Mortgage offer

[labsarelife]

Hi, just after a bit of advice about the length of time it takes for a mortgage offer to be made after valuation.
My solicitor phoned me today and said all of our legal work is done on our purchase. However, our buyer had the valuation on our house at the beginning of Jan and still hasn’t had his mortgage offer through yet. They keep requiring additional info. So we are going in to the sixth week of waiting for it. Is it possible he’s hiding a problem with it? Is it usual for an offer to take this long? Is it a bad sign that they keep requiring more financial info from him?
My estate agent is chasing him and his mortgage advisor but they keep telling us it’s with the underwriter still.
Our offer came through in less than 48hrs. I’m beginning to think I need to get my house back on the market in order to get another buyer ASAP, so I don’t lose our purchase.
Someone in the village we live in, asked me how it’s going and said she’d like to view if this falls through. She wanted to view months ago but this buyer just pipped her to it and I’d already accepted his offer. So there’s definitely other interest in my property still.
So tired of it all. We lost a previous buyer (and consequently, a previous purchase) a week before exchange. Seems like we could be heading for another disappointment. Just want to try and protect losing our purchase this time by lining up potential buyers in case our current buyer’s lender declines to offer the mortgage. So stressful. Any advice much appreciated. Thank you.

Hmm that does seem strange-and certainly like it could go either way with the decision. We got our offer less than 24 hours after the valuation...

If I were you I'd def pursue the other option as a back up.

Good luck!

Yes, it’s extremely worrying. I’ve heard that some lenders are fast with offers (like yours and mine were) and others are a lot slower but 6 weeks is really pushing it. I was hoping to maybe come across someone on mumsnet who works in this field, to give me a bit more insight.

Could your buyer be self employed? Our mortgage offer 7 weeks as they wanted so much evidence of DH's self employed earnings. They kept saying they hadn't got something, even though it was sent along with other documents that they did have. However, we did all this before the valuation was done, so we took weeks to get to the valuation stage and then got the offer about a week after that was done.

Yes, they are self-employed. I’d expect the delay to come before the valuation and not after though. Although, perhaps that’s the issue. I didn’t think of that. Thank you.