how fast have you completed/exchanged?

hamster2013

Hi

wondering how fast people have managed to complete or exchange at the least.

I am in process of buying, am at stage where offer is accepted, application is submitted (HSBC.... EEEKKKKKK!!!!!!) since this past monday (11th march 2013).
What is realistic date of completion?

my situation is:
FTB
property 300k
deposit 100k
borrowing 200k
LTV 66% (getting the LTV 70% mortgage - tracker 2.69%)


i have instructed solicitor to start the searches, so that i don't waste time in that part, and also reassure the seller a little bit, even though the survey will not happen until HSBC get back to me.

how did you optimize your time between offer and exchange and completion ?

shonzyd

check my signature which will show my timeline with nationwide

hamster2013

shonzyd wrote: »

DIP 12/02/13, Mortgage application 13/02/13, Valuation 14/02/13, Valuation OK 22/02/13, Offer issued 05/03/2013, offer received 13/03/2013, exchange & completion set for 22/03/2013 HAPPY DAYS!!

wow, 4 weeks to potentially exchange, not bad!
nationwide seem pretty good, i have only read negative about HSBC, but their rates are too good to ignore :beer:

lee111s

8 weeks for me but that was by choice. My solicitor said they could have had me in within 4 weeks if I wanted. I guess as there's not much house buying going on solicitors aren't super busy.

mrsmchapman

My first house I brought was exchange and complete in 6 weeks, no chain either end so made it very easy

shonzyd

Mine was no chain too so think that made it a lot quicker. OP i take it you are a first time buyer and are not selling?

MiniSis

Mine took 3 months (march to June 1st last year) hold up was Santander being a nightmare, changed lenders and took a week for mortgage offer(this was end if April) then 2 weeks between exchange/completion, my choice due to ending lease on flat.

addyboy1982

6.5 weeks, held up 1 week when Nationwide withdrew their mortgage offer and I had to change to Santander, held up a further week when vendors went on holiday and weren't contactable.

Still quick though!

[Deleted User]

My first flat was bought in 14 days, from viewing to completion.

The second property was a little slower, at 17 days.

hamster2013

ok, so update on the progress
Appliction submitted: 11th march 2013
Application approved: 19th March 2013
not the fasted, but its a step forward

i guess next is step is valuation, problem is I email the mortgage advisor and get a response in 2-3 days, and have to chase and chase and chase
i assume its not suppose to be like that, or have i just got a bad mortgage advisor ? Can I request to change or are they all the same?

shonzyd

hamster2013 wrote: »

ok, so update on the progress
Appliction submitted: 11th march 2013
Application approved: 19th March 2013
not the fasted, but its a step forward

i guess next is step is valuation, problem is I email the mortgage advisor and get a response in 2-3 days, and have to chase and chase and chase
i assume its not suppose to be like that, or have i just got a bad mortgage advisor ? Can I request to change or are they all the same?

is the adviser part of the bank?? 2-3 to respond is ridiculous!! my (independent) broker responded to any emails within minutes. Most smart phones these days have email facilities so even if they are not in the office emails can be picked up.