mikeyb10supra Posted August 3, 2011 Share Posted August 3, 2011 Have recently accepted an offer on my place and had another offer accepted on our future house. We are in a fairly good position in that the people we are buying off are buying a new build so there is no onward chain, and our buyers are first time buyers. I have just had my mortgage agreed and survey arrangements getting underway, however our buyers are apparently waiting for an employee reference as a final check before their mortgage is approved and a survey can be booked?? I have been waiting for at least a week for this reference and now starting to get worried that something is a miss. They had a mortgage agreed in principle and have instructed there solicitors who have been in touch but this reference seems to be delaying things. Going to call my estate agents again this arvo and see whats what, but im starting to get worried given our baby is due in December and want to get things sorted fairly soon Anyone had a similar experience? Quote Link to comment Share on other sites More sharing options...
Charlotte Posted August 3, 2011 Share Posted August 3, 2011 As a previous conveyancer this was a fairly common occurence - with references (if that's what it really is) and stuff it all takes time to filter from the employer to the bank or mortgage broker, then the correct department. Just keep chasing if you can and try to relax about it. When you say your sellers are buying a new build - is it actually built yet/near completion? Just wondering because having worked for developers they are mostly always the stumbling block in chains. Quote Link to comment Share on other sites More sharing options...
mikeyb10supra Posted August 3, 2011 Author Share Posted August 3, 2011 As a previous conveyancer this was a fairly common occurence - with references (if that's what it really is) and stuff it all takes time to filter from the employer to the bank or mortgage broker, then the correct department. Just keep chasing if you can and try to relax about it. When you say your sellers are buying a new build - is it actually built yet/near completion? Just wondering because having worked for developers they are mostly always the stumbling block in chains. yeah I have heard this about new builds. The development is already built as far as I am aware. My real concern is just with my buyers What would a reference be used for? To verify a person has worked at the company or earns x amount each month etc? If its to do with earnings and overtime/bonus payments that could effect the outcome. I am really hoping not though Quote Link to comment Share on other sites More sharing options...
Charlotte Posted August 3, 2011 Share Posted August 3, 2011 It's not really specific enough to take a guess. Perhaps if your buyer didn't have any payslips or whatever they may need to verify his job role etc but it could be to do with actual hours and overtime. They'd have to have a survey before they received a formal offer of mortgage too so even after this prelimary stuff they'd have to wait for the results of the survey which could take more than a couple of weeks. Does your estate agent have any further info? Quote Link to comment Share on other sites More sharing options...
mikeyb10supra Posted August 3, 2011 Author Share Posted August 3, 2011 It's not really specific enough to take a guess. Perhaps if your buyer didn't have any payslips or whatever they may need to verify his job role etc but it could be to do with actual hours and overtime. They'd have to have a survey before they received a formal offer of mortgage too so even after this prelimary stuff they'd have to wait for the results of the survey which could take more than a couple of weeks. Does your estate agent have any further info? All I know from the EA is that this employee reference is holding up their lender getting a survey sorted. Can help feeling there is something a miss Quote Link to comment Share on other sites More sharing options...
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