This is the advisor: https://linearfs.com/advisor/stephen-dillon/

It seems advisors are more recommended for newbies such as us than folks who have been in the housing market for years: https://www.unbiased.co.uk/life/get-smart/mortgage-adviser LL.B (Hons) - University of Derby
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Having bought and sold a few properties over the years the best advice I can give is to do your homework and trust nobody involved in the whole process if you stick to that principal you will be fine.
Good luck  94 Disco 300 TDI Gone
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I was a FTB in Lincoln in the early '70's. Did my own conveyancing on a mid 50's semi. Even though I was an established SNCO serving in the RAF the Halifax turned me down for a mortgage. My local (small) Lloyds branch introduced me to a new office of the "Anglia Hastings & Thanet" BS in town. Now they are the Nationwide, & after 2 moves, the mortgage was paid off in 2004 and we still bank with them.

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GundogSD4 wrote:

Having bought and sold a few properties over the years the best advice I can give is to do your homework and trust nobody involved in the whole process if you stick to that principal you will be fine.
Good luck

In a falling market (well dead would be a better description right now) there is a possibility that your mortgage provider may well restrict funds or query the valuation...this could lead to you having to offer a lower price to the seller (or fund the difference yourself).....that's gazundering. I would think gazumping is extremely unlikely right now.

There's a few article about the current housing market in the media over the last few weeks

Thanks for the input all. We are happy with the choices we have made thus far but I do acknowledge people's opinions. I don't want to digress too much though so getting back to the core of the topic, I think the more I read of the coronavirus impact on housing, perhaps the only gazumpers will be other first time buyers.

As for gazundering, I'm not sure my conscience would let me do it. I'd feel like a villain Unless of course forced to do it in the circs mentioned above. LL.B (Hons) - University of Derby
LOT (Lord of Time) - University of Gallifrey

I am not sure what effect the present medical/financial crisis will have on the Housing Market, but I suspect it will be big.

As this is your first purchase, I would advise you to take it slowly. If you were selling, as well as buying a house, then the price fluctuations would even themselves out. The timing of your purchase will save, or cost, you a lot of money.
Perhaps time now would be well spent in monitoring a few STC properties and see if they sell or return to market, this will give you an early indication of where the market is going.

You need a good solicitor, they are the most important link, and can cost you money if they don't deal with things efficiently and keep the other side moving along. As mentioned above, they are well regulated, but in my experience, not always that efficient in keeping costs down, so you need to ask around your friends and relations for recommendations.

Good luck, it can be stressful, nothing in my experience would help me guess what will happen as we return to 'normal'.

PS As for 'gazundering', you would be wise to warn seller that if they drag their feet, and the market falls, you may be forced to lower your offer as your mortgage pot gets smaller. It's reality, not chivalry, that should be your watchword. FL2 XS SD4 Auto 2010 2012-2017 (21k - 91k miles) (MY2011)
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Last edited by IanMetro on 30th Apr 2020 11:44 am. Edited 1 time in total

When I sold my first house we had an Italian couple come round and have a look. They said very little and thanked us and left but didn't sound very interested. A couple of weeks later my estate agent called to ask if we had sold the house privately as a solicitor in town had contacted them for some details as he was preparing the contract for the asking price. I said no and who is the mystery buyer, "Oh some Italian people I believe". It all went through OK but I could easily have unknowingly accepted an offer from someone else. Would that have been self-guzundering? Perhaps they do things differently in Italy? 3 x FL1 2 manual + 1 auto
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