Once mortgage offer granted how long now to complete?

sterl1ng

Trying to get an idea how long it would take now once I instruct solicitor once my vendors have found something. I know usually 8-12wks but I'm guessing that's factoring in applying for mortgage too but now that I have that piece sorted how long do you think I should anticipate from moment In instruct solicitor to moving in? I'm trying to figure out finances so that I can start saving it aside for any repairwork or buy secondhand bits n pieces for new place.

hop3y

sterl1ng wrote: »

Trying to get an idea how long it would take now once I instruct solicitor once my vendors have found something. I know usually 8-12wks but I'm guessing that's factoring in applying for mortgage too but now that I have that piece sorted how long do you think I should anticipate from moment In instruct solicitor to moving in? I'm trying to figure out finances so that I can start saving it aside for any repairwork or buy secondhand bits n pieces for new place.

Do you have the Mortgage in Principle or the Mortgage Offer?

Dan-Dan

depends a lot on what your vendors find....you could end up in a very long chain

sterl1ng

I have the mortgage offer from bank so all good there. I didn't realise as to chain. So I guess watch this space. If however they have chainfree property they are buying how long roughly you think I could complete

LEJC

I offered on a property at the beginning of march and had mortgage offer granted within a week.....the property has vacant posession and all searches were completed quickly....and it was chain free....good position to be in or so I thought....still waiting because the solicitor for the vendor is very slow!


What looks like it could have been a 4-6 week turnaround is still dragging on to the point of flustration....the one thing I have taken from this whole house buying thing is there is no set timetable!!!


I hope your purchase is pretty standard and moves swiftly but there are so many factors that can delay.

Lychee

My situation is similar to LEJC, it seemed straightforward until we got to know the vendor's solicitor who are not the quickest to respond to queries and requests. I was expecting 4-6 weeks but there's just no guarantee. Someone could decide to go off on their summer hols and paperwork sits on their desk til they return :undecided

Unitoons

My house is sold and I have moved in with my parents short term so everything from my perspective is done however, everything hinges on your vendors!

My offer was accepted on 7th March and I am still nowhere near an exchange date. It took my vendors 3 weeks to find a property which fell through after 4 weeks. They have since offered on another but when I called for an update last week, their solicitors were waiting on paperwork before searches could commence.

I am now 12 weeks into my purchase with no end in sight - I hope yours is a bit more straightforward.

m_13

Our vendor's Solicitors are hopeless too. Took them two weeks to send out the contract bundle despite there being a failed sale before us so surely they had done it all once. The Solicitor works 2.5 days a week on a job share but they don't actually share the work so on the other 2.5 days nothing happens. Now our Solicitor is on holiday for a week but his assistant has set off the searches today and we have a day to sign the contract when we come back from holiday. Knowing it isn't ours until exchange is tricky; it's hard not to dream although the structural engineer report due tomorrow might help. The structural survey basically said not to use anything powered by electricity!

sterl1ng

OMG what a nightmare! I haven't gotten to that stage yet as my vendors are still looking, though last time I checked on Friday apparently they had put in offer on a place and were awaiting to hear back, no calls from their EA just yet so guessing probably got outbid again or still awaiting to hear.

In meantime I've emailed EA questions on the lease and other bits.In the last week their communication has improved massively where as 12wks prior to that they've been rather rubbish! Not sure if my physically having gone to the EA to speak with them Saturday before last had something to do with it.

Dan-Dan

Don't ask the estate agent vital questions like lease queries , you need factual answers that's why you employ a conveyancer