker saying our credit checks looked fine. Tesco have approved us in principal and we're hoping to get a final decision in two weeks. We had every bit of paperwork we could think of, and were asked for, and the problem now is that my partners Mum is gifting us money to help and the broker said we now need three months of her bank statements to show where the funds came from. Typically they're away to Oz for the rest of the month from Sunday so we're in a bit of a panic trying to get that sorted before they leave!

We got our official acceptance letter today - in it I saw that they are awaiting our response and will withdraw if we don't accept their acceptance before 14 September? Is this usual? And is a mortgage in principal enough to accept on?

Ahhhh yes here comes the stress headaches again.....

Oh no OP! Hopefully the Tesco application goes better! Do you know why Sainsburys declined?

Our broker called them and asked but we were just told it's down to their "internal scorecard" Apparently skipton are also well known for having this in place and it's difficult to get a mortgage with them.

When I was looking to buy my first house, the Halifax declined my application. I had no trouble getting a mortgage elsewhere although it was worrying at the time. A good broker will get a mortgage sorted out for you. Ironically the eventual lender got taken over by the Halifax a couple of years later. I was most indignant at the time!

We have a very odd situation (I'm on a bursary income) and we still managed to get accepted by Natwest! A good broker is worth their weight in gold so just trust them!

So we've been having mortgage drama since our offer was accepted. Our broker first of all tried Sainsburys, who knocked us back on an internal scorecard (no other info given!), and then Tesco who approved us in principal but declined us due to a late payment with no other info. I'm getting so anxious about the whole thing. Our credit reports have been checked on clear score and Equifax and are fine, nothing that stands out to our broker anyway. Please can someone assure me that we're not going to lose our lovely house and be stuck renting forever?? 😢