FTB in really simple terms please!!! Im confused!

Yorkie1

AFK_Matrix wrote: »

I too am buying my first property and I feel for you as it is one daunting prospect!!! I also have had an offer accepted so I am going to be doing the solicitor hunt this week and I will be getting an independent surveyor to do my property as the EA surveyor will only be interested I believe in if the property is of a decent level to cover the mortgage you are taking out not the whole price of the property. But I am no expert so might be wrong there.

Also as for when you give notice on your flat I would give notice on the actual day you step foot in your new house. I say this as things can go tits up as it were right up until the last moment and if you have given notice then you have no where to fall back on if the worst happens. That's what I am doing and I know its an extra months rent but I think its worth it for the peace of mind.

Entirely your choice to do this, but unless exchange and completion are on the same day, there is no need for this extra layer of caution. Most conveyancers will go through their entire professional lives without having the sort troubles arise which you envisage preventing you from moving on completion.

Notice after exchange is the standard advice.

Jeffrey_Shaw

WillF wrote: »

Maybe OP was frustrated by his persistent and incorrect use of semi-colons.

And the point of this post (esp. its advice-value to OP) was?

cankle

Apologies to Jeffrey, after re-reading my post I agree I did come across as a little harsh! I am just really nervous/worried sick/sleep deprived at the moment and I guess Im just looking for a little reassurance, I suppose I just wanted someone to come along and say 'dont worry I was using my authorised overdraft for a year and got approval so it will be fine!!' but obviously I know everyones circumstances are different, I also suppose that I was getting stressed out as it was the weekend and I couldnt speak to my broker/solicitor as was suggested.

The situation now is I spoke to vendors EA today and they said they are still waiting for my lender to arrange to do the survey so I am ringing my broker in the morning to ask her to hurry them up a bit as I cant pay the solicitor until the survey has come back and I get the mortgage app approved (hope thats how it works!)

I dont know how these people that buy and sell loads of properties cope! Its doing my head in now and Ive only just started the process!!!

Richard_Webster

I think Jeffrey's point was that you really should rely more on your solicitor and ask his advice.

We can help you on this forum, but there is always a danger that people can make assumptions about what is happening and do things (e.g. give notice on rented) without specifically checking the position with their solicitor.

As a solicitor, please believe me that I find it quite frustrating when a client has talked to the estate agents and maybe others in a conveyancing chain about dates etc and hasn't bothered to consult us at all! So please keep us in the loop and we can keep you in the loop.