₦airaland Forum

Hi friends, a property vendor is asking me to pay for ID checks after the seller accepted my offer... I do not understand, is this right? I like the property and intend to proceed especially as the offer has been accepted but this £75 ID check charge is putting me off.

@Lexus and all, should I use the property agent's solicitor or I search for one? I got a quote of £2053 from the agent...

ehizario2012:
@Lexus and all, should I use the property agent's solicitor or I search for one? I got a quote of £2053 from the agent...

No you should NEVER use the agent's solicitor. Get your own that's working exclusively for you.

They'll try to push you on it and make it seem as if without it the sale won't proceed but you're much better off getting a separate solicitor to represent you in the transaction.

ehizario2012:
Hi friends, a property vendor is asking me to pay for ID checks after the seller accepted my offer... I do not understand, is this right? I like the property and intend to proceed especially as the offer has been accepted but this £75 ID check charge is putting me off.

Lifetime Legal, right?

It's unfortunately common for the vendor's agent to ask this payment, although 75 is on the high side. The fee is for them to conduct AML checks as part of their compliance obligations. Normally the vendor ought to pay since they're the one getting a service but many agents are now pushing it onto the buyer so they can reduce the costs they charge to the seller and market themselves as cheaper than their competitors as a result.

You could push back and see what they say - it all depends on if you're willing to lose the purchase and if your seller's willing to lose the sale.

Goodenoch:
Lifetime Legal, right?

It's unfortunately common for the vendor's agent to ask this payment, although 75 is on the high side. The fee is for them to conduct AML checks as part of their compliance obligations. Normally the vendor ought to pay since they're the one getting a service but many agents are now pushing it onto the buyer so they can reduce the costs they charge to the seller and market themselves as cheaper than their competitors as a result.

You could push back and see what they say - it all depends on if you're willing to lose the purchase and if your seller's willing to lose the sale.

Thank you. It was credas check. Your comment is very correct.

Goodenoch:
No you should NEVER use the agent's solicitor. Get your own that's working exclusively for you.

They'll try to push you on it and make it seem as if without it the sale won't proceed but you're much better off getting a separate solicitor to represent you in the transaction.

They are truly pushing me... I'll have to start searching for a solicitor now. Does it have to be a local solicitor or can I use one online? Thanks for your support all.

ehizario2012:
They are truly pushing me... I'll have to start searching for a solicitor now. Does it have to be a local solicitor or can I use one online? Thanks for your support all.

You can use any conveyancing solicitor

ehizario2012:
Hi friends, a property vendor is asking me to pay for ID checks after the seller accepted my offer... I do not understand, is this right? I like the property and intend to proceed especially as the offer has been accepted but this £75 ID check charge is putting me off.

see attached for my ID check fee its £12
try to compare quotes with other solicitors thats what I did when my first quote was £4k plus my second was £2281 . You can guesss which one i accepted.

I used credas too

MonkeySee:
see attached for my ID check fee its £12
try to compare quotes with other solicitors thats what I did when my first quote was £4k plus my second was £2281 . You can guesss which one i accepted.

I used credas too

Thank you. I also got another solicitor about £500 less!

Hello all,

Is there any disadvantages to having locks to my room doors?

ToyosiR:
Hello all,

Is there any disadvantages to having locks to my room doors?

Asked same when I bought and was surprised the doors didn't have any. Fire hazard I think. Reason why main doors and upstair windows would include a keyless escape.
In the event of a fire or an emergency, people should be able to move unencumbered within the house

ToyosiR:
Hello all,

Is there any disadvantages to having locks to my room doors?

If the property is an HMO, the landlord by default should put locks on room doors......

If it's a family home, locks not required.......

Lexusgs430:
If the property is an HMO, the landlord by default should put locks on room doors......

If it's a family home, locks not required.......

I want to rent out a room in my home. Is it okay to put a lock?

ToyosiR:
I want to rent out a room in my home. Is it okay to put a lock?

