Pulling our hair out

lindsaygalaxy

Are you buying on the racecourse?

Tjrw1985

No, not buying on the racecourse, The lender is Newbury, the house isn't in Newbury.

amnblog

Communication - can you not just discuss timescales and expectations with your broker?

Tjrw1985

Thank all for your help. Spoke to the broker and app was put in with Leeds, not Newbury.

Just hoping the offer comes through before exchange on the 21st.

kingstreet

Tjrw1985 wrote: »

Thank all for your help. Spoke to the broker and app was put in with Leeds, not Newbury.

Just hoping the offer comes through before exchange on the 21st.

Where is the property?

Newbury only lends in the following postcodes;-

AL,BA,BH,BN,BS,DT,GL,GU,HA,HP,KT,MK,OX,PO,RG, RH, SL,SN,SP,SO,TW,UB,WD.

That's the main reason we never use them. We are too far out of area.

Make sure your broker uploads a certified copy of the sales memorandum which must show the shared ownership rent, service charges etc. If there's any gifted deposit, the Leeds special form has to be used, not a general letter.

My last two Leeds cases were submission to offer in 18 days.

BMW_Mike

Hi,

From reading this email chain I am guessing you are in the same boat as myself. - Firstly don't worry too much or try not to.

We are in the process of buying a Share to Buy. We put in our bid in late March.

Our situation is that the Housing Association is putting as much pressure as they can bring to bear on possible purchasers, I have actually lodged a complaint about it, almost harassment - it's been a nightmare, but my understanding is that the property we wish to buy hasn't been handed to the Association from the Builders yet. In our case they are not fully finished yet. - Hence the earlier comments by Kingstreet and others here - they are correct.

I understand that we are the first purchasers on the Development and the pressure is well and truly on us as precedents get set at this point.

For us to be where we are I believe that all parties must be confident that the mortgage will come through - I think (and hopefully) it's more when than an if, We applied to the Leeds, although we did look at the Newbury (we fall within their area as well) - We have got to the Valuation stage which hasn't thrown up a problem - so am guessing that bar final checks eveything is OK (Being aware that until the keys are in my hand anything and everything may probably go wrong).

We are in a situation where we have Exchanged - However as I sit here we do not have a mortgage offer yet, - The Association have indemnified us (to the satisfaction of our lawyer) that if our offer isn't forthcoming all fees and the deposit will be returned. I have never heard of this situation before whereby one can exchange without everything in place. I am not 100% comfortable with this (Yes I know the sages will say "if you are not comfortable don't do it") however it seems to be OK.

We have a long stop completion date of 31st July which all being well we shall comfortably meet, our problem is that we are living in rented accommodation and our landlord wants us out ideally by the end of June although he's being flexible, we may need to stay a week or so longer - We are feeling the pressure though.

As to timings, I think our full application went in about a fortnight ago - We are using an IFA, we went through AIP and then we got a DIP maybe 10 days ago, - Valuation was done late last week, so probably another 5 days (ish), seems to be running pretty smoothly, had a few minor queries for extra documentation but nothing serious.