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  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,506Posts
    • 9,216Thanks
    happytails
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 5:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 5:20 PM
    So the other thread has gone awol so thought i'd start a new one! It was keeping me sort of sane during the house buying/selling process!

    A place to document your timelines and discuss the triumphs and woes of moving house!




    My timeline -
    Offer received and accepted on our house 17/07
    Offer made and accepted on the house we want 17/07
    Solicitors Instructed 17/07
    Meeting with mortgage advisor, all docs given 18/07
    Mortgage application submitted to Nationwide 19/07
    Documents picked up and filled in from Solicitor 19/07
    Documents and ID returned to Solcitor 20/07
    Valuation booked 20/07
    Solicitor composes draft contract & starts local searches 25/07
    Valuation carried out 26/07
    Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
    My buyers valuation carried out 27/07
    Mortgage offer given 27/07

    Sarah

    Official MoneySavingExpert.com Insert:

    Hi all! For more help with your move read our guide:

    50+ House Buying Tips
    Last edited by MSE Andrea; 06-10-2017 at 11:50 AM.
    Sarah,

    Trying to move up the house ladder in 2017, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 83
    • JoJo1978
    • By JoJo1978 30th Nov 17, 10:54 PM
    • 180 Posts
    • 175 Thanks
    JoJo1978
    Hey Tunny, congrats and welcome to the "waiting room"!
    : )
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • tgirl
    • By tgirl 30th Nov 17, 11:02 PM
    • 52 Posts
    • 31 Thanks
    tgirl
    Just a quick update one week on from completion last Friday...what a week! Completion went smoothly and the solicitor called around 10:30 am saying keys can be released. Had a bit of a made rush trying to empty the old house by the 1pm deadline. Ended up storing stuff in the garage and giving in the key with the promise of moving the rest of stuff later in the day. All very stressful but glad it's over now.

    Really enjoying the new house. Previous owners left loads of instructions and everywhere was nice and clean with keys labelled etc. By Sunday morning the majority of stuff was in its place.

    Good luck to everyone completing their purchase tomorrow xx
    • Suman170
    • By Suman170 30th Nov 17, 11:44 PM
    • 5 Posts
    • 2 Thanks
    Suman170
    I have recently received a mortgage offer, it however has the following special condition attached:

    "This Offer of Advance is made subject to all debts declared as being repaid by the Applicant(s), being settled in full on or prior to completion" Leander is Leed building society and Leander is aware of our exiting debts which is a hire purchase.. I really don’t know what to do.. the solicitor hasn’t mentioned anything about the condition of the offer. Mortgage advisor saying it just standard wording they don’t require evidence but I don’t want to risk it.. any past experiences from anyone would be great to share. Btw It’s shared ownership scheme

    Thanks
    • Cheery Daff
    • By Cheery Daff 1st Dec 17, 12:08 AM
    • 7,845 Posts
    • 37,915 Thanks
    Cheery Daff
    Welcome Tunny and suman, and congratulations tgirl!

    No idea about your conditions I'm afraid Suman, perhaps best to check with your solicitor - I'd be wary too. We were told lender wanted my student loan paid off before completion and I had to provide proof that I had the funds available (which fortunately I did). Broker said I didn't need to do it yet, but I did anyway (didn"t bother telling them or the lender) - and the mortgage offer doesn't mention it at all!

    Annoying really - student loan comes out of wages before I get them so I don't miss that money each month - but I could have done with £4k of savings...

    However I absolutely did NOT want to get to the end having not done it and be asked for proof (and then waiting the inevitable weeks for the student loans company to get its act together).

    We're going with Leeds too by the way
    Saved for house move: £16,000
    • HappyLassie13
    • By HappyLassie13 1st Dec 17, 9:26 AM
    • 25 Posts
    • 60 Thanks
    HappyLassie13
    Just an update of my ongoing process..

    Probate has finally been granted on the house i am buying!!

    Just contracts to sign etc and all stations go!
    • Flutterbat17
    • By Flutterbat17 1st Dec 17, 9:42 AM
    • 66 Posts
    • 62 Thanks
    Flutterbat17
    Oh so surprise surprise we find out our Solicitors underling who deals with all the paperwork is away this week and after a sturn email from me they have ‘found’ the paperwork I was yet to sign!! Still won’t answer the phone though.

