Questions from a FTB

boonerz

Me and my girlfriend are FTBs, and very excited about our first home!:beer: Being new to this, I've got a couple of questions:

1) Do we need to go to our solicitors to sign something in person, and do we both need to go? Reason I ask is that she currently lives and works away so getting to the sols might be a problem!
2) I had a phone call from the bank today to say valuation was fine and they're sending out the mortgage offer (application was only made on 22nd!). I've not heard anything out of the solicitor yet though, do I need to be chasing them to do anything?
3) How long do you think it will be until we're in a position to exchange (piece of string I know!) given that mortgage is sorted now, vendor is going into rented and HIP is with sols?

Thanks for you help!

TEDDYRUKSPIN

(1) Yes and no. They can send it to you but will need ID & VA verification too. If she works away, she can sign a pre-signed agreement to speed things along. Contact the solicitor / conveyancer.
(2) You need to sign the mortgage offer and then the solicitor / conveyancer will be contacted.
(3) Average 6 weeks. Worse case 3 months - 6 months.

opinions4u

boonerz wrote: »

1) Do we need to go to our solicitors to sign something in person, and do we both need to go? Reason I ask is that she currently lives and works away so getting to the sols might be a problem!

While a personal visit isn't essential the solicitor will need to comply with money laundering regulations.

Personally I think she should find the time. A good solicitor will spend 30 minutes to an hour going through all the ins and outs of the purchase, services to the property etc. Despite considering myself fairly clued up on the house buying process each meeting I have had with a solicitor when buying a property has been enlightening.

2) I had a phone call from the bank today to say valuation was fine and they're sending out the mortgage offer (application was only made on 22nd!). I've not heard anything out of the solicitor yet though, do I need to be chasing them to do anything?

They've done their bit. You are now relying on your solicitor to get on with their job and to agree a completion date through the chain.

3) How long do you think it will be until we're in a position to exchange (piece of string I know!) given that mortgage is sorted now, vendor is going into rented and HIP is with sols?

Average is usually 8-12 weeks, but this sounds like it could all be done and dusted within a fortnight if that's what you want. Talk to the solicitor for clarity!