How to buy your first home

6. Formal offer for your new house

Formal offer for your new house

A formal offer is a document a lender provides that states that they agree to lend you the money to buy your home. This happens shortly after your mortgage is approved and will be sent directly to your solicitors to carry out the legal work.

Our team will go through the formal offer document to make sure it’s exactly what you need, and a copy of the document will be available in your document store in your account. Generally a formal offer is valid for 6 months, which gives you time to arrange everything and move into your home. We’ll keep an eye on the deadline for you and we can apply for an extension with the lender if need be.

Completing the legal work

Having a good solicitor is so important to the homebuying process and keeping your application moving forward. It’s their job to assess if it’s legally advisable for you to buy your new home, so you can move in with peace of mind.

At this stage it’s your solicitor’s responsibility to keep you updated on the progress of your application. Once again we’d recommend O'Neill’s, as they have agreed to keep their customers up to date through the app and provide us with regular updates. We’re more than happy to work with a solicitor of your choice, but they will be responsible for keeping you updated on the progress of your legal work.

For more information on the legal work that is carried out at this stage, read through our blog on solicitors.