Mortgage offer

12spider21

Hi all
Firstly sorry if I sound silly with these questions i am all new to this but wondering what happens next, we have finally
Received out mortgage offer over the weekend and am wondering how close we are to contracts and things? Am hoping to hear from the solicitor this week but the constant thinking about it and how long it could take is worrying me as I need to give notice on my rented property of a month, We have had all searches, drainage reports, valuation and survey done and am unsure what else might need to be completed? Also the property we are planning on moving to is vacant so there should be no hold ups there

Thanks in advance

Let_Us_See

No point in further conjecture. Contact your solicitor and explain your time frame and ask if there is any reason why it could not be met - if not, why not. Remember, at the end of the day you are paying his fee and he is working for YOU. Phone now!

mossy

When you found the property did you mention to your solicitor the time period you required between exchange and completion (so you could serve notice on your rented property)?

I only ask because we are in the process of buying a house and we live in rented so we specifically requested three weeks between exchange and completion (we have one week left in rented after buying so that we can decorate the new house and gradually move stuff over and then clean the rented house etc).

It used to be 28 days between exchange and completion but now it is often more like two weeks. Like 'Let Us See' said, give your solicitor a call. It sounds like you are almost ready to exchange so it's not to late to try and get the four weeks you require between exchange and completion. Especially if the property you are buying is empty, unless they are mega desperate for the money and don't want to wait an extra week or so.

Good luck.

12spider21

No we didn't however the vendors wanted completion by the 28th of April but as we hadn't received our mortgage offer at this time we went past this date. So I can only assume it will be quite quick from now. I tried to phone the solicitors yesterday but there was no answer so I left a voicemail to get back to me. As soon as they give me a time frame i will hand my notice in, as wanted to do as you have done and decorate etc.Thanks for your replies

Yorkie1

Assuming you're on a rolling monthly contract in England/Wales, your notice period will need to expire at the end of a tenancy period - it's not just a straight 4 weeks (unless your LL agrees otherwise).

Your tenancy period started the day after the expiry of your fixed term contract and runs monthly.

Make sure you factor this into your exchange / completion dates.

12spider21

My landlord has agreed that as soon as I know when the exchange date is I can give 4 weeks notice from this date so no problems there, I just didn't want to pay an extra month more if I didn't need to, so wanted to get my notice in by the 1st. But at the moment I'm still waiting to here what is happening as spoke to the solicitors today and they haven't received the morgage offer and that's what they are waiting on before they can do anything else. Seems strange as both me and my other half(who still lives at home) and my broker have recieved a copy. So just another waiting game over another bank holiday

12spider21

Still waiting but Can anybody tell me what an nhbc guarantee is and will it affect our mortgage offer?the house was built in 2002/2003 so wasnt sure what it really ment to a house just o the edge of the 10yr.And would it be a problem if they can't get hold of it? As my solicitor has sent is a letter today saying that they in the process of trying to get a copy of this from the sellers solicitors and that once they recieve this they will report to us next week to arrange our signatures on the documentation in readiness? Would this be the exchange bit? Thanks in advance and so far

12spider21

Just wondering can anybody help with the above post. Sorry if I'm impatient or asking stupid questions just been waiting since 17th may and would have thought we would have got somewhere by now.
Thanks

amnblog

You need to be very clear with your solicitor about what you expect from them on timescales and communication.

Do not be scared of him or her, your are their client and they won't want you complaining to the law society about them.

If the property is less than 10 yrs old it is still under guarantee and your solicitor is doing his job by requesting a copy.

12spider21

Thanks for that, yes I explained that I now have to be out of my rented property by the 1st July. And the said that they should be contacting me this week to arrange to sign the documentation in readiness, would this be the exchange? Im finding it very hard with the solicitors as they don't answer my calls and tend to not return my voicemail messages. So feel abit in the dark. But as we are so far through it now thought it would be silly to change them. They only sent the email back regarding the nhbc after a few days of emailing them.

amnblog

12spider21 wrote: »

Thanks for that, yes I explained that I now have to be out of my rented property by the 1st July. And the said that they should be contacting me this week to arrange to sign the documentation in readiness, would this be the exchange? Im finding it very hard with the solicitors as they don't answer my calls and tend to not return my voicemail messages. So feel abit in the dark. But as we are so far through it now thought it would be silly to change them. They only sent the email back regarding the nhbc after a few days of emailing them.

You need to confront them about your difficulty in contacting them.

How did you come to use them?