Completion Timescale

FirstTimeBen

Hi all,

I'm currently going through the process of buying my first home (at the third time of trying -long story but I'm keeping everything crossed :silenced:).
Anyway, my mortgage offer was issued last week, and my solicitor also issued me with Land Registry forms to sign (transfer etc) along with a copy of the lease. I'm told the remainder of my searches will be complete in the next week or so.

Taking into account that all of the abov eare now complete (or close), my assumption was that completion isn't too far off. However, my solicitor now tells me it could be another 6 weeks away from here!
Does this sound right?
Any input will be appreciated, thanks.

marksoton

Did you not ask them what they were basing this timescale on?

FirstTimeBen

I did - he simply said 'because it is leasehold'.
I get the impression he is getting annoyed with me regularly chasing things up, but I can't risk losing another property!

marksoton

FirstTimeBen wrote: »

I did - he simply said 'because it is leasehold'.
I get the impression he is getting annoyed with me regularly chasing things up, but I can't risk losing another property!

Well leasehold can add time. Could be any number of reasons...

FirstTimeBen

Appreciate this, just wondered if 6 weeks was a realistic timescale. Apparently there is a Deed of Covenant to enter into, which I'm presuming may be the cause of delay.

marksoton

Could well be.

I think the consensus on here is about 12 weeks from start to finish is "average"

G_M

Sounds like he is anticipating a delay getting responses from the freeholder. This is not uncommon.

However there are 53 other potential reasons for delay, and we have no idea what other jobs still need doing.

Is there a chain? Might be someone else in the chain who neds the 6 weeks - who knows?

Poppy3008

Just keep chasing your solicitor. It took 6 months for us to complete on our house - offer accepted end Feb and competed 25 Aug!! Things inky got moving when we contacted the sellers direct, went up and had a coffee with them, at the house, and realised both parties solicitors were doing very little and blaming the others for slowness! We completed after we set a date ourselves and took a few weeks afte that meeting. There was NO CHAIN!! Ridiculous. I would only ever use a solicitor I could walk in to their office in the future and harness them In person!

FirstTimeBen

Thanks for the feedback. I've actually spoken to my solicitor today regarding this, and he states 6 weeks is the 'worst-case' scenario and it could be quicker depending how things go.
Fingers crossed that this is the case!

lewishardwick

A leasehold sale will delay things a bit.

My solicitor is currently waiting on decent account information from the freeholder as they've just sent a screen grab of a load of number, so is unhappy to proceed.

Asking for regular updates is not unreasonable request. I tend to chase weekly.