The nervous wait to exchange....
- Thread starter noj
- Start date
Use local, at least you can go into their office. I’d never use an online one again!
Random question and perhaps worthy of its own thread but I completed on my house on Thursday and just tried to apply for an IKEA financing agreement for some furniture and been rejected. I then tried to apply for an interest free credit card via Natwest (my current account is with them) and also got rejected. I have the cash to purchase things but figured that finance would help me spread the cost.
I checked my credit score and all seems well, no issues that I can see. Could it be because this recent mortgage application is on my file that I am being flagged up on the credit systems?
Perhaps because I haven't even made a single payment etc it flags me as a "risk" at the moment?
It is my first property, only ever had rentals before hand. Anyone else ever encountered a similar issue whereby you can't take on any more finance with the mortgage fresh on my file.
I checked my credit score and all seems well, no issues that I can see. Could it be because this recent mortgage application is on my file that I am being flagged up on the credit systems?
Perhaps because I haven't even made a single payment etc it flags me as a "risk" at the moment?
It is my first property, only ever had rentals before hand. Anyone else ever encountered a similar issue whereby you can't take on any more finance with the mortgage fresh on my file.
It’s probably because your address doesn’t match what the lenders have on file for you. Give it a few weeks to all filter though as you change all your accounts to the new address and get on the electoral roll etc.
In all likelihood, they probably consider your application potentially fraudulent.
In all likelihood, they probably consider your application potentially fraudulent.
Cheers both. I just updated the electoral roll. Did my HMRC and bank accounts over the weekend so will just wait a bit for things to kick in. I am hoping the applications I have done were just soft checks and won't hold against me in the future!
I had a quick look and I think for both of the applications we did they were "soft" checks as it was more an "eligibility" test. Will soon find out I guess ha.
Yup, it's a pain. I got quotes from BT and EE for fibre install dates and had a hard searches for each. Pretty rubbish tbh
Oh really? I've not used either but I haven't had hard searches from Sky, PlusNet or Zen over the years. It's nice to be able to see install dates without hard searches!
Oddly I've just checked ClearScore and Credit Karma and they have disappeared now, maybe once they realise an order hasn't progressed they remove it? Who knows!
Soldato
When i started checking clear score etc i notice and found out that my personal details were stolen and used to open up a new credit card where that person went on a spending spree almost a year from when it happened...
This was due to the fact that they used my OLD address so of course i never actually got any correspondence regarding this....
Had i not done a credit check on myself, i would still be clueless about this
We used Premier Property Lawyers (through Strike) and whilst they weren't great they did eventually get the job done. In hindsight I wish I'd gone local but a mate of mine went local and has had nothing but bother so some local ones will be better than others. As with anything don't necessarily go with the cheapest.
I've instructed local on the basis of the experience above. I recall using a distance online over 10 years ago with no issues, but reviews I read were so polar opposites I could not get a feel for which side I would end up!
So per op title, I'm now at the beginning of that journey.
1) Second viewing house Saturday
2) offer same day 'asking price'
3) offer accepted yesterday
4) mortgage approvals kicked off today/appointed solicitors
5) house being valued tomorrow. Zoopla implies it's worth £17k more than asking price so hopefully all good there!
To be honest not in a hurry, as need to save more to cover all of the conveyancing given local 'solicitor' premium and other costs associated with moving!
So per op title, I'm now at the beginning of that journey.
1) Second viewing house Saturday
2) offer same day 'asking price'
3) offer accepted yesterday
4) mortgage approvals kicked off today/appointed solicitors
5) house being valued tomorrow. Zoopla implies it's worth £17k more than asking price so hopefully all good there!
To be honest not in a hurry, as need to save more to cover all of the conveyancing given local 'solicitor' premium and other costs associated with moving!
Soldato
- Joined
- 29 Jun 2004
- Posts
- 12,957
Completed and moved in yesterday! It was a VERY interesting and drama filled completion...
Context - we bought from an 80 year old lady. This is relevant later in the story.
At 12:30 pm we received a call from our solicitors saying our purchase was complete. They said the seller has been instructed to drop the keys off to the agent immediately. The house is 15 mins from the agents so we figured we'd allow 30 mins.
Anyway, 30 mins roll by and the agent has NO IDEA where the lady is with the keys. They advise we wait another 30 mins.
