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First Time Buyer - Am I being impatient?
Nicklt
Posts: 319 Forumite
Hi,
We are first time buyers buying on Shared Ownership.
We have a mortgage advisor that sorted out a deal for us with Nationwide. The valuation was last week and the MA said they had received the report back on Friday - I haven't heard anything since then.
The Housing Association were given the details of our solicitor on the 5th but have not made any contact with them.
Is there any average turn around between valuation and offer?
Also should I be chasing the Housing Association to make contact with our solicitors or is that the Solicitors job? I did email our solicitor to ask if they had received anything from the Housing Association and I just recieved and email back saying 'No, nothing'.
Maybe I'm being impatient, I just hate not knowing what is going on.
Thanks.
We are first time buyers buying on Shared Ownership.
We have a mortgage advisor that sorted out a deal for us with Nationwide. The valuation was last week and the MA said they had received the report back on Friday - I haven't heard anything since then.
The Housing Association were given the details of our solicitor on the 5th but have not made any contact with them.
Is there any average turn around between valuation and offer?
Also should I be chasing the Housing Association to make contact with our solicitors or is that the Solicitors job? I did email our solicitor to ask if they had received anything from the Housing Association and I just recieved and email back saying 'No, nothing'.
Maybe I'm being impatient, I just hate not knowing what is going on.
Thanks.
11K Challenge
5,785/11k
5,785/11k
0
Comments
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Your solicitor will not have any direct contact with the (HA) vendor. The vendor will have a solicitor of its own.
The vendor's solicitor should be sending the draft contract to your solicitor as soon as it is able - the HA needs to provide documentation to its solicitor so the solicitor can draw it up first though.
Nationwide can take a few days to sign-off the valuation report and on occasions, surveyors make mistakes on them and they have to go back for amendment.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
We also had our valuation carried out on behalf of Nationwide last Friday.
We've been informed that our valuation is due to be reviewed by close of business tomorrow, but that didn't mean a guarantee of an offer at that point.
Hope that helps with timescales!0 -
I had a valuation done by Halifax on the Thursday and the mortgage went to full offer on the Friday. Got the offer in writing on the Saturday. Received contract from solicitor the following Wednesday.0
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Hi,
Thanks for the replies.
Coincidently I actually had a text from Nationwide not 30 minutes after posting my original post saying the offer had been made.
I have received an emailed copy and a hard copy is in the post to me.
I guess now it's just waiting on the solicitors. Hopefully not too much longer now!11K Challenge
5,785/11k0
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