How quickly can it happen?

GhostDog_2

Expecting the formal offer of shared ownership home on the doormat imminently :j

Have made online enquiry to mortgage broker re 100% mortgage for our 50% share :rolleyes: £70k mortgage & £175 rent pcm.

No idea who/how/where to go for a Solicitor yet but presumably will need to find out fast!

House is empty - a beautifully completed conversion and feels/looks just like a new build :T

Have read current tenancy agreement and need to give 4 weeks notice :cool:

Is it realistic to expect the survey to be straightforward, the mortgage offer to arrive within a couple of weeks and for us to move before Christmas? (this year! )

I'm soooooooooooo impatient! :j :j :j

Shaba_2

hi, on average from what i have read on this forum it takes upto 3 months.
If housing association is involved then it will probably take longer. They seem to slow everything down and thats not just my personal opinion.

I would not hold my breath to get completion before xmas. especially witht he the holidays etc in december. yor probably looking at around jan.

but you never know you might be lucky and people might work extra hard to get backlog over for the new year good luck anyways.

izoomzoom

Hiya

Welcome to SO purchasing.

As you can see from our sig, we have been 'purchasing' our place for nearly 11 weeks. We have had our MO for a month (ie we have been ready) and between our vendor's solicitor, the HA and HA's solicitor well .... we are still waiting.

At this point we are still waiting for our lease management pack and anyone's guess is when we will receive that.

We can only give notice on our AST on the 3rd which is 10 workings day from now so the noose seems pretty tight at the mo (if we are to move before Xmas.

Regarding your purchasing, unless everyone in your purchase (inlcuding HA and vendor's side) is brilliant, forget about being in this year. Sorry mate but we were very hopeful in the beginning, now we know better.

Keep posting, I'f love to hear if you can prove me different !

movingforward2010

its taken us 5months:mad:

GhostDog_2

Noooooooooooooooo you're not telling us what we want to hear guys!!!!! :rotfl:

cattie

Even on a normal purchase it averages 12-14 weeks in my experience. Best not to even torture yourself with dreams of being in sometime this year. If some fabulous miracle happens & it all goes mega fast then brilliant. But a lot less stressful to tell yourself it just aint gonna happen this year.

Don't forget also that the Christmas & New year break has a big knock on effect, which slows things down somewhat.

dmg24

Whilst the other posters are very realistic, it is not impossible to move more quickly. If all parties are very efficient (and that is a big if!), then it can be done in as little as four weeks. But that does mean you chasing all parties at every step of the way.

lynzpower

Housing associations are certainly not the quickest. I think my purchase took from putting the initial 500 holding deposit down in march to end of october was 7 months. It was arduous too.

I certainly wouldnt hand my notice in just yet. Good luck though

lynzpower

ghost dog. Am I right in thinking you are currently renting from a local authority? If you are do check with your housing dept, as many LAs give cash incentives/ bonuses for tenants to vacate thier properties and in london can run to a few grand. So do ask

GhostDog_2

Yes Lynzpower - we do currently rent from local HA but checking their website I've never found any evidence that they have offered this cash incentive/bonus. I know another nearby LA does - but this too is "on hold" until the next financial year. Seems all good things come to an end too fast!

lynzpower

no phone them GD

And discuss with them how they can talk about equality of providsion blah blah.

Some dont advertise it blatantly.

Are you in a LONdon LA?