    So maybe we can move forward after two weeks of papers faffing that should have been sorted weeks ago had they not lost it. Rant over!

    Good luck to everyone completing or exchanging today/soon
    • JoJo1978
    • By JoJo1978 1st Dec 17, 10:33 AM
    • 180 Posts
    • 175 Thanks
    JoJo1978


    Game. On

    Just came off a very productive call with vendors. Planning to exchange Monday.

    We’ve got a “sitting tenant” in the form of their cat. Which, for me, is the icing on the cake! <Must not get too attached. Must not get too attached.>

    That champers will remain on ice until the deal is sealed though.

    Have a good weekend all!
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • Littlebobo1981
    • By Littlebobo1981 1st Dec 17, 10:37 AM
    • 86 Posts
    • 56 Thanks
    Littlebobo1981
    Yayayayayay!!!!
    • Brewerspride
    • By Brewerspride 1st Dec 17, 11:24 AM
    • 44 Posts
    • 52 Thanks
    Brewerspride


    Game. On

    Just came off a very productive call with vendors. Planning to exchange Monday.

    We’ve got a “sitting tenant” in the form of their cat. Which, for me, is the icing on the cake! <Must not get too attached. Must not get too attached.>

    That champers will remain on ice until the deal is sealed though.

    Have a good weekend all!
    Originally posted by JoJo1978
    Does this mean you'll be able to complete on your sale/purchase on the same day now?
    • JoJo1978
    • By JoJo1978 1st Dec 17, 11:36 AM
    • 180 Posts
    • 175 Thanks
    JoJo1978
    Yes it does Brewerspride ��
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • Littlebobo1981
    • By Littlebobo1981 1st Dec 17, 11:44 AM
    • 86 Posts
    • 56 Thanks
    Littlebobo1981
    ..Experiencing some radio silence here at the moment, since i complained about the issue with the valuation my broker who ALWAYS responded to me pretty much asap has gone silent, bank wont talk to me so now i'm loath to proceed until they fix their error ..GRRRRRR

    Not much else we can do just a waiting game !
    • Katapolt
    • By Katapolt 1st Dec 17, 12:01 PM
    • 69 Posts
    • 62 Thanks
    Katapolt
    Ive cleared all the conditions i wasnt sure about on the mortgage, and now i just have to wait (and hope) that my boss emails the lenders to confirm ive passed my probation a bit early.

    I know its cheeky, but were talking 10 days early, and it means i can exchange before christmas!

    Please cross everything for me that hes feeling generous!
    FTB 2017
    Currently dealing with a Quarter Life Crisis
    • MrsT88
    • By MrsT88 1st Dec 17, 2:25 PM
    • 4 Posts
    • 3 Thanks
    MrsT88
    Bet yours hasn’t been as exciting as mine.....
    Offer made and accepted from my buyer- 02/08/2017
    Offer made and accepted to our vendor- 02/08/2017
    Solicitos instructed 03/08/2017
    My Mortgage offer 03/09/2017
    Buyers lender santander requests structural report 10/09
    Structural report completed 18/09 offer made by Santander 01/10 with conditions that the same insurance policy is taken and they pay out in the first six months If subsidence occurs (even though no subsidence was identified)
    05/10 Santander recieve requested information.
    01/11 Santander reject mortgage offer
    05/11 buyer instructs new mortgage application through broker
    22/11 valuation completed now waiting for written mortgage offer however may need a damp and timber report (there is no visible damp in the property might I add....)


    I am currently losing the will to live!!! Please give me any advice!!
    • JaneyLouWho
    • By JaneyLouWho 1st Dec 17, 3:49 PM
    • 75 Posts
    • 30 Thanks
    JaneyLouWho
    Woohoo - Our environment agency flood reports confirm that the pretty river at the back of the field behind the house we are buying hasn’t ever flooded the property, and only twice broke its banks and flooded the field since records began (despite our town being majorly flooded in 2012 that had no impact).
    Insurance is go!
    Now we wait for the chain to form. Ideally, this will take a little bit of time as although we are technically the bottom of the chain (currently renting) my mum is selling her house and giving us some of the proceeds for our deposit - she can raise the funds by other means if needs be, but we’d all rather she didn’t have to, so I’m not chasing the EA for info about the chain in case it puts the wind up anyone. But by the same token, I’m dying to know!!
    How long did it take for chains to form for those of you nearing exchange?

