Mortgage question!

[caitlinhunterx]

Hello everyone,

Needing a little help. I'm a first time buyer with my partner and we have a mortgage agreement and now we are waiting on the full approval of the application.

They have took 248 out of my account for the fee and searches. Do they take this once it's been approved or do they take it no matter what?

Thank you! X

 

[Trinity]

Hello everyone,

Needing a little help. I'm a first time buyer with my partner and we have a mortgage agreement and now we are waiting on the full approval of the application.

They have took 248 out of my account for the fee and searches. Do they take this once it's been approved or do they take it no matter what?

Thank you! X

You're better off asking the actual bank. Yes you usually pay fees whether the whole thing goes through or not, but banks may offer to carry over the charges to an new application depending on what it failed on. They may not, you need to ask them.

 

[CFBS]

Sorry to say that you pay the search fee whether you end up buying the house or not.

My son bought his first house last Autumn and he used a solicitor that offered an 'all in' package which was a lot easier to budget for than paying a bit here and a bit there. Fortunately his purchase went straight through without hitches or gazumping!