The NEW waiting to exchange thread...

laura_lau

good morning everyone! I see a few more people have exchanged late last night, this is amazing, very happy for you all!
I'm very impressed that there are solicitors who work until late to meet deadlines! If I call my solicitor's office after 16:30, not even the receptionist is answering the phone anymore. If I ever do this again, I will spend more time looking for a solicitor than looking for a property, as this seems to be the winning factor!   
Good luck to everyone else (and me) hoping today is the day we exchange!

Octothorpe

Tiglet2 said:

Octothorpe said:

ss2020jd said:

Octothorpe said:

ss2020jd said:

Octothorpe said:

Question for those who may have experienced this...

Our FTB applied for their mortgage with  I think, Barclays and have 10% deposit.

Valuation took place over a month ago - all ok.

However, underwriters asked for an employment reference, or something like that.

Since then it's been THREE WEEKS and still no mortage offer!! We kept being told it'll be all sorted in X days but it never is and still with the underwriters.

EA says everyone is busy with June completions.  But how is that correct for mortgage offers?

He said he chased up FTB broker yesterday and will update me when he hears anything.

Any suggestions? Not sure how long to wait as house we are buying  is the only suitable one we've seen since starting this process back in March, so if for some reason our buyers can't fund it, I need to get my house back on the market asap...

Not exactly the same situation but our buyer’s buyer was still waiting for a mortgage offer on the day we were due to exchange! Their solicitor said it was due to be issued any minute and we were surprised how late in the day this came to light.

I think the fact that everything is overloaded would also trickle down to mortgage applications and offers. There has been a huge lot of pent-up demand and most sectors are struggling to cope with this. 

How close are you to exchange apart from this? We are waiting and have so far agreed to a delayed completion in the hope that we will exchange soon although losing hope for today which was discussed earlier. Do your vendors know about the situation and how long would they be willing to wait? I know I would be more worried if they put their house back on the market if there was any chance that the offer could still come through. 

Wow that sounds crazy!!

EA just messaged to say broker has verbal confirmation all is ok but still waiting on formal offer 😞

Well, we WERE pretty much doing well, or so I thought! Just been told our vendor has only JUST sent off for searches, 8 weeks in!!! 😱😡😤

Oh no, I feel your pain and frustration! That is so annoying. 

How could they leave it so late?! 

I hope the offer comes through soon and the searches don’t take too long. 

Thankyou  😊

I don't get why they left it so long! My EA said he got the feeling it was due to them not receiving the contract pack for ages. But that doesn't stop you applying for searches...?? 🙄

Many solicitors will not order searches before they receive the contract pack (though the buyer will have probably put monies on the account in anticipation).  It is a risk to order searches for a property where the solicitor has not seen the title documents which confirm the precise address.  The buyer can insist that the solicitor orders the searches at the earliest opportunity, but they do risk losing the money if the draft contract pack is never received (vendor changed their mind etc) or they order the search pack for the wrong property because the post code was incorrect (believe me, that has happened!).

Thanks for reply. I think the frustration is that why didn't they chase the contract pack? They are using the same solicitors as their vendors in order to speed up the process supposedly  😂 We had to chase hard for a week to get ours when their solicitors for their sale were taking ages to send it.

There's just obviously no urgency which is hard to swallow when we are trying to be as efficient as possible. 

House buying  - who'd do it?! 😉

ss2020jd

Morning, hope it’s a happy day for some today! 

Just given authority to exchange for what must be the sixth day running. Definitely Groundhog Day again but with a different (and usually not good so far) surprise every day. Hopefully this will be the good day! 

laura_lau

I've just done the usual round of calls and didn't manage to speak with the EA, so I really lost my s*** with the poor receptionist. I told her that I really want to know what's going on because it's been a month that nothing has happened whatsoever and it's been 2 weeks we were supposed to be exchanging and if the seller's EA agent is not able to get hold and get a straight answer from the seller's solicitor then it's really a problem, and that I want to know why the seller's solicitor is so totally unresponsive.
She said she marked this as "urgent". Mah.

Octothorpe

laura_lau said:

I've just done the usual round of calls and didn't manage to speak with the EA, so I really lost my s*** with the poor receptionist. I told her that I really want to know what's going on because it's been a month that nothing has happened whatsoever and it's been 2 weeks we were supposed to be exchanging and if the seller's EA agent is not able to get hold and get a straight answer from the seller's solicitor then it's really a problem, and that I want to know why the seller's solicitor is so totally unresponsive.
She said she marked this as "urgent". Mah.

