The NEW waiting to exchange thread...

Sacher50

trance_abbey said:

Arrrrgh.
I realised that I have the sellers phone number so I called this afternoon and asked about all the outstanding documents and she misunderstood who I was / what I was asking about and spilled that there’s a massive boundary dispute
Some years ago (I don’t know when) she and her husband agreed to move the boundary fence so the neighbours could have some of their garden so they could fit a shed at the back of their property.. When I viewed the property I was told that the shed was being demolished and the fence would be restored to the boundary line, but apparently the neighbour is now refusing to give the land back and said to take her to court to fight for it!!

The whole story was a bit hard to follow, but it seems as though the neighbour is now in care and the son has taken over managing the property so they are going to try to negotiate with him.

After all that I still don't know if they've sent through the documents and now I have a new thing to worry about...

I'm never going to get this purchase through before the stamp duty deadline

What a nightmare! I'm so sorry, on the face of it that sounds like it'll be hellish to sort out. What was your solicitor's reaction when you told them?

ZSC

Good luck for everyone hoping for either exchange or completion today and tomorrow! 

I’m a bag of nerves waiting to hear from our solicitor to see if she has managed to exchange today... other wise it will be a same day exchange/completion tomorrow. 

Oh... but that’s only if they have received my sellers signed documents 😩🤞🏼

sw7

ZSC said:

Good luck for everyone hoping for either exchange or completion today and tomorrow! 

I’m a bag of nerves waiting to hear from our solicitor to see if she has managed to exchange today... other wise it will be a same day exchange/completion tomorrow. 

Oh... but that’s only if they have received my sellers signed documents 😩🤞🏼

Good luck ZSC !

We gave authority to exchange about an hour ago. Solicitor said she'll be back in touch later today... hopefully with good news.

As a side note, our actual contact at the solicitors - now that we are attempting to exchange - has changed from fast-but-terse conveyancer to the most cheerful person in the world. Not sure if this one is more competent but she's an absolute delight to talk to.

Louise.H

@ZSC hope you manage to to exchange this week.
Just received an automated email reply from my conveyancers assistant saying she's out of the office Tues, Thurs and Frid and her working days are Tues, Thurs and Fri?? I don't have much confidence in her already. 

laura_lau

@ZSC thank you! good luck to you too! We can be bags of nerves together on this forum    I have no idea even if it is a possibility to exchange today, since my seller's solicitor has been unreachable (even from the seller herself and her EA) since last week. so I'm nervously waiting any kind of news. Just called the EA and they haven't heard anything either, so they'll try to get hold of the solicitor (they weren't able on Tuesday) and call me back, hopefully with some news. 

ZSC

sw7 said:

ZSC said:

Good luck for everyone hoping for either exchange or completion today and tomorrow! 

I’m a bag of nerves waiting to hear from our solicitor to see if she has managed to exchange today... other wise it will be a same day exchange/completion tomorrow. 

Oh... but that’s only if they have received my sellers signed documents 😩🤞🏼

Good luck ZSC !

We gave authority to exchange about an hour ago. Solicitor said she'll be back in touch later today... hopefully with good news.

As a side note, our actual contact at the solicitors - now that we are attempting to exchange - has changed from fast-but-terse conveyancer to the most cheerful person in the world. Not sure if this one is more competent but she's an absolute delight to talk to.

Eeeek fingers crossed for us both then that we hear something today! 

We have been so lucky with our solicitor, the last one we had was just awful, it’s incredible the difference a good one can make! 

ZSC

laura_lau said:

@ZSC thank you! good luck to you too! We can be bags of nerves together on this forum    I have no idea even if it is a possibility to exchange today, since my seller's solicitor has been unreachable (even from the seller herself and her EA) since last week. so I'm nervously waiting any kind of news. Just called the EA and they haven't heard anything either, so they'll try to get hold of the solicitor (they weren't able on Tuesday) and call me back, hopefully with some news. 

I don’t know if your like me but I’m refreshing my emails every ten minutes to see if anything has happened!!!! 

TheTruemans

sw7 said:

TheTruemans said:

Hey folks, 
We have just received our mortgage offer in the post from Barclays and I have a question as I’m confused about something... 
The one page says...
The amount of £165,965.00 will be sent to your solicitor for completion.
Another page says...
Amount and currency of loan to be granted: £166,000.00
Then... (Which is all correct)  
The purchase price of the property assumed to prepare this offer: £190,000
Maximum LTV 90%
The maximum amount you could theoretically borrow on this loan would be £171,000... which is exactly what we expect it to be. 

I’m going to assume this has something to do with our interest rate but perhaps someone can advise!? 

Thanks 😊 

Is your confusion over the £165,965 vs £166,000?

I would guess there is a £35 fee for them transferring the mortgage funds to your solicitor, which should be listed elsewhere in the offer. Instead of charging you for that explicitly, they just deduct it from the money lent.

Thanks! No my confusion was that the loan amount was £166,000 but the amount required would be £171,000 which is the theoretical maximum amount, Apparently our broker make a mistake and put our deposit as £24,000 not £19,000 - apparently a simple fix
** Anxiety entered the chat ** (Again)

laura_lau

ZSC said:

laura_lau said:

@ZSC thank you! good luck to you too! We can be bags of nerves together on this forum    I have no idea even if it is a possibility to exchange today, since my seller's solicitor has been unreachable (even from the seller herself and her EA) since last week. so I'm nervously waiting any kind of news. Just called the EA and they haven't heard anything either, so they'll try to get hold of the solicitor (they weren't able on Tuesday) and call me back, hopefully with some news. 

I don’t know if your like me but I’m refreshing my emails every ten minutes to see if anything has happened!!!! 

I refresh my emails every 3 minutes, and i've been doing it for a while now! It's driving me insane, aha! My productivity will increase a lot once all of this is finished! I'm pretty sure most of us, at this stage, are doing the same!

sw7

TheTruemans said:

Thanks! No my confusion was that the loan amount was £166,000 but the amount required would be £171,000 which is the theoretical maximum amount, Apparently our broker make a mistake and put our deposit as £24,000 not £19,000 - apparently a simple fix
** Anxiety entered the chat ** (Again)

Ah, sorry, I misunderstood. Interesting that the broker can just update that to borrow the maximum for that product, presumably without needing to reapply?

Ours says we can borrow 95% LTV which is surprising considering we're putting down 20%. If we decided last minute to only pay 5% deposit,  I wonder if that would be a simple fix too...  (obviously not going to).