Sale Agreed - Next Steps

RisingDamp

My wife and I have recently gone sale agreed on a house. As such we have advised our bank to proceed from pre approval to full loan approval.

However as my wife was born abroad they have requested she supply a credit check from her country of origin before they can proceed with the official letter of offer and all that it entails.

My question is this:

Can we be lining up anything in the background while we are waiting on her credit check to complete i.e. life cover, building insurance etc in order to get things moving asap? (we already have solicitor in place and have paid our booking deposit)

I would be worried that the longer we take to tick things off the more chance there is of the vendor putting the house back on the market

Seth Brundle

* Make sure you have life cover for both of you that covers the entire mortgage amount and term
* you may need to get a valuation for your mortgage provider
* get an engineer to survey the house for any structural issues (for your own peace of mind)

RisingDamp

Seth Brundle wrote: »

* Make sure you have life cover for both of you that covers the entire mortgage amount and term
* you may need to get a valuation for your mortgage provider
* get an engineer to survey the house for any structural issues (for your own peace of mind)

Thank you!

s7ryf3925pivug

Mortgage protection (life cover) can take a long time to sort out, so I would prioritise that. My experience was that the survey and valuation were quick. You can't get the valuation done until prompted to do so by the bank.

If your budget covers it, get a full structural survey rather than a homebuyers' report. You probably need to ask for it explicitly. Surveyors may assume you want the latter and may prefer it because there is less chance of them being held liable if they miss something.

Samuel T. Cogley

Keep looking, the sale may fall through. I'm not trying to pee on anyone's cornfalkes but far too many people stop looking at the Sale Agreed stage.