Perfectly OK. Your tenant would even demand a lock...... 😁😂🔒

Hello guys. Please I need your input.
So we've agreed 25th July for completion, and solicitor say contracts would be exchanged this coming week, no chains.
We went ahead to buy some household stuff from curry's on finance (£1640 @0% interest for 12 months). Now estate agent asked that hope we've not gone buying stuff, told her we bought some stuff, she said she was going to get in touch with Barclays to ask if it's a problem, but that we should tell the solicitor to hold on the exchange till we get feedback.
Abeg what should we do in this instance, cos I don't want to tell the solicitor to hold on.
Whats the implications and the worst case scenario, Could Barclays withdraw the mortgage offer cos of this?
We have some funds available for setting up the house, do we just use this to pay the credit?

Meogom:
Hello guys. Please I need your input.
So we've agreed 25th July for completion, and solicitor say contracts would be exchanged this coming week, no chains.
We went ahead to buy some household stuff from curry's on finance (£1640 @0% interest for 12 months). Now estate agent asked that hope we've not gone buying stuff, told her we bought some stuff, she said she was going to get in touch with Barclays to ask if it's a problem, but that we should tell the solicitor to hold on the exchange till we get feedback.
Abeg what should we do in this instance, cos I don't want to tell the solicitor to hold on.
Whats the implications and the worst case scenario, Could Barclays withdraw the mortgage offer cos of this?
We have some funds available for setting up the house, do we just use this to pay the credit?

I’ll literally just pay off the finance and not bother and inform the agent not to escalate anything.

Meogom:
Hello guys. Please I need your input.
So we've agreed 25th July for completion, and solicitor say contracts would be exchanged this coming week, no chains.
We went ahead to buy some household stuff from curry's on finance (£1640 @0% interest for 12 months). Now estate agent asked that hope we've not gone buying stuff, told her we bought some stuff, she said she was going to get in touch with Barclays to ask if it's a problem, but that we should tell the solicitor to hold on the exchange till we get feedback.
Abeg what should we do in this instance, cos I don't want to tell the solicitor to hold on.
Whats the implications and the worst case scenario, Could Barclays withdraw the mortgage offer cos of this?
We have some funds available for setting up the house, do we just use this to pay the credit?

A hard search has already been recorded on your account, and the bank will see it regardless. At this point, what matters is how it may impact your mortgage application. The key factors to consider are the amount you’re borrowing and the size of your Mortgage in Principle (MIP).

If your MIP is £500,000 and you’re purchasing a property worth £300,000, then a home improvement loan is unlikely to be a major issue, though it’s important to note that taking out credit before a mortgage application is generally not recommended.

It would be a good idea to speak with a mortgage advisor (rather than the estate agent) to understand how this may affect your application. They can give tailored advice based on your full financial picture.

Meogom:
Hello guys. Please I need your input.
So we've agreed 25th July for completion, and solicitor say contracts would be exchanged this coming week, no chains.
We went ahead to buy some household stuff from curry's on finance (£1640 @0% interest for 12 months). Now estate agent asked that hope we've not gone buying stuff, told her we bought some stuff, she said she was going to get in touch with Barclays to ask if it's a problem, but that we should tell the solicitor to hold on the exchange till we get feedback.
Abeg what should we do in this instance, cos I don't want to tell the solicitor to hold on.
Whats the implications and the worst case scenario, Could Barclays withdraw the mortgage offer cos of this?
We have some funds available for setting up the house, do we just use this to pay the credit?

There is usually a condition on your mortgage offer from barclays asking you not to take any additional loan and pay off any outstanding loan within a number of days. But I think it applies after completion and I dont think Barclays has much control over that once completion is done. However, taking on new loan during the process could be a red flag to your willingness to comply but in this case its not material.

The probable worst is a hit on your affordability calculation which means the bank reduces the max amount they can borrow you.

Based on that number, the bank may consider the impact of an additional £136 monthly outgoing to your affordability calculation.

Are you borrowing the maximum amount Barclays can offer? If not, you may be able to preceed without any impact.

You may be better off paying it outright and letting the mortgage broker know that you have settled it.

D1uncle:
A hard search has already been recorded on your account, and the bank will see it regardless. At this point, what matters is how it may impact your mortgage application. The key factors to consider are the amount you’re borrowing and the size of your Mortgage in Principle (MIP).

If your MIP is £500,000 and you’re purchasing a property worth £300,000, then a home improvement loan is unlikely to be a major issue, though it’s important to note that taking out credit before a mortgage application is generally not recommended.

