Yea I think so. It's to show the developer that they're doing something & to show the wider public that there's mass shortages of housing so buy buy buy.
6 weeks after going sale agreed, and the paperwork is being sent from vendor solicitor to our solicitor today. Excited that it's moving, but you really wouldn't want to be holding your breath!
yep, its a slow and sometimes frustrating process, but there's light at the end of the tunnel. Best of luck with it.
I'm very early in the process and it's a killer so far.
I haven't experienced directly, but a friend of mine went through it. Expect long waiting times between transactions, and add a few months onto any closing date.
Don’t get too excited. Our solicitor got the contracts 6 weeks ago and still waiting
Folks, do estate agents accept deposits on new builds with AIP?
I was accepted without AIP and didn't apply for the mortgage until after I'd paid the booking deposit.
Talk to the agent, tell them what stage you're at and see what they say.
Depends on each EA i'd imagine. sorry, cant be more concise than that.
There are no actual rules around it. I didn't have AIP on my mortgage when I paid booking deposit. Just said the mortgage application was submitted to the lender.
IS EA refusing to take booking deposit?
My EA never even asked about AIP, just took my booking deposit and that was that.
Of course. What else would they accept?
Our solicitor got our contracts in the first week of April and we didn't close until mid July
An actually offer letter
In theory you shouldn’t need any letter to put down a booking deposit, the whole purpose of making a booking deposit is that it gives you time to get all that stuff sorted.
But I think that due to the sheer demand, crafty EA’s are making their own rules up as they go along.
What are most people going with these days, fixed or variable?
Looking on various different bank calculators and Bonkers but very difficult to decide what's the best choice.
Looking at around 300k over 27-30 years