Buyers!!

[Megan96x]

Just wondering if anyone is currently going through the process of purchasing a property? Is anybody struggling with trying to obtain a mortgage?

Myself and my partner fully submitted all the final documentation for our mortgage application on Monday - and still have not heard back. Getting a little nervous and admittedly impatient!😬

We are in a real quandary.

We want to buy a house but everyone saying there's a big crash coming so DP wants to wait at least 6 months.

I think all the mortgage places are run ragged busy at the moment. Every time I’ve had a ‘we’ll get back to you soon’ at the end of a conversation, they haven’t, I was supposed to have a call back from Halifax today - hasn’t materialised, broker was supposed to get back to us yesterday - didn’t happen. I’m chasing. It’s super frustrating.

@Daisyblameless it’s definitely a tough decision to make, Ive seen many mixed opinions and articles about wether prices will crash or not. Definitely a difficult call!
We viewed and fell in love with the property we are trying to purchase back in feb, and it’s just been issue after issue since then!

@Lemonylemony
I think your right- everything for us went soooo fast up until the final submission of documents. I think when the higher LTV came back on the market many lenders would have got absolutely rammed with applications.
Property buying really is a very stressful experience!!

Whoo chasing works broker actually just got back to us, so we’ll be submitting application tomorrow once we’ve had a chance to review it. Apparently the Halifax product we were looking at was pulled today so that explains why they didn’t get back to me!

Broker said average estimated time from application to offer for the product we’ll be applying for is 32 days at the moment, and that that’s not too bad, because of covid some lenders are over 72 days apparently. I don’t know how much you can rely on the word of a mortgage broker selling you a product but 🤷🏻‍♀️ just puts things in perspective, things are taking time at the moment.

Might be worth asking your prospective lender what their timeline is looking like to put your mind at rest?