Well, Here goes - a stress and hassle free purchase.......

klolav

Mummytobe wrote: »

Im in a similar situation. Had offer accepted on fri 16th sept, and the decision in principle was done on the same day. Full application was completed on the monday, and got result of valuation today. I was advised not to cash the cheque with the solicitors (even though they have been appointed) until i had the full mortgage offer - which i 'should' get by friday (according to my broker). How long realistically do people think it would be till we get a date for moving? We have to give one months notice to our landlord, and the rent comes out on the 9th of each month, so i dont know what to do with regards to that and when to let them know?! We are first time buyers if you didnt already guess!

Firstly good luck with it all! It is a mindfield and things can change daily when buying or selling. This is not a negative at all, just a friendly warning.
It sounds like your purchase is going great guns at the moment and at a guess, you will obviously be paying this months rent, and i'd like to think you would be pretty close by this time next month due to the valuation being done already and mortgage offer due shortly!
But...it is so hard to predict. My initial aim for date was this fri, 7th Oct, now we are here, we are not even close to exchange!!
Sorry i'm not much help, better to overlap (finances allowing) than to be forced to move out of rented before the house has completed!!:)

Mummytobe

Thanks for your advice. Yeah i expect also ill be paying on the 9th of this month (which takes me to the 9th of november - is that right) and also i kind of think ill be paying on the 9th november also which takes me to the 9th december as i need to give a months notice and thats not gonna happen on the 9th of this month. If the above does happen then when do you think my first mortgage payment will be?

klolav

If I remember rightly, first mortgage payment is taken a month from the date of completion, then you can change it to a date during the month to suit you. I think your right with your estimated dates all going well.
Hopefully you will be well settled by xmas

Mummytobe

So if the first payment is made a month from completition then if we complete on the 25th november would the first payment be on the 25th december? And i really hope we are settled by christmas as well....there is work needed to be done on the house as well :-(

davilown

klolav wrote: »

If I remember rightly, first mortgage payment is taken a month from the date of completion, then you can change it to a date during the month to suit you. I think your right with your estimated dates all going well.
Hopefully you will be well settled by xmas

Mines going out on the following 4th of the month, provided the completion is before the 15th. If its after that, then it goes out on the 4th of the following month. so a minimum of 22 days, max of 57 days if my maths is correct. This is what Satandar told me anyway:eek:

I hope you all keep posting to let us all now how you are getting on, my purchase will have taken 11 weeks from offer to completion - stress free (VIRTUALLY)!

Mummytobe

Thats interesting. Thank you. I hope mine would be something similiar. My mortgage is with Northern rock.

Jaymzrsa

Great thread, I am a FTB and going through this now. I have given my notice for the flat I am in and need to be out on the 25th October and I have no idea when we are going to complete. We have the mortgage offer, have completed surveys and they have started searches. I have environmental done and have recieved the chancel searches and every time I ask how everything is going they say they have to wait for the water searches to come back. Is the process really so linear that they have to wait for something to be completed before they begin something else?

Another thing which I worry about is my solicitor has recieved the draft contract but we have not seen it at all. Is this normal? So I am kind of in the dark, need to preferably complete mid October but really don't know what to expect from here

davilown

Jaymzrsa wrote: »

Great thread, I am a FTB and going through this now. I have given my notice for the flat I am in and need to be out on the 25th October and I have no idea when we are going to complete. We have the mortgage offer, have completed surveys and they have started searches. I have environmental done and have recieved the chancel searches and every time I ask how everything is going they say they have to wait for the water searches to come back. Is the process really so linear that they have to wait for something to be completed before they begin something else?

Another thing which I worry about is my solicitor has recieved the draft contract but we have not seen it at all. Is this normal? So I am kind of in the dark, need to preferably complete mid October but really don't know what to expect from here

Well done and good luck. We never saw the contract until all the searches were completed and the solicitors report was ready.

klolav

davilown wrote: »

Well done and good luck. We never saw the contract until all the searches were completed and the solicitors report was ready.

I think thats normal too!
We ideally could do with completing mid-late October, so everything is crossed! I'm hoping everything will go crazy and all come in together!!

tristinh

Does anyone have a definitive (or generic) list of what is needed prior to exchange, then completion? We keeping being told 'it is moving along nicely' but I am impatient!

Our Sol has:

1. Draft contract
2. Copy of vendors title & deeds
3. Property Info Form
4. Fixture & Fittings Form
5. Environmental Searches
6. Water searches
7. Mortgage offer
8. Copy of buildings insurance
9. Mortgage information from (i.e. where is your deposit coming from, proof of deposit, has your situation changed etc)
10. She is expecting Land Registry searches any day.

Apart from us transferring the deposit, what else does she need to enable us to sign and exchange contracts?

VERY excited now! We have been looking for 14 months and our offer was accepted in April on this one! Legal stuff only kicked off 2 weeks ago though following the vendors messy divorce settlement.:T