It would be a good idea to speak with a mortgage advisor (rather than the estate agent) to understand how this may affect your application. They can give tailored advice based on your full financial picture.

Thanks guys. It's not a new credit card, I've had that card but not used it for over year, would that still show on a hard search? Do you think payoff will help in this case?
We are not borrowing maximum amount, there is a difference of about 32k between max and what we are borrowing.
Mortgage advisor was the one that suggested we tell the solicitor to hold the exchange till she hears from Barclays. The process has been moving sweetly and swiftly, don't want this my mistake to be a problem.

Fred2020:
There is usually a condition on your mortgage offer from barclays asking you not to take any additional loan and pay off any outstanding loan within a number of days. But I think it applies after completion and I dont think Barclays has much control over that once completion is done. However, taking on new loan during the process could be a red flag to your willingness to comply but in this case its not material.

The probable worst is a hit on your affordability calculation which means the bank reduces the max amount they can borrow you.

Based on that number, the bank may consider the impact of an additional £136 monthly outgoing to your affordability calculation.

Are you borrowing the maximum amount Barclays can offer? If not, you may be able to preceed without any impact.

You may be better off paying it outright and letting the mortgage broker know that you have settled it.

Thank you.
We're borrowing 32k less than the maximum.
The plan was even to use the deposit we get from our current landlord towards the loan and pay off the balance from our salaries.
I asked the mortgage advisor if we should pay off the loan, but she said we should hold on for a feedback from Barclays.
But I don't want to tell the solicitor to hold on.

Meogom:
Thank you.
We're borrowing 32k less than the maximum.
The plan was even to use the deposit we get from our current landlord towards the loan and pay off the balance from our salaries.
I asked the mortgage advisor if we should pay off the loan, but she said we should hold on for a feedback from Barclays.
But I don't want to tell the solicitor to hold on.

I seriously don't understand your mortgage advisor. Are they working for you or someone else?
While its not a good idea to take out credit before completion, yours has already been done. Besides its not a new credit application and it'd be a few days- weeks before your new credit balance feeds thru to your credit report.

Some lenders do make a final check before exchange but I don't see how it's the role of your mortgage advisor to raise issues where there are none.
Given what you've said, this should likely be a non-issue. Worst case, Barclays might ask you to repay it if it'd affect your affordability. If you have enough room, then they may overlook it.

I would seriously be weary of such a mortgage advisor

jedisco:
I seriously don't understand your mortgage advisor. Are they working for you or someone else?
While its not a good idea to take out credit before completion, yours has already been done. Besides its not a new credit application and it'd be a few days- weeks before your new credit balance feeds thru to your credit report.

Some lenders do make a final check before exchange but I don't see how it's the role of your mortgage advisor to raise issues where there are none.
Given what you've said, this should likely be a non-issue. Worst case, Barclays might ask you to repay it if it'd affect your affordability. If you have enough room, then they may overlook it.

I would seriously be weary of such a mortgage advisor

I am quite confused as well.

The initial message D1uncle posted was that it was the state agent (which implies the seller's rep, unless it was a typo) who asked if they hadn't bought things. What's the business of the estate agent with that and why would they be getting in touch with OP's lender?

OP, I think you should contact both your mortgage advisor and the estate agent and find out if they've contacted Barclays. If they haven't just tell them that you're paying everything off and clear it since you have the cash.

If they haven't, then jury wait and see what Barclays says. I think it's an extremely minor issue especially since it wasn't a new line of credit, and won't cause any delays. Barclays will likely just say you should pay it off, if that.

Meogom:
Hello guys. Please I need your input.
So we've agreed 25th July for completion, and solicitor say contracts would be exchanged this coming week, no chains.
We went ahead to buy some household stuff from curry's on finance (£1640 @0% interest for 12 months). Now estate agent asked that hope we've not gone buying stuff, told her we bought some stuff, she said she was going to get in touch with Barclays to ask if it's a problem, but that we should tell the solicitor to hold on the exchange till we get feedback.
Abeg what should we do in this instance, cos I don't want to tell the solicitor to hold on.
Whats the implications and the worst case scenario, Could Barclays withdraw the mortgage offer cos of this?
We have some funds available for setting up the house, do we just use this to pay the credit?

please dont do finance till after completion. They might do final checks and your finance might lead to worst case scenarios. To be on the safe side cancel your finance now.

