The FTB club

Framps

JellyIcecream wrote: »

I'm going to give it till thurs at the latest before i ring up and ask them where the hell the report is!
As it stands, if the report is ok, we are hoping to move on quickly with things and hopefully be looking at exchange by end of month? is that too optimistic?
also - how long can we complete after exchange?
so many new things - so stressed?!?!?!

HELP!

Sounds like you have got it all sussed out - definitely chase the survey just in case.

From what you have said it would seem to me that you should be able to exchange by the end of the month. Have you got your building's insurance sorted out? Start researching now if not - the HB report may adjust the details but well worth a look now.

Time from exchange to completion depends on whether or not there is a chain and what the vendor's situation is. It can be same day, although normally it is somewhere between 1 and 4 weeks.

We exchanged today and complete in 4 weeks - finally!! :j

kirstypea

Over 6 months since we made our mortgage application (thank god for extensions, I could have cried if we'd lost our 5yr 3.99% rate!) we finally exchanged yesterday! hooray! Now I can start planning my new kitchen :j

We complete a week on Monday but I can't give our months notice on our flat until November cos we've just missed the rent date, so it'll be a nice leisurely move in!

How are all the other FTBs getting on?

lilian1977

Hi - been dying to join this forum and now I can!

Myself and my fiancee are getting married in April and wanted to be in our first home by then. Put in an offer on 2nd October, had it accepted and then began the process of obtaining the mortgage. After a slow start from RBS, they have suddenly picked up the pace and today we have been told our mortgage offer letter is in the post!

So, now we need to inform our conveyor, arrange a survey etc etc.

Can I ask, do most people use the surveyor recommended by their bank or estate agent?

jade1986

jade1986 wrote: »

Received our mortgage offer today, and found out that the vendors have brought a property and the people they are buying off are going into rented.. so we should be all good for an October move!! :T

They accepted our offer on the basis that there was no rush on them to find a property.. and we were expecting Dec/Jan time.. it's all happening very quickly and things are running very smoothly!

Just wanted to say that further to the above, we exchanged on Wednesday and complete on 30th October.. 2 weeks today! :T

95% Mortgage as well.. it is still possible!

morg_monster

Hey i want to join in the fun!
We had an offer accepted on a house on October 6th. It was all very dramatic... we had been to see it on september 27th, our first weekend househunting! It had just come onto the market. It was everything we wanted, 3 beds, big garden, 3mins to station on a line into waterloo. We rang to arrange a second viewing on the monday, only to be told it had been sold that day! We were really gutted, which we thought was totally irrational as it was virtually the first house we saw. We're very logical people!

Anyway we moped about for a week, saw some other houses (not as good, of course!)... then last tuesday, had a phone call at work at 5pm. Their buyer's buyer had pulled out. Did we want to come and see it again? The vendors wanted to mend the chain without having to tell their vendors. We were both still at work, but ran to waterloo, just made the train and were at the house by 6pm. On viewing it again, we realised we still realy loved it, and didn't want to miss out again! There were already 2 other couples waiting outside for thier viewing appointment! We asked what the other buyer had offered, and offered the same right there and then (kind of awkward, we were whispering with the EA in the kitchen, the vendor is in the adjoining living room with CBeebies turned up trying not to eavesdrop!) Anyway we left the house and were sitting at the train station when we had a call saying they accepted. Woo!

Already had an AIP with Lloyds (their lend a hand product), so did the full application on Monday, the surveyor called us today, he is going round next Thursday.
The EA also rang today, we discussed moving dates. We told him that our notice day was the 14th for our flat (we're on a rolling tenancy). We'd like to move in before christmas but not really hugely fussed. He came back to us after talking to the vendors, they have proposed to exchange no later than november 14th to suit us! hooray! And then to complete a couple of weeks after that. So excited! I just hope everythign goes smoothly, I guess we'll find out after the survey. At least the chain is short (just 2 houses, our vendor's vendor has a property elsewhere already which they will move to whenever) Also worrying about the post strike complicating things!

But so happy!!! YAYYYYY!!! also anyone got any tips on how not to spend the whole day looking at furniture websites and ebay for bargains?!!!

kirstypea

Congrats to everyone with offers & completion dates! :beer:

morg_monster wrote: »

But so happy!!! YAYYYYY!!! also anyone got any tips on how not to spend the whole day looking at furniture websites and ebay for bargains?!!!

No tips, but I did pretend I was being constructive and made an online wishlist on Kaboodle under the pretence of saving myself time in future! Not sure if OH was convinced!
It gets harder once you exchange cos now I can actually buy stuff since I know we're definitely moving, but the angel on my shoulder tells me it would be silly to increase the cost of the removal quote by buying furniture in advance...
maybe just a vase or two.... :rotfl:

homehunter

Me next! After a fraught week we finally exchanged today - all parties legally contracted to complete on 3rd nov. Anyone who has been on the 'progress diary of an FTB' and 'FTB timeline diary' will know my relief at this news! Obviously won't be completely settled until the keys on in our hands but....it's going to be a good weekend :beer:

plum24

Hi everyone, i have been reading through you thread for the last couple of hours, so much advice it's great. My bf and i are looking at taking our first step onto the ladder in the next few months, i just wondered what kind of deposits you have all had, were saving at the moment, have almost £7000 put aside, i have seen a few of you say you managed to find 90% and 95% mortgages, do you think we need to save a lot more or are we nearly there?
Hope I'm not being too nosey asking how much you's had, all your help is much appreciated. Victoria.x

VKay

Victoria,

It depends a lot on what price house you think you'll buy! The bigger the deposit the better rate of interst you will pay on your mortgage.

We managed to put down more than 25% of the value but this took years of saving. In order to get a reasonable deal you should aim for 10% otherwise you will pay ridiculous rates.

plum24

Hi thanks for the reply, well have had a look locally, we looking for two bed house or flat, we don't really want to go above £100000, but in all honestly we'd like to stay below that, so a few more months saving for a 10% deposit but hey ho!
Can i also ask, is there any way of knowing if properties are repossions or do you have to pay a fee to these 'repo sites.'
As i say we are starting out so please excuse my lack of knowledge
Thanks again Victoria.