Platform Coop timescale question

Hello
Heard from the EA that the survey that was done a couple of weeks ago by our buyers was an independent homebuyers report and that their mortgage survey is booked for 10 days time.

I was under the impression our buyers had applied for their mortgage two weeks ago. It can't take that long surely?

My Halifax mortgage went for application to offer in 4 days.

Worried I'm being messed around!

Is it usual that the mortgage offer is the last thing to wait on before exchange?

Comments

  • ACG
    ACG Posts: 24,465 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • TBeckett100
    TBeckett100 Posts: 4,732 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Cashback Cashier
    Just what I thought. Sounds like our buyers are committing step by step. Worrying really.

    I have issued an ultimatum re timescales to the EA so hopefully this will get everyone clear,
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Good luck, hope your buyer is genuine
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • TBeckett100
    TBeckett100 Posts: 4,732 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Cashback Cashier
    We accepted the offer on 3rd June and consequently reserved a new build with 28 day exchange

    They didn't get on with the mortgage application for at least a week. the EA spoke to their MA who said the application was 'progressing'. I said to the EA to keep on top of that because 'progressing' isn't the same as applying

    They brought their parents round

    A week later a survey is carried out which we now understand was a building survey independent of the mortgage

    After that came through they then commenced the searches which should all be through next week

    I get news yesterday that the mortgage survey is being carried out on the 8th which is a month since the offer was accepted. Having looked at the SLA, their provider turns these things around in three days

    I can only hope for their sake that they are ready to exchange as soon as their offer comes in and that our new build seller will accommodate their speed

    The other issue is we are moving child to another school so we have to accept a place and give up the current one before school holidays

    Nightmare, even without a chain.
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