The NEW waiting to exchange thread...

laura_lau

Good morning everyone, good luck to those who are aiming to exchange and complete today!
So we got confirmation from a solicitor that my partner can have an appointment there tomorrow and they can sign and discuss the deed of consent. He's going to have to drive quite a bit, as we couldn't find anyone available nearer to home, but he's willing to do it. Then he's going to send me the signed form immediately and I agreed with my solicitor asap, as she will aim to exchange tomorrow before end of day. I'm not holding my breath for it, I expect it to happen on Monday, I don't want to feel like Tuesday again!!!
If everything goes according to plan, we might be able to then complete by Tuesday. Fingers crossed!

Firsttime2021

laura_lau said:

Good morning everyone, good luck to those who are aiming to exchange and complete today!
So we got confirmation from a solicitor that my partner can have an appointment there tomorrow and they can sign and discuss the deed of consent. He's going to have to drive quite a bit, as we couldn't find anyone available nearer to home, but he's willing to do it. Then he's going to send me the signed form immediately and I agreed with my solicitor asap, as she will aim to exchange tomorrow before end of day. I'm not holding my breath for it, I expect it to happen on Monday, I don't want to feel like Tuesday again!!!
If everything goes according to plan, we might be able to then complete by Tuesday. Fingers crossed!

Oh what a relief for you!!! I have everything crossed for you. 

tommyt-saver

laura_lau said:

Good morning everyone, good luck to those who are aiming to exchange and complete today!
So we got confirmation from a solicitor that my partner can have an appointment there tomorrow and they can sign and discuss the deed of consent. He's going to have to drive quite a bit, as we couldn't find anyone available nearer to home, but he's willing to do it. Then he's going to send me the signed form immediately and I agreed with my solicitor asap, as she will aim to exchange tomorrow before end of day. I'm not holding my breath for it, I expect it to happen on Monday, I don't want to feel like Tuesday again!!!
If everything goes according to plan, we might be able to then complete by Tuesday. Fingers crossed!

Great news. Wishing you a smoother journey towards the finish line now!

TheTruemans

tommyt-saver said:

TheTruemans said:

Good morning folks, 
Hope you’re well, We just received our mortgage report from our solicitor and we have noticed a mortgage condition that my wife pays upwards of £3k of her student loan 30 days prior to completion!
At no point did we sign a Barclays declaration form to agree to this condition to repay any existing debts of which we have non apart from her student loan.

This has worried the hell out of us as any money saved is needed for the house renovations - we’re hoping our broker can sort this out, anyone else had this issue or can advise? 

Thanks 😊 

Was this shown in your mortgage offer letter? Or completely out of the blue at the report stage? 

Now we’ve fully reviewed the mortgage offer it’s deep in the fine print of the mortgage conditions, We spoke to our broker and they were just as surprised as us so have gone straight back to Barclays. We’re more surprised as the student loan wasn’t required to be declared and we didn’t agree to any outstanding debts to be cleared prior to completion. There is a separate declaration form Barclays require for this, which we’ve never even seen. 

Irishpearce26

TheTruemans said:

tommyt-saver said:

TheTruemans said:

Good morning folks, 
Hope you’re well, We just received our mortgage report from our solicitor and we have noticed a mortgage condition that my wife pays upwards of £3k of her student loan 30 days prior to completion!
At no point did we sign a Barclays declaration form to agree to this condition to repay any existing debts of which we have non apart from her student loan.

This has worried the hell out of us as any money saved is needed for the house renovations - we’re hoping our broker can sort this out, anyone else had this issue or can advise? 

Thanks 😊 

Was this shown in your mortgage offer letter? Or completely out of the blue at the report stage? 

Now we’ve fully reviewed the mortgage offer it’s deep in the fine print of the mortgage conditions, We spoke to our broker and they were just as surprised as us so have gone straight back to Barclays. We’re more surprised as the student loan wasn’t required to be declared and we didn’t agree to any outstanding debts to be cleared prior to completion. There is a separate declaration form Barclays require for this, which we’ve never even seen. 

I asked my lender about my student loan monthly payment when porting and borrowing more. I was told it needs to be part of the affordability. All was good with the application and i have a far greater amount than £3k.

TheTruemans

Irishpearce26 said:

TheTruemans said:

tommyt-saver said:

TheTruemans said:

Good morning folks, 
Hope you’re well, We just received our mortgage report from our solicitor and we have noticed a mortgage condition that my wife pays upwards of £3k of her student loan 30 days prior to completion!
At no point did we sign a Barclays declaration form to agree to this condition to repay any existing debts of which we have non apart from her student loan.

This has worried the hell out of us as any money saved is needed for the house renovations - we’re hoping our broker can sort this out, anyone else had this issue or can advise? 

Thanks 😊 

Was this shown in your mortgage offer letter? Or completely out of the blue at the report stage? 

Now we’ve fully reviewed the mortgage offer it’s deep in the fine print of the mortgage conditions, We spoke to our broker and they were just as surprised as us so have gone straight back to Barclays. We’re more surprised as the student loan wasn’t required to be declared and we didn’t agree to any outstanding debts to be cleared prior to completion. There is a separate declaration form Barclays require for this, which we’ve never even seen. 

I asked my lender about my student loan monthly payment when porting and borrowing more. I was told it needs to be part of the affordability. All was good with the application and i have a far greater amount than £3k.

Yeah that's the confusing part, We know that the money repayment is taken into consideration as a part of her income, but that amount never changes - her Student loan is circa £10k so not sure why they've chosen such a random amount. 

Also Barclays does require a signed debt repayment declaration though which we never signed, so this is odd.

https://intermediaries.uk.barclays/content/dam/intermediaries-uk-barclays/pdf/useful-documents/residential/BAR_9915479_UK-1020.PDF

CLJ2986

@laura_lau hope you get it all sorted! Sounds positive though! I spoke to my solicitor, apparently the indemnity was included in the search pack I was sent. No where did it ask me if I wanted it or anything though 😳 but the completion statement is all paid up and now we are just waiting to exchange contracts and complete next Friday!

laura_lau

CLJ2986 said:

@laura_lau hope you get it all sorted! Sounds positive though! I spoke to my solicitor, apparently the indemnity was included in the search pack I was sent. No where did it ask me if I wanted it or anything though 😳 but the completion statement is all paid up and now we are just waiting to exchange contracts and complete next Friday!

@CLJ2986 Thank you!!! Yes, hopefully it goes more smoothly now, so looks like we will be completing on the same week!
It's annoying you were not made aware of that, but I agree by this point you just pay up and want to get it done with! Like in my case, I would have liked to be able to say "no dear lender, you can't force my partner to go and instruct and pay a solicitor just to please you, keep your offer and I will change lender!", but that would have meant an even longer wait, so not much choice there! The important thing is that we are very close! Hope your first few days at work were not too brutal!!!

ss2020jd

laura_lau said:

Good morning everyone, good luck to those who are aiming to exchange and complete today!
So we got confirmation from a solicitor that my partner can have an appointment there tomorrow and they can sign and discuss the deed of consent. He's going to have to drive quite a bit, as we couldn't find anyone available nearer to home, but he's willing to do it. Then he's going to send me the signed form immediately and I agreed with my solicitor asap, as she will aim to exchange tomorrow before end of day. I'm not holding my breath for it, I expect it to happen on Monday, I don't want to feel like Tuesday again!!!
If everything goes according to plan, we might be able to then complete by Tuesday. Fingers crossed!

I really hope you get it sorted! Keeping all crossed for you. You will get there in the end! 

ss2020jd

Firsttime2021 said:

