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At what time do you select/state your mortgage provider?

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  • 28-06-2009 2:12pm
    #1
    Ex Flex Member
    Closed Accounts Posts: 19 ✭


    Hi all

    thanks for all the replies to my post yesterday

    an update;

    our offer has been accepted a sale price agreed. Will be visiting the solicitor tomorrow morning to take the next step

    at exactly what time/stage do we have to "nominate"/state who our mortgage provider is?

    (we have 1 bank who have given us MAIP with just proof of balancing amt needed. Are still waiting for 2 other banks to come back to us and ideally we would like a choice.

    many thanks
    EFM


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    #2
    handzy
    Registered Users Posts: 28 ✭handzy


    Well we had to let our bank knw wen our offer got accepted and they get in touch with the agents selling the property. So pretty much straight away.


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    #3
    astrofool
    Registered Users Posts: 16,641 ✭✭✭✭astrofool


    You should be working to get approval for the purchase from all the banks, compare what they are offering (interest rate, extra's, introductory rate etc.) and then you will just ring up (or tell your broker) who you want to use.

    They will then send out a mortgage pack, along with any conditions you have to meet (get a survey, repay a loan etc.), you sign it, return it (along with DD mandate if necessary), and then it will be in the hands of your solicitor. Signing date will be agreed, along with a 10% booking fee when the contracts get signed (when this is signed, neither party can walk away from the deal, without being sued for breach of contract).


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