Mortgage Proccess

[Jopolson]

Hi Guys,

We have an application in for a mortgage and the last update we had from the Leeds Building Society is that they need to value the property.

I've read in some places that the mortgage offer is as good as ours, but in others that the underwriters can still say no. We know we are paying under market value for the house so I cant see an issue with the valuation.

My wife is champing at the bit to get everything we own boxed away and I'm trying to not let her get too carried away, not to mention the kids who have already come up with floor plans for their new rooms!

What potential pitfalls await or are we over the hardest hurdles already?

The reason for my doubt is that I had a default five and half years ago, which i disclosed to the Leeds, but on the "to do" list they sent me it had a wee box at the top saying adverse credit which was ticked and accepted ticked below it.

Thank in advance for your input.

[brian]

Wait and see - you need to see what the Leeds come back with. Counting chickens and all that.

However, even if they do say no, the better mortgage deals can often be found off the high street where adverse credit, prime, or self-cert mortgages are concerned, so don't fret too much if it is a no - just see a mortgage broker.