Beacon Mortgage Advice! Help!

glitterjunkie

Hope nobody minds me jumping in... I am another Beacon buyer here nearly having a nervous breakdown! I don’t actually think I can cope with this anymore, it’s horrible We are FTB, and our offer was accepted 2nd July. Our mortgage offer was received from Beacon 3rd Sept - so far so good! But since then it has been one nightmare after another, and I think I am just going to buy a tent and go and live in a field somewhere after all this!

6th Sept - our solicitors phoned us and said they could no longer act for us because they were unwilling to comply with what Beacon had asked them to do??? To be honest we still have no idea exactly what the problem was here, as they were very vague about it all. We had a sleepless night worrying if we would be able to get new solicitors or not, thinking the whole thing was going to fall through, but thankfully managed to get one the next day. The conveyancing had to be started again from the beginning though, which set us back at least 4 weeks.

12th Oct - got a phone call from our new solicitors to say Beacon had asked for buildings insurance to be in place before they release our money, so we took this out and sent it to them - still no contract or completion date, but very excited, finally could see the light at the end of the tunnel! We are looking about 2nd Nov for our completion date.

Today (16th Oct) - we have just been told Beacon want a revaluation to be done!!! The last hour has been a nightmare of phone calls between us, our mortgage broker, the estate agents and our solicitor with nobody seeming to know what’s going on I’ve just been told that it’s been booked in for Tuesday morning, and I am just praying that they can report back to Beacon that same day so we can also exchange contracts on Tuesday… because if we don’t exchange by Tuesday then the person in the chain above our sellers is pulling out, so our sellers are going to lose the house they want to buy :eek: which I just feel awful about because it’s our fault! And I bet if that happens they will lose patience with us and put their house back on the market - I would if I was them I am sat here in tears, can’t believe that after all these months of waiting and planning it's all gone so wrong.

I know we’re in a better position than many people - we’re FTB so we’re not trying to sell our own house at the same time, and we’re living with parents so we won’t end up homeless…BUT I can’t take all this worry and stress! I love our new house so much, the thought that we might lose it is awful. There's nothing we can do until Tuesday now though, so will just have to sit tight and keep fingers crossed.

Will read back through this now, it makes me feel better to know we're not the only ones having nightmares! I hope everyone else gets sorted soon x

sweetpea10

Glitter junkie,
Just read your post and you must keep positive i know its hard if heavens forbid that you don't get the house just remember that it might be what's meant to be.
I will keep my fingers crossed for you good luck x

glitterjunkie

sweetpea10 wrote: »

Glitter junkie,
Just read your post and you must keep positive i know its hard if heavens forbid that you don't get the house just remember that it might be what's meant to be.
I will keep my fingers crossed for you good luck x

Thanks sweetpea! Me and OH are trying to relax about it, as there's nothing we can do about it until Tuesday - it's completely out of our hands now. It's just so hard when you've got your heart set on something isn't it And incredibly stressful! Will keep everyone updated anyway x

cherryonthetop

At last we have finally exchanged today for completion mid Nov, after months of waiting, waiting, stressing and more waiting!! No more - :eek: !!!

There is light at end ...just hang on in there everyone who's still waiting, tough as it may be.

Good luck to everyone xx

Carla0909

I also had to get an audit valuation it was carried out on the Tuesday and the clause was lifted from the offer on the Thursday so it is usually a 48 hour turn around. I have a completion date of the 2nd of November also, so it does happen eventually, you just have to be very, very patient.

sillysue

post deleted

glitterjunkie

Carla0909 wrote: »

I also had to get an audit valuation it was carried out on the Tuesday and the clause was lifted from the offer on the Thursday so it is usually a 48 hour turn around. I have a completion date of the 2nd of November also, so it does happen eventually, you just have to be very, very patient.

Thanks Carla - glad to hear yours is moving along again! Have you exchanged contracts now?

We don't have 48 hours to wait for our clause to be lifted though, gutted Our 2nd valuation is on Tuesday (could not get it any earlier) and the people further up the chain want exchange of contracts on Tuesday too! Otherwise they are threatening to pull out So we are hoping that Beacon will authorise it the same day, so that can happen. It's cutting it very fine though, and a miracle will have to happen I think. I am hoping the people who are threatening to pull out will give us another 48 hours if needed, but I just don't know. I guess we will find out on Tuesday!

Our contracts have not arrived in this morning's post either, and OH is at work all of Monday so he won't be able to sign... so we are now facing a 200-mile round trip on Tuesday to deliver them by hand, because we won't be able to post them in time to get there on Tuesday, argggghhhh! I just feel like everything has been left to the last minute, it's such a nightmare

Good luck everyone xxx

*Storm*

ES.......... Hi babe.......... did you hear anything on friday? No news regarding your exchange? I was praying you would have heard something by now. Fingers crossed for monday for you. Have you lost the house you wanted?
And yes....... I live in the scenic Ribble Valley. Not too far from Barnoldswick! If you ever get up this end, i'll meet you for a celebratory drink after all the stress and worry we've had over the last few months!

Cherryontop......... CONGRATULATIONS on your exchange!! :T How did you feel? I felt a bit deflated to be honest...... its just been so stressful all along, I still cant believe it'll finally happen! We're completing on the 3rd Nov.......... so might get a bit more positive in a couple of weeks.

Glitterjunkie............ Your story sounds very similar to my buyers. We also had to have second survey and solicitor nearly dropped them for using Beacon as well! (Apparently she's now put a ban on any more clients using Beacon!) Also, I must say, after the secnd survey on thursday - we were ready to exchange on friday - so there may be hope yet that everything will work out. Fingers crossed for you - I think everyone on this thread understands exactly how you are feeling. :mad: Good luck for tues - keep us updated.

Sweetpea....... How did the viewing go? I was crossing everything for you! Let us know where you're at. Have you lost the house you wanted or are they still waiting for you?

Carla.......... Have you exchanged?? Fingers crossed you have and all is on track for your completion.

To everyone else.......... I know it is stressful, frustratring, depressing..... (enter own word here!), but even though at times, you will feel like crying and just giving the whole thing up - it does happen............. eventually. I know it winds you up even more when people tell you to be patient and I know after 3/4 months it starts wearing thin - but just hang in there.

Good luck everyone. X

Carla0909

Hi

I am in Scotland, so we don't exchange as such we conclude missives which I think is the same, it ties you into the purchase. My date is 3rd of November too.....Still nervous that it all goes through, got to trust brokers, packagers and solicitors now....all down to them now.

Carla

expertseeker

Hi all, well chain will collapse tommorrow if we don't exchange,so we back on the market to cover all options, hope everyone is doing better than us!

I don't get why beacon think you own other property sillysue, perhaps you have someone that lives in same area with same name that does own lots of properties or its just a delaying tatic to keep you on board without lending you money yet!