Beacon Mortgage Advice! Help!

*Storm*

Hi Es

I know that my buyers solicitor applied for the mortgage funds to be released yesterday - that is how I found out we have got authorisation to exchange tomorrow....... hmmmmmmm!
So they authorised the exchange BEFORE the second survey! LOL!

Anyway - I know my buyers have a 30k deposit and are borrowing roughly 150 I think.

Good luck with your survey.... who said house prices have gone down?? They have been rising steadily since July according to the financial bods!

Fingers crossed for you - I'll let you know if we exchange tomorrow. BTW........ the woman from the one I want has said that IF we exchange by 5pm tomorrow, I can still have her house....... if not, she's taking it off the market! I have a feeling I'll be renting a tent at Xmas!!! :rolleyes:

honeymonster19

Hi Everyone!

All exchanged now and got a key undertaking so can start making use of my paint pod over the weekend lol!

I hope everything goes okay for you all!

Storm, Cherryontop and NAM thanks for your kind wishes throughout and I hope that you all grit your teeth and continue through the process as it will all be worth it even though it may not feel like it at the minute- I'll keep my fingers crossed for you all.

Aimz- I thought the whole point of a forum was to express bad times as well as good and to chat through concerns whether it be about the conveyancing process or anything else relative and it provides a bit of support and light relief if you like to get things off your chest. Anyway I hope all goes well for you.

x

expertseeker

Thats great honeymonster, when you actually completing is it still monday, thats a quick exchange and complete if thats right!
thanks for posting goves us all hope!

expertseeker

Thanks storm, I think mine are borrowing 85k, which means they got a deposit of 148k so its only just under 37% ltv, so if they defaulted beacon would be well in profit!
yes our house has gone up considerably in value cos we in the south east, so its gotta to be delaying tatics, pray to God that we aren't being pushed into december!
Please let me know if your exchange goes ahead I will be praying for you that it does. Take care.

honeymonster19

Hi Expertseeker

Yes completing Monday as originally it was going to be simultaneouos exchange and complete, but got permission to exchange yesterday as funds will def be with my sols on Mon ready for completion- been a long process but am so excited now!

x

expertseeker

Hi honeymonster, weve been told we have to have 2 weeks between exchange and completion funny that!
Oh well pleased for you though enjoy your new home.

luckyfool

Beacon Homeloans demand 7 working days notice between a request for funds to B Legal and release. That could be where the two weeks is coming from.

expertseeker

Oh ok thanks lucky fool

expertseeker

luckyfool do you think that as my buyers lenders beacon want a third valuation cos first out of date that we are nearly there, or do you think they are trying to delay us till december, your comments very welcome thanks!

*Storm*

YAY Honeymonster...............Big, big congratulations!!! I'll raise a glass for you tonight!!! :beer:

ES.......... well....... we were NEARLY there yesterday! B-Legal/Beacon gave written authorisation/permission at 2.30pm to exchange yesterday!!! YAY! With completion being Mon 2nd November, but we cant move til the 3rd as apparently Beacon can take a full working day to transfer funds. (So yes, our buyers are in line for Novembers budget, I truly believe Beacon knew this in July when it all started)
Everyone agreed........... first 4 solicitors ready to exchange.... then at 4pm, the last solicitor in the chain went home .......:mad: Aaaaaaaarrrggghhh! So it WILL defiantely exchange on monday morning apparently.

Just had a phone call whilst typing this............... The last in the chain refuse to move on a tuesday as its not 'practical!'....... Good grief!!!:eek: So it will now be friday 6th November!

The woman from the one I am buying has agreed...... thank God - as she was adamant she was pulling out if we didnt exchange by 5pm yesterday - I think the solicitor managed to appease her with the 9am Monday morning exchange! Whew......... talk about cutting it fine! So keep your fingers crossed that it all happens! (I'm still not holding ny breath!)

What is happening with your 3rd survey? It HAS to be a delaying tactic.......... again........ as Beacon agreed to release my buyers funds on weds........ the day BEFORE the second survey. So it really just was a pointless exercise!

Have you heard anything more? Have you still got the house you want? I am praying and keeping my fingers crossed that we both exchange and complete in Novembers budget.
Good luck and let us know if you hear anything.
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