FTB- how often should I be in touch with EA?

AWeeCuppaTea

Hi all

I'm a FTB buying through a co-ownership (shared ownership) scheme in NI. I had an offer accepted on a property on 7th Jan, and had my application into the Co-Ownership office in person on the 9th (had all bank statements, payslips etc ready to go)

I have to wait until I get the offer from them for their 50%, before I can do the full application for the mortgage for my 50% (I only have an AIP at this stage). The estate agents & vendors were aware of this when I put in the offer.

I paid the fee for the co ownership valuation etc on the 14th and have my appointment with them on Friday this week to go through the details of my application (they haven't asked me to bring any more information to this appointment which I hope is a good sign). If all goes well then, I'm hoping to go in and apply for the mortgage week starting 26th Jan.

The last I spoke to the vendors estate agents was 8th Jan when I was getting some more property information from them for my co-ownership application. The vendors hadn't yet found another property.

How often should I be in touch with them so the vendors don't get cold feet about me? The co-ownership folks should be in touch with the EA this week, if they haven't already, about arranging their valuation, but I just worry that the vendors will feel it's all taking too long. Am I silly for worrying? Especially as they haven't got their own property yet...though they said they do have somewhere to stay if I'm ready to complete before them. I'm still hoping to complete in Feb some time.

Any thoughts would be great to stop my panicking! Thanks

Old_Git

you should have your survey done this week ,then the agent will know you are serious about buying .Expect the process to take 6 -10 weeks from you get the survey .once the survey is done you can give the agent a call to say all went well or whatever the survey says ,after that leave it the the solicitor to sort it out .

Loopy28

The owners will be aware of the timescales for co-ownership applications so I wouldn't worry. The EA will also know things are moving and will be aware of the timescales. Even if someone else came along and wanted the property, they would be behind you and have to go through the same process.

I sold a shared ownership house in England a couple of years back and it took 2-3 weeks for everything to be approved with my buyers. The Housing Association kept me updated on progress so I knew things were moving and had to be patient.

rosie383

If your vendor hasn't found a property yet then they won't be pushing things, believe me. And if they have said they will rent if they haven't found a house so that you can move into theirs, take that with a huge pinch of salt.
If the EA can tell them that you have appointments set up etc, then that is all you really need to do for now.