Thank you all for your suggestions and advice on this tread. We finally got successful email on contract exchange after we made our deposit payment. Now waiting for completion slated for October and an extention till December max.
Got a 4.52 rate @ 5 fixed from Barclays.

Please advise is needed on the following:
1.When should we start the Building insurance process?
2. What should we avoid to make sure our offer is not rescinded prior to completion?
3. What are the things look out for on completion and when collecting keys.

Thank you so much for all your contributions.

AnonymousAdmin:
Thank you all for your suggestions and advice on this tread. We finally got successful email on contract exchange after we made our deposit payment. Now waiting for completion slated for October and an extion till December max.
Got a 4.52 rate @ 5 fixed from Barclays.

Please advise is needed on the following:
1.When should we start the Building insurance process?
2. What should we avoid to make sure our offer is not rescinded prior to completion?
3. What are the things look out for on completion and when collecting keys.

Thank you so much for all your contributions.

- Until you exchange, property is NOT yours... But check for quotes.......
- Avoid the loan market.....
- On completion, ensure all terms agreed, was honoured. If white goods/furnitures are staying with property, ensure this are all documented.....

Thank you so much for the info.

Meogom:
Hello guys. Please I need your input.
So we've agreed 25th July for completion, and solicitor say contracts would be exchanged this coming week, no chains.
We went ahead to buy some household stuff from curry's on finance (£1640 @0% interest for 12 months). Now estate agent asked that hope we've not gone buying stuff, told her we bought some stuff, she said she was going to get in touch with Barclays to ask if it's a problem, but that we should tell the solicitor to hold on the exchange till we get feedback.
Abeg what should we do in this instance, cos I don't want to tell the solicitor to hold on.
Whats the implications and the worst case scenario, Could Barclays withdraw the mortgage offer cos of this?
We have some funds available for setting up the house, do we just use this to pay the credit?

Thanks guys for all the suggestions.
Finally heard back from Barclays via the mortgage advisor. Was given two options 1) Pay off the credit 2) Have the mortgage offer reevaluated based on the new available info. We opted for the 1st option and have paid off, so hopefully things should move on as planned.
Thanks once again for your input, greatly appreciated.

Meogom:
Thanks guys for all the suggestions.
Finally heard back from Barclays via the mortgage advisor. Was given two options 1) Pay off the credit 2) Have the mortgage offer reevaluated based on the new available info. We opted for the 1st option and have paid off, so hopefully things should move on as planned.
Thanks once again for your input, greatly appreciated.

This is a very key information. I lost 11 points on my credit score last month simply because I didn't use my credit card at all... Now I'm wondering if I can draw the credit line while expecting decision from the mortgage lender? Barclays too, seems Barclays love immigrants.

ehizario2012:
This is a very key information. I lost 11 points on my credit score last month simply because I didn't use my credit card at all... Now I'm wondering if I can draw the credit line while expecting decision from the mortgage lender? Barclays too, seems Barclays love immigrants.

When you use your card as you would normally, pay up the balance monthly leaving no unpaid balance.

The bank is less concerned about your credit card debt if it is fully paid monthly.

Fred2020:
When you use your card as you would normally, pay up the balance monthly leaving no unpaid balance.

The bank is less concerned about your credit card debt if it is fully paid monthly.

Thank you. Our limit is currently 1500 each, we're thinking of drawing like 300 each for this month. That drop in credit score was annoying.

Hi guys! Will my offer be accepted if I have like 3k left to complete my deposit. I have seen a property that meets all my criteria and thinking of going for it but I have 3k left to complete the deposit but very certain to complete the deposit before the contract exchange date. Will the estate agent request a proof of the full deposit amount before accepting my offer?

NewT123:
Hi guys! Will my offer be accepted if I have like 3k left to complete my deposit. I have seen a property that meets all my criteria and thinking of going for it but I have 3k left to complete the deposit but very certain to complete the deposit before the contract exchange date. Will the estate agent request a proof of the full deposit amount before accepting my offer?

You don’t need to tell the estate agent that your deposit is not complete. Just provide a mortgage in principle along with the ID check. It’s your mortgage advisor who needs to know about the deposit, and that depends on how long you need to save the remaining balance, bearing in mind that there are other associated costs.