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Completing on old and buying new property on same day?
wafers
Posts: 92 Forumite
I have just sent off our solicitors forms and did not tick the box entitled 'Tick here if you wish to complete selling your old home and buy your new home on the same day'.
I was led to believe that it cost more to do this.
Now just read that it is foolish NOT to do this elsewhere on tinternet.
Advice?
Thanks!
I was led to believe that it cost more to do this.
Now just read that it is foolish NOT to do this elsewhere on tinternet.
Advice?
Thanks!
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Comments
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well if you complete on one and not the other you will either be homeless, or have two mortgages
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probably because some people are moving area & don't need to do both on the same day or others who do not need a mortgage can have both at the same time, a single form for all where you select what fits you.
Just give them a call & let them know you need it all to happen on the same day.0 -
Why on earth was there a choice on my mortgage forms then?! :undecided
we're staying in our current house for a couple of weeks while the renovation makes the new house habitable. so we ticked that box.Relax, Breathe, Love 2014 Challenges:Cross Stitch Cafe Challenger 23. Frugal Living Challenger. No buying cleaning products. I used MSE advice to reduce my car insurance from 550 to 325!! & paid it off in full!!!0 -
What you were led to believe is complete nonsense!I have just sent off our solicitors forms and did not tick the box entitled 'Tick here if you wish to complete selling your old home and buy your new home on the same day'.
I was led to believe that it cost more to do this.
Now just read that it is foolish NOT to do this elsewhere on tinternet.
Advice?
Thanks!
How on God's green earth are you going to sell, pay off your current mortgage, provide the deposit for your new purchase and complete your new purchase, if it isn't all on the same day?
Strewth! :eek:I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I've moved three times and always sold the old house and bought the new house on the same day - I don't see why it should cost more? Unless you have enough funds to buy the new house before selling the old, or somewhere to stay and somewhere to store your belongings in between moving out of the new house and moving into the new one, that's what you have to do. What are your plans?0
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Can't remember where I heard that incorrect fact from, but I did hear it from some misinformed party!
Aaanyway, have just sent an e mail to the solicitors to ask them to amend the forms. It's all new, so excuse my ignorance!0 -
You weren't ignorant. You were mis-advised by a muppet who actually knew nowt. These things happen.Can't remember where I heard that incorrect fact from, but I did hear it from some misinformed party!
Aaanyway, have just sent an e mail to the solicitors to ask them to amend the forms. It's all new, so excuse my ignorance!I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I would be worried by solicitors who make such decisions on a tick box basis.Been away for a while.0
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Just to let you know, all our local solicitors including mine charge £150 extra for an exchange and completion same day, apparently because it's a lot of work involved and pushes back other stuff, as things almost always go wrong so they need the time and devotion for it.
So yes, down my way it does cost more to exchange and complete on the same day.
Az0
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