Getting really cross now

alfiedog_2

Keeping my fingers crossed for you, such a stressful business.

Woody69_2

We exchanged with no deposit because the bottom of the chain had a 100% mortgage, everyone was fine about it. We have over 2 weeks between exchange and completion, completing this Friday(fingers crossed) . It really shouldn't be a problem.

Donnaalana

Sorry i'm new to this house buying malarky (into week six of first purchase). Why does it affect the top of the chain how much deposit the bottom of the chain has?

olive84

Because the deposit gets passed up the chain. If we've only got £3000 then unless our vendor has got a load of money saved up to add to it then that's all they've got to offer as well, if that makes sense. That's pretty much how I understand it. Basically it is possible to do it with no deposit, which is what we could have as we have a 100% mortgage, but we have managed to get this amount, and they should just get on with it IMHO.

Hope that explanation made sense.

Donnaalana

Yes thanks Olive. We've got a little bit of a deposit to put down. So far hasn't been an issue. Any news?

olive84

yeah. our vendor has had to transfer an extra £19k to her solicitor's a/c for the deposit, that was on wednesday. As soon as that has cleared we are going to exchange, my solicitor said 'any minute now'. So it might be today, but it'll probably be Tuesday. So fed up of waiting now, but at least it looks like its going to happen soon.

olive84

Well, my house buying process is nearly over. We exchanged today! :j :beer: Thanks for everyone's help. We move on the 25th June and I can't wait. It was all a bit mad today. Our solicitor didn't call us to let us know, we had to call him. Then the EA called at 4.30 and started making excuses for why we hadn't exchanged. I had to tell her we had! She actually went woohoo on the phone. So 7th Feb offer accepted, 30th May exchange. There is hope for us all!!! :T

Mrs_Optimist

Congratulations!

And what a C##p EA you have there! No doubt they will be quick to put their bill in for payment though! Still on the plus side you won't have to deal with them for much longer!

Good Luck

Donnaalana

Yay less than a week til you move now. We've just returned our draft contract with the deposit cheque on Monday so hopefully she will be putting the pressure on to exchange. I don't particularly like her anyways so am concerned so won't keep us in the loop.

olive84

I know, it has gone so quickly, compared to when we were waiting to exchange! Really pleased all yours is moving along nicely. We waited a long time though from the stage you're at till we actually exchanged. Hopefully this won't be the case for you. As for me, I have not packed a single item into a box yet. You'd think that after all this time I'd be all ready to go, but no, still as lazy as ever! This weekend is going to be mad...

Keep me updated Donnaalana!