The hoop jumping has started: we don't have a firm mortgage offer because until there's a definite probability that we will buy a place we don't want to start the mortgage application process. There's normally a non-refundable fee of about £2,000, so if the offer made on a property is not accepted, we'd have a mortgage with no house and be out of pocket by lots of cash.
We've bid on one place at auction, and the Old Old People's Home will be the third other offer we've made on a property. If we'd got a firm mortgage offer in place each time, we'd be the best part of £8,000 down with no guarantee that we'd go to completion [our other two offers didn't].
But the trust wants us to have a firm mortgage offer in place before they'll consider our above asking price offer, despite correspondence showing we've got over 50% deposit and a mortgage agreed in principle.
I'm hoping Jyotin will be able to come up with a solution [in the days of £50 application fees, I'd be willing to just start the process, but this place needs so much work I'm unwilling to just 'throw away' £2k!]...
Fingers crossed!
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