How can I get things moving?

brock-cruse

Well been trying to exchange contracts for a few weeks now...only 3 in the chain, my buyer, us and bank for repo house. We are all ready apart from my buyers sol is waiting for remortgage funds from buyers current house (she is going to rent out) to pay for our house. The remortgage company ( i think it is future mortgages) are taking forever to get the remortgage sorted. The broker dealing with this is in-house of my estate agent hence i know a fair bit and they know how urgent this is now. The broker has apparently written a complaint letter and is chasing everyday. Future mortgages apparently only check their mail in the afternoon and they are saying that they still have not received the paperwork my buyer sent back on Thursday! Now doing a bit of research on this company has shown they are not good. ie delays, losing stuff. All the solicitors are just waiting (although dont think the bank is too chuffed) and the agent just keeps chasing the broker. Is there anything more anybody can do? Im at my wits end now as my buyer and i had said we wanted completion for 19 July. Things are going to get very difficult for moving once we hit school holidays especially as we are going away for 2 and half weeks middle of Aug. Needed to be in ASAP to sort out new schools etc etc...
Any advice??

phlash

Candles, soft music, and a bottle of her favourite slurp!

bitza81

I hate to tell you this... our first mortgage was through future mortgages and it took us 3.5 months to actually get it.

They were useless, unfortunately we had little choice... these specialise in poor credit, self employed etc etc - not run of the mill stuff.

Obviously everybody likes time between exchange and completion to sort and organise, but at worst case scenario you can exchange and complete on the same day, especially if theres only three in the chain. Completion doesn't necessarily have to be a friday either, solicitors just prefer it!

Keep doing what you're doing by chasing every day.. keep on top of it that way... Make sure the buyer is chasing the mortgage company too!

Apart from that, not much else you can do but wait!

Good luck with everything

Helen

brock-cruse

Thanks Helen...better not take 3.5 months! It does seem as if it is me doing all the chasing and my buyer nothing at all.....i had heard horror stories about this company. Dont think that threatening to put house back on the market will do any good either...thats what the bank may choose to do though soon. My sol is getting a bit hardline by saying she should get a bridging loan as its not our fault and that this could lose us our house but i would hate to think of someone having to get one of those...
We deliberately chose Thurs as completion day as I know fri are a nightmare! I just hate the waiting around...