HELP! FTB -Purchase going at lightening speed - am I being

goldbyron

Oh and I wouldn't make anything up such as having a financial commitment to clear as this will cause unnecessary anxiety for the vendor and would also not bode well if they found out you have been untruthful. Just be honest and say why you want to move when you do.

morningcharlie

Crikey! Thanks all, you've been busy!

To answer as many as I can remember, yes mortgage has just been formally approved and the paper work is in the post.

It was the mortgage broker who basically said 'my work is done, go and move into your house'. But then I checked with my solicitor and filled her in on all of this, and she said that they'd push for sooner than my ideal.

"What you really want is a long gap between exchange and completion, then you know that (almost!) nothing can go wrong. If you just stall on the purchase you risk someone else coming along and you being gazumped.

In your position I'd want to exchange asap and delay completion, but you'll have to negotiate this with the vendors"

This would be my ideal, as I'm conscious it could get pinched away from me. Can I do this and be upfront about it? As solicitor thinks that once we have exchanged they will push for completion within a few weeks. Can we just be honest about it? That would be my preference!

Obviously with this being my first purchase, I still don't know, what I still don't know, so not sure what is reasonable/expected/ and what demands the vendor can make on me.

PS. Thanks very much for the tips on delaying! I shall forget to sign everything after exchange :T

PPS. Has just occured to me that I wonder if the mortgage part is moving so quickly beacuse the Abbey can't wait to get their hands on my big deposit...Hmmmmm....

zzzLazyDaisy

morningcharlie wrote: »

PS. Thanks very much for the tips on delaying! I shall forget to sign everything after exchange :T

It will be too late by then - the completion date is part of the contract, so will be agreed at exchange of contracts. When it comes to agreeing a date for exchange, you really need to be up-front and explain that you will be away until [date] and so you are looking for a completion date after this.

morningcharlie

OK great. I shall try and appeal to my solicitor that honesty is the best policy!!
Thanks!

lfc321

morningcharlie wrote: »

This would be my ideal, as I'm conscious it could get pinched away from me. Can I do this and be upfront about it?

Yes you can do this - you can have any length of gap between exchange and completion as long as both parties agree. I would be upfront - say you will exchange as quick as humanly possible but you want to delay completion. You never know, the vendors might not mind (especially since it's presumably empty and the executors who are selling it - a few weeks might not matter to them).