Three Weeks into my House Purchase!

alipops1986

Good Morning All!

Just thought i would update you on my house purchase now i have some time to do so :beer:

Basically, in process of buying 2 bed end terrace in lovely ickle cul-de-sac, got it for the bargain price of 84k [was 113k 12mnts ago, and is fully refurbished inside!]. Long story but nrly sold to rental company until tenants who were livin in the house pulled out, so then the rental company pulled out of the sale. Thus, vendor was frustrated and just wants to sell it as he's moved away!

One of the agreements was the sale was:
- Taken off market.
- Completed in 4wks [Vendors request].

Nehow, as my parents are buying it, then im going to remorgage it in 6mnths to pay them back. From September i will be earning 21k, so can get enough of a morgage, at moment i only earn 15k.

The money is pretty much all sorted through natwest, just awaitin their paperwork, frustratingly it was a wk ago it was approved and still no paper work. Dad is going to chase this up again on Monday, however, once paper work is signed it should be in account in 2-3 working days.

Otherwise, i've received HIP pack and inventory list and instructed solictor to complete a survey and have paid for this.

So.......do we sound on track consider it's going to be week four from Tuesday?!

benjo

Sounds like an exciting time for you - goodluck on your house purchase. I couldnt relax until I had the mortgage offer in writting in my hands and the exchange date had passed. Hope all goes well for you.

picardygirl

alipops1986 wrote: »

Good Morning All!
So.......do we sound on track consider it's going to be week four from Tuesday?!

Is the mortgage company, ie Natwest instructing the solicitor, has the survey been done yet? As already said, i wouldnt relax til the mortgage offer is on the table.

But the other thing is, ask your solicitor what else is outstanding, all the searches done? Sometimes a small query can take ages to sort out, so the only person to answer your question really is your solicitor - good luck and hope all goes well xxx

alipops1986

picardygirl wrote: »

Is the mortgage company, ie Natwest instructing the solicitor, has the survey been done yet? As already said, i wouldnt relax til the mortgage offer is on the table.

But the other thing is, ask your solicitor what else is outstanding, all the searches done? Sometimes a small query can take ages to sort out, so the only person to answer your question really is your solicitor - good luck and hope all goes well xxx

Searches and Surveys are all in the process of.
The money is being released on my parents house as they have no mortgage, that seems to be the only thorn in the issue at present.

picardygirl

As the searches and surveys are "in the process of" , in all honesty dont think you've got a chance of exchanging this Tuesday, assuming it is this Tuesday coming that is the forth Tuesday.

Have you asked your solicitor what is outstanding, they are probably holding tight til firm mortgage offer is in place.

rick9525

The house I just bought was repo a had the same 4 week stipulation. Due to 1 issue (retrospective concent of the conservatory which other side paid for £265) it took nearer 6 or 7. If they see your serious then its unlikely they will pull the rug from under you as it could then take them weeks to sell unless they have a big new offer.

I also borrowed off parents but they paid cash so was able to get a £5000 discount when the previous guy buying it had to pull out due to morgage issues. Ironically it was his house I was going to buy before this one which is on the same cul de sac but was smaller.

Good luck