Mortgage offer to completion timescale

Jess716

We recieved our mortgage offer Friday and help to buy confirmed our equity loan also.

We've instructed solicitors and their letter says anything from 4-8 weeks to complete, what are other people's timescales like?

We would like to be in there by Christmas, as it's a new build there's no chain but we would need to allow a week for getting carpets and tiling done before we would actually be in.. Is there realistically any chance of us being in for Christmas?

libf

Depends on how long searches take in your area and how quickly the solicitors work.

I reserved my new build in May, got my mortgage offer in August and only just exchanged last week, although my house won't be finished until January. The builders solicitors sent the wrong transfer document and were generally rubbish about responding to enquires, despite the builders themselves repeatedly setting exchange deadlines which couldn't happen because of the missing information...

marksoton

Jess716 wrote: »

We would like to be in there by Christmas, as it's a new build there's no chain but we would need to allow a week for getting carpets and tiling done before we would actually be in.. Is there realistically any chance of us being in for Christmas?

Is the new build ready to move into? If not you also need to factor in any builders dates being missed.

fairyloveheart

How far is the build along Jess - what was their expected completion. Ours builders are still saying mid Nov for completion and we haven't got our offer yet and they've got a lot of work still to do on the garden and I'm not sure about inside. I think we will get pressure this week to exchange but we need our offer and our buyer needs theirs too!
Has your solicitor already applied for searches? My mum works in conveyancing. They can take up to two weeks to come back if they haven't been applied for yet so allow two weeks for them. Has your solicitor already got the draft contract of sale and the TP1?
The developer will issue a long stop date and give the solicitor 10 days notice to complete so they can draw down funds.
Help to Buy send a huge pack to the solicitor and they have additional work to do on this on your behalf.

I think you'll be in by Christmas as it should be straightforward if there's no chain!

Jess716

Sorry I forgot that bit, our house is ready to move into, it's been ready for.a few months