I hate waiting
Printed From: OHbaby!
Category: General Chat
Forum Name: General Chat
Forum Description: For mums, dads, parents-to-be, grandparents, friends -- you name it! And you name the topic you want to chat about!
URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=24298
Printed Date: 04 October 2025 at 8:13am
Software Version: Web Wiz Forums 12.05 - http://www.webwizforums.com
Topic: I hate waiting
Posted By: lizzle
Subject: I hate waiting
Date Posted: 04 February 2009 at 5:23pm
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So after getting robbed, dad said he would help us buy a house - finally we are earning enough money to pay a mortgage. Anyway, we've been to the mortgage broker, all the papers are in and she said it would be 2-3 days. well, it;'s been 2-3 days and we haven't heard anything. Am soooooo hating this hanging out by the phone waiting (have already emailed once). sigh. we've found a house we want, and are dying to put in an offer, but want to have the finance confirmed first (i feel like we might jinx ourselves).
hate hate hate waiting |
Replies:
Posted By: FreeSpirit
Date Posted: 04 February 2009 at 5:43pm
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Fingers and toes crossed for you, Ihope you hear from the broker soon (and with good news) !! ------------- http://www.babysfirstsite.com"> 
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Posted By: myfullhouse
Date Posted: 04 February 2009 at 5:47pm
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I hate waiting for things like this as well. If I was you I would put in the offer subject to finance, if that is your only condition then the house owners will probably jump at your offer - I know, we just sold our house. Good luck ------------- Lindsey 
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Posted By: kebakat
Date Posted: 04 February 2009 at 6:49pm
| Yeah just put in a conditional offer anyway! |
Posted By: lizzle
Date Posted: 04 February 2009 at 7:52pm
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dad just rung...asking me when i needed the VITAL PIECE OF DOCUMENTATION THAT I SENT HIM LAST MONDAY!!!! Could be the reason the broker hasn't rung. am very very annoyed.
But have put in an offer - well kinda- they are selling privately so have sent an email saying we'd like to put in an offer. |
Posted By: jack_&_charli
Date Posted: 04 February 2009 at 8:15pm
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urgh! typical fathers!
good luck with the offer!! how exciting for you guys  ------------- http://www.alternatickers.com"> 
http://lilypie.com"> 
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Posted By: busymum
Date Posted: 04 February 2009 at 8:35pm
Liz, let me know if you need an Agreement for Sale and Purchase as I do conveyancing at my work. Just make it conditional on finance and you're good to go. While you're waiting, go check out the Council records  -------------  |
Posted By: myfullhouse
Date Posted: 04 February 2009 at 9:04pm
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Depending on where you live the council property bag should have almost all the same info as a LIM but at a fraction of the cost! ------------- Lindsey
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Posted By: Chickaboo
Date Posted: 04 February 2009 at 9:52pm
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I would put in an offer subject to finance and a lim report (even if you don't get one its another way out if needed)
And why go thru a broker??? If you contacted a bank direct you would of got better service (in most cases) and quicker. why have a middle man/woman who is getting commission to refer you to a particular bank/lending place. Its not always the best deal as some places (ie: Bnz) do not deal with brokers. Just my opinion anyhow. ------------- http://lilypie.com">  
876 |
Posted By: catisla
Date Posted: 05 February 2009 at 9:05am
I agree with this - we went to see a broker and he took a long time to come back with a mortgage offer which we weren't too impressed with. So the next lunch time my DH spent a couple of hours going back and forth between various banks and got a much better deal himself by playing them off against each other - takes a bit of effort but may be worth a try
ETA Oh - and good luck! hope the house comes through for you whatever happens with the mortgage! ------------- |
Chickaboo wrote:Posted By: clover
Date Posted: 05 February 2009 at 10:55am
| And bear in mind the brokers are usually always aligned with a particular lender (or two). They will usually present you with a few of options but will favour one lender and try and lead you in that direction. |
Posted By: caliandjack
Date Posted: 05 February 2009 at 11:07am
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In defence of brokers, Craig at Mortgage Link in Palmy was awesome. It didn't cost us a cent, and as 1st time borrowers it was easy. He gave us heaps of advice and different options. I highly recommend him. ------------- http://lilypie.com" rel="nofollow">   [/url] Angel June 2012 |
Posted By: Febgirl
Date Posted: 05 February 2009 at 11:31am
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Brokers also deal with financial institutions other than banks which you can't approach privately and often have lower interest rates than banks e.g. AMP. I would always use a good broker rather than trying to negotiate a deal myself.