    Congrats to all making progress, sending a virtual vino to all those still waiting!
    • Cheery Daff
    • By Cheery Daff 1st Dec 17, 4:18 PM
    • 7,845 Posts
    • 37,915 Thanks
    Cheery Daff
    Crikey MrsT, what a palaver! No advice sadly, just sympathy...

    JaneyLouWho - ours formed relatively quickly with us in the middle. We'd found and offered on a house, but they wouldn't take it off the market til we sold ours. Put ours on the market, had 15 viewings and several offers, and accepted one after a week. BUT they had to sell theirs - straight on the market, and they'd accepted one (from a first time buyer) within about 10 days. Then we decided against the house we'd offered on and it took us about 10 more days to find another one, which was empty, so the chain was complete :applause:

    So we offered on our original one right at the start of July, our house on market on 6th, then chain was complete on 9th August, so around a month in total, not bad going.

    (of course we later lost the bottom of the chain and had to find a new one, which has taken dead on a fortnight, but that's a different story... )

    Really depends how long it ends up being - our chain is only 4 long (FTB - our buyer - us - empty house). Probably depends how fussy your sellers are too! Good luck!
    Saved for house move: £16,000
    • juniordoc
    • By juniordoc 1st Dec 17, 4:33 PM
    • 235 Posts
    • 202 Thanks
    juniordoc
    We've completed and got our keys! We are FTB moving from rented so no mad rush to move which is a relief as I'm exhausted from a full-on week at work.
    It's all very surreal, waiting until the other half gets home from work so we can enjoy the bubbly from the estate agent and a takeaway!
    Thanks all for the support along the way
    • JoJo1978
    • By JoJo1978 1st Dec 17, 5:43 PM
    • 180 Posts
    • 175 Thanks
    JoJo1978
    Janeylouwho that's great!

    Chains can form really quickly, especially if people have been waiting for an acceptable offer for a while. Our chain of 5 formed quite quickly from the bottom up:

    * 5 days from market to offer on ours from someone with nothing to sell
    * +12 days for us to put an offer in. Would have been quicker but we were waiting for it to come back to mkt
    * +3 days for our vendors offer to be accepted. They had put it in back in April though! So were already a mini chain
    * +5 days for final link to form.

    So about a month to come together during which time legals were started. It took about another month and a half for the slowest in the chain to be ready to exchange. But it fell over on the day due to one link withdrawing!

    The bottom 2 links have each broken the chain to keep it going below the "problem." We did it, now our vendors have chosen that route too and are moving out before they find somewhere else.

    So chains may form quickly or slowly, the conveyancing can slow it down and people's unpredictability adds an element of tension.
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • FamilyOf4
    • By FamilyOf4 1st Dec 17, 5:49 PM
    • 1 Posts
    • 1 Thanks
    FamilyOf4
    Hi new here, were in the process of buying a new house. Learning as we go didn’t realise how stressful it would be.
    Anyway we found our dream house a few weeks ago sellers where happy to wait for us to sell shortly after we accepted an offer on ours sent our paperwork last week valuations getting done beginning of next week. I’m hoping we hear after the valuation?
    • Cheery Daff
    • By Cheery Daff 1st Dec 17, 6:02 PM
    • 7,845 Posts
    • 37,915 Thanks
    Cheery Daff
    Congratulations juniordoc! Glad you got there in the end

    Welcome Familyof4 Have a read back through this thread if you haven't already - that might give you some idea of the order things happen in (and also all the things that can go wrong... so maybe don't read it if you're easily scared! )
    Saved for house move: £16,000
    • SassySaver88
    • By SassySaver88 1st Dec 17, 6:17 PM
    • 38 Posts
    • 21 Thanks
    SassySaver88
    I wanted to say I am so glad to be finally here....

    Got a long awaited phone call from the broker today so say our Mortgage Offer has been sent and we should get it in the post next week

    Our homebuyers has been done and we're aware of the bits we need to do once in
    All enquiries sent just wanting on the vendors now

    I just wish I knew when exchange was likely to happen lol
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