Who gets the final say in the chain?

Doozergirl

Oh No. I'm really sorry

Can't say much else.

helping_hubby

Doozergirl wrote: »

Oh No. I'm really sorry

Can't say much else.

Does that mean you'd have little belief that we could exchange by the 8th? I feel like pulling out tomorrow and start looking elsewhere. Was there something about interest rates going up again? If we could find somewhere and get a mortgage before they rise again (might be possible with Woolwich/barclays) then we could still buy somewhere. Its just if we had to pay an extra £50 a month mortgage - we could afford it, but it's just getting too close for comfort.

Doozergirl

You have to find out if there is a chain above them. Again.

If there's no chain, you might be lucky.

Inflation is reported as being up again which could mean more interest rate rises. It won't hurt you to have a little scout around. If you did by magic find somewhere yourself with no chain then you'd be laughing compared to the situation now.

helping_hubby

It seems we were misinformed slightly. All isn't as bad as it seems (we hope). Can anyone tell me if this could be true or if we're being lied to drag things out...

The house the person at the top is now buying is a repossession. We've been told by solicitor that they HAVE to complete by end of May and there will not be much room for negotiation because it's a repo. She said at most they might get a weeks leighway. Is thi possibly true? Just don't want to get my hopes up for nothing.

helping_hubby

Tomorrow is the supposed deadline for exchange by the repossession people.

Can an exchange happen in a day? We're yet to get our house buildings insurance.

Anybody know how strict repos are with deadlines?

I will phone up estate agent this afternoon to see if our top of chain people got an extension.

Doozergirl

they're pretty strict but not that strict. If they can see that exchange is imminent, they won't pull the rug from the buyers

Maybe not tommorow but I'm sure it will be very soon

olive84

I have crossed fingers for you. I think exchange can happen in a day if evryone is ready and the solicitors have the money. We just heard from our sol that we might exchange tomorrow so that's quite short notice.

helping_hubby

Spoken to EA and Sol. We wont be exchanging tomorrow and apparently the people at the top have proved enough that they are serious so the deadline is removed.

So now they just have our deadline to aim for. So they've got 3 weeks tomorrow to exchange.

Sydney_2910

Sorry to hear about your chain - I can completely sympathise with you the same happened to us. We are in a chain that started in December, we were due to complete on 14 March and like you there was some part of the chain that had been overlooked!

It has been a stressful 5 months but we exchanged today - hurrah! I have learnt so much from this, and can't agree more with other comments written here about standing by your decisions. We threatened to pull out so many times but because it is our dream house we stood by it.

Looking back, I wish we had pulled out earlier because it has been so stressful and i have never been so depressed. It is definately the most stressful thing ever.

All I can say to you is stick by your guns, keep to your deadline - what will be will be. Try not to phone your EA anymore and just let it happen.

Fingers crossed for you...

helping_hubby

Thanks Sydney, not sure if it's a good thing, but I am very stubborn and I will be sticking to the 8th. I just wish I could tell the people at the top to their face as I would love to see their reaction after all the hell we've been through.