(someone tell if if I'm wrong about not being able to approach the financial institute part though!) Good luck Lizzle! |
Posted By: Emily281
Date Posted: 05 February 2009 at 11:48am
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I have to agree about not going through a broker. We got a better deal from out bank than the brokers - what you have to remember is that the broker's don't charge you anything but they do get paid by the banks and some banks don't like dealing with them - alot of the special deals you'll get such as waiving fees or getting a special interest rate for 6 months or whatever you won't get through a broker.
And as for it taking so long - we changed one of our loans a bit a couple of weeks ago and like you was told it would take 2-3 days but it took a lot longer. When we contacted our loan manager he said that with the interest rates coming down so much alot of people are refinancing etc so they are just swamped and everything is taking longer because they have so many to do. ------------- TTC#1: Jan 07 Aug 08: Lap found and excised Stage 3 Endo Nov 08: 2nd lap clear - given OK to TTC after next AF |
Posted By: minik8e
Date Posted: 05 February 2009 at 11:53am
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Chickaboo - a LIM report is not a way out, especially if you don't get one. There are strict conditions relating to a LIM condition, including giving the vendor the opportunity to fix any problems that arise, and it has to be oreder within a set number of days of the contract being signed. So I definitely wouldn't recommend putting it in as another way out!!!
If you make it conditional on finance you should be okay, just make sure it states the finance is arranged on terms and conditions acceptable to the purchaser. Or, even better, sit down with a lawyer/legal exec and get the proper advice before signing anything
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Posted By: clover
Date Posted: 05 February 2009 at 12:45pm
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You can approach AMP directly, they will put you on to one of their advisers who will crunch the numbers for you. (I work for an AMP adviser business)
The catch is that most people wouldn't know who all the potential lenders are. |
Posted By: WRXnKids
Date Posted: 05 February 2009 at 3:02pm
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We always put subject to solicitors approval which is the easiest out there is but have been putting subject to finance and builders report as well (dads a builder so included council records etc in his inspection). Hopefully we will be cash buyer soon anyway so one less condition to add -------------   
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Posted By: caliandjack
Date Posted: 05 February 2009 at 3:15pm
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Liz you can go into the council and inspect the LIM report yourselves, or get a RPIE instead, PNCC charge a fortune for a LIM. ------------- http://lilypie.com" rel="nofollow"> [/url] Angel June 2012 |
Posted By: busymum
Date Posted: 05 February 2009 at 8:24pm
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In PN I would certainly recommend mortgage link - I suspect our banks are so used to dealing with brokers such as them that they don't try very hard to negotiate when you turn up on your own. Perhaps if you are the more bargaining type of person, you'd find it easier without the middle man.
PNCC reports are best viewed at the Council itself, just ask heaps of questions about the property and have a look at the building plans on microfiche. I think it cost us $10 to do that part (and the agent even helped organise it!) but a LIM was $300 last I knew. In most cases an RPIE will give all the info you need for half price. As far as Solicitor's approval goes, the clause is usually worded around the solicitor approving the title. That is very slim and you generally only get off in that way if there is say, a building covenant registered against the title. In certain areas (rural, new areas, etc), it's well worth putting in but in saying that, I have only seen one person try to get out of a contract for that reason! ------------- |
Posted By: lizzle
Date Posted: 05 February 2009 at 9:19pm
| thanks for the advice about the council records. the m/broker actually said the same thing, but wasn't sure how accurate that was. have accepted their offer - they are doing a sale and purchase agreement and will fax it over on monday. We wont' sign until the lawyer approves - and thanks Teresa, but DH had already organised a lawyer through a friend. |
Posted By: BaAsKa
Date Posted: 06 February 2009 at 5:11pm
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I rung a mortgage broker when we were buying and then i also went around the banks myself. I wasnt impressed with the MB because he rung 3 weeks after we had moved into our new house which was 2 weeks after we bought it so very slack in my opinion!.
I found the whole process unbelievably stressful and i was a complete mess until the bank rung to confirm money had been paid!!! 
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