I hope you hear something soon!! 🤞

CLJ2986

laura_lau said:

I've just done the usual round of calls and didn't manage to speak with the EA, so I really lost my s*** with the poor receptionist. I told her that I really want to know what's going on because it's been a month that nothing has happened whatsoever and it's been 2 weeks we were supposed to be exchanging and if the seller's EA agent is not able to get hold and get a straight answer from the seller's solicitor then it's really a problem, and that I want to know why the seller's solicitor is so totally unresponsive.
She said she marked this as "urgent". Mah.

Ah hope you get some news! I will be calling again later if no update, its getting urgent now as I'm returning to work from mat leave so we just don't have the time to mess around! I'm only doing ten days across the next 2 months but they are all on my partners days off so that leaves us one day a week to move! 

laura_lau

CLJ2986 said:

laura_lau said:

I've just done the usual round of calls and didn't manage to speak with the EA, so I really lost my s*** with the poor receptionist. I told her that I really want to know what's going on because it's been a month that nothing has happened whatsoever and it's been 2 weeks we were supposed to be exchanging and if the seller's EA agent is not able to get hold and get a straight answer from the seller's solicitor then it's really a problem, and that I want to know why the seller's solicitor is so totally unresponsive.
She said she marked this as "urgent". Mah.

Ah hope you get some news! I will be calling again later if no update, its getting urgent now as I'm returning to work from mat leave so we just don't have the time to mess around! I'm only doing ten days across the next 2 months but they are all on my partners days off so that leaves us one day a week to move! 

Thank you, hoping you hear something too! Yes, once you start thinking on how to arrange everything you really realise there's not much time left to get these things done, so it is even more infuriating that all of these weeks have gone wasted!

MayMark

BountyBlink said:

MayMark said:

BountyBlink said:

MayMark said:

Hi All, just wondering once your solicitor receives your mortgage offer, how long it takes to get your mortgage deed to sign, that seems to be what’s holding us up at the moment we have not been sent it, we’ve returned our “gift form” but not had the mortgage deed to sign, it’s been a week. Many thanks 

It is normally sent out when your solicitor “Reports”’to you, ie sends contract, all searches, letter detailing search results and answers to enquiries, mortgage deed, plan title. 

That’s if you are using a good local solicitor. Online solicitors can be a bit sporadic as they seem to rely on portal updates and turn individual things around 

so if your searches are not back I would say you will not sign your mortgage deed until searches, enquiries are all done and you get the full report and contract etc 

Fab thank you for this info! Our searches are done but we haven’t yet received them so I’m wondering if she’s going to send all this as one like you said so I shall chase solicitor tomorrow for it all plus mortgage deed, I think she’s taking longer because she’s focusing on people completing before end of June but I want ours sorted ASAP too we are paying enough 😂

Just send a one line email to your solicitor (always found the one line emails get replied to the Quickest- something like... 

dear 

Please can you confirm when you will Report to me inc Contract/Mortage Deed & Search/Enq results. 

Thanks 

Thank you so much for this, we emailed on that day and got the whole pack with everything in it the following day!

MayMark

TBG01 said:

MayMark said:

BountyBlink said:

MayMark said:

Hi All, just wondering once your solicitor receives your mortgage offer, how long it takes to get your mortgage deed to sign, that seems to be what’s holding us up at the moment we have not been sent it, we’ve returned our “gift form” but not had the mortgage deed to sign, it’s been a week. Many thanks 

It is normally sent out when your solicitor “Reports”’to you, ie sends contract, all searches, letter detailing search results and answers to enquiries, mortgage deed, plan title. 

That’s if you are using a good local solicitor. Online solicitors can be a bit sporadic as they seem to rely on portal updates and turn individual things around 

so if your searches are not back I would say you will not sign your mortgage deed until searches, enquiries are all done and you get the full report and contract etc 

Fab thank you for this info! Our searches are done but we haven’t yet received them so I’m wondering if she’s going to send all this as one like you said so I shall chase solicitor tomorrow for it all plus mortgage deed, I think she’s taking longer because she’s focusing on people completing before end of June but I want ours sorted ASAP too we are paying enough 😂

So you know she's busy but you're still going to chase her for something that will eventually come to you when it's ready. Why?

She was obviously sitting on it because we emailed and then received it the next day! I think it’s perfectly fine to email and ask, we are paying them enough!! We wanted to complete before end of June but have been reasonable that although we are pretty much there we aren’t putting pressure on our solicitor to do it by then, it would save us £16,000.

MayMark

When you sign contracts, mortgage deeds etc etc...does the witness have to be not related? Or can it be like our parents!?