Apparently Mortgage offer but not issued

[Abiabs]

Hi all, hoping someone can help, all in chain ready to exchange a while ago. Bottom of chain seams to be struggling with mortgage? New update is that broker confirmed mortgage offer but will be issued in a few weeks onwards! Is this normal? They have searches and everything else done

If they've had a valuation on the property they are borrowing on, it's normally up to a week to receive the offer. We've just had 2 mortgage offers (buy to let and residential) and although they said it was getting busier because of interest rate increases causing an influx of applications, it was still only a week at most. How long has this chain been in place?

Is that the update directly from the broker or from the purchaser... seems an odd thing for the broker to say, i would be clarifying if i were you

That sounds like they don’t have the mortgage offer yet. We applied for our mortgage a month ago and the valuation was eventually done yesterday and we’ve been told to expect to receive the offer early next week. Our broker has been extremely slow and inefficient though so I imagine with someone more on it it would have been quicker.

I think it's normal. Just wait. Let weeks go by. You will be contacted and I would ring estate agent or solicitor every week also. It takes months, longer if complications. I stressed and stressed over mine, but it went through in the end and now I am selling again and this time just waiting. I reckon it takes 3 months. I got my offer in late April, so late July I reckon I'll move or thereabouts. All sorts of things can delay it - leases, mortgage offers (staffing levels), land registry, the need for fire risk assessments etc. Try not to worry. Get your end of things ship shape and then just wait.

It’s been 16 weeks, 13 since chain complete. Been chasing their offer up for 5 weeks 🙈 just thought it was strange that their solicitors notes said offer Ok but would be issued at x date or later?

Valuation was done weeks ago but think they may have re applied?

Something about mortgage offer being ‘keyed in’?
I think you’re right though, need to stop stressing, what will be will be! Thank you!

Do you have a specific date you have to be in to your new property? If not, as hard as it is, it probably is worth saving yourself the stress and just not worrying too much if it's someone else's mortgage and you can't do anything about it.

True! I’m just worried they not get a mortgage, chain collapses and my seller pulls out. You’re right though, no point worrying yet

I don't know what keyed in means but I wonder whether they've changed jobs and need to wait for their next payslip to actually issue the offer so essentially, everything is agreed but they need further documentation. That's the only thing I can think of because why else would they said there is a mortgage offer in place. There really are so many hurdles with house buying and you could speculate until you're blue in the face but as cliche as it sounds, everything happens for a reason. I really hope it all works out for you, good luck!