Time goes by, it's been an hour now and still no show from the seller with the keys! The agent managed to get through to the lady and she said she wasn't going to drop the keys off because she said her onward purchase hasn't gone through yet and she didn't want to be homeless incase something went wrong with her purchase. The agent had to explain to her that the house was not legally hers anymore. She ranted over the phone that her husband fought in the war and it's no way to speak to an elderly lady. She went on to say she was staying put as she's lived there all her life and she'll vacate in her own time.
The agent passed this on to HER solicitors, who promptly gave her a call to say she's breaking the law. She wasn't having none of it. She didn't want to drop the keys off until her onward purchase went through.
We (me, the Mrs & the Agents) all went to the property together. The agent tried to reason with her but she just ignored us.
The agent advised us to call the police as it's legally our house now - we decided against it. We figured she's likely acting up as she's been there for such a long time she doesn't know anything else. We gave it a few more hours. Around 4 pm her onward purchase completed after which she dropped the keys off to the agent.
Madness.
Context - we bought from an 80 year old lady. This is relevant later in the story.
At 12:30 pm we received a call from our solicitors saying our purchase was complete. They said the seller has been instructed to drop the keys off to the agent immediately. The house is 15 mins from the agents so we figured we'd allow 30 mins.
Anyway, 30 mins roll by and the agent has NO IDEA where the lady is with the keys. They advise we wait another 30 mins.
Time goes by, it's been an hour now and still no show from the seller with the keys! The agent managed to get through to the lady and she said she wasn't going to drop the keys off because she said her onward purchase hasn't gone through yet and she didn't want to be homeless incase something went wrong with her purchase. The agent had to explain to her that the house was not legally hers anymore. She ranted over the phone that her husband fought in the war and it's no way to speak to an elderly lady. She went on to say she was staying put as she's lived there all her life and she'll vacate in her own time.
The agent passed this on to HER solicitors, who promptly gave her a call to say she's breaking the law. She wasn't having none of it. She didn't want to drop the keys off until her onward purchase went through.
We (me, the Mrs & the Agents) all went to the property together. The agent tried to reason with her but she just ignored us.
The agent advised us to call the police as it's legally our house now - we decided against it. We figured she's likely acting up as she's been there for such a long time she doesn't know anything else. We gave it a few more hours. Around 4 pm her onward purchase completed after which she dropped the keys off to the agent.
Madness.
4pm is very late for a purchase to be completing though. If it wasn't done by 5pm, the banks and solicitors all go home and then the old lady is right - she has nowhere to go that night.
I totally agree with you and all the solicitors, but I can see it from her point of view too as an elderly lone woman in her 80s.
Soldato
it's an odd one. In our case we got the key at 3:30 after completing at 930.
previous owners were not out, were still moving their stuff and we were both working so we allowed them till 12, that 12 turned to ignoring calls and then 3:30 they dropped the keys off! no biggie for us as we had the rented house for another week but still wanted to get going asap.
Our current house was legally ours at 1pm or something. The sellers were still moving out at 3pm. I was getting slightly irate and then the seller had the cheek to have a moan about something to my mrs and then I had a little chat with the guy.
When we bought our last place, I had the keys and our removals van was on the driveway, and they were still packing stuff up.
Our removals guys were getting impatient and started talking about late charges, which helped to hurry them up.
They’d left the place in an absolute state and had to come back the next day to get the last of their stuff, which I’d moved into the garage so it was out of the way.
When my parents moved into their current place, their sellers left loads of stuff that they ran out of time to pack. Never came back for it so my parents “inherited” quite a lot of expensive garden equipment, tools, etc.
My parents have moved 18 times I think, and my wife and I have moved every three years since 2015, so for us it’s a regular occurrence. I guess most people don’t do it as often as us so they aren’t as prepared.
Our removals guys were getting impatient and started talking about late charges, which helped to hurry them up.
They’d left the place in an absolute state and had to come back the next day to get the last of their stuff, which I’d moved into the garage so it was out of the way.
When my parents moved into their current place, their sellers left loads of stuff that they ran out of time to pack. Never came back for it so my parents “inherited” quite a lot of expensive garden equipment, tools, etc.
My parents have moved 18 times I think, and my wife and I have moved every three years since 2015, so for us it’s a regular occurrence. I guess most people don’t do it as often as us so they aren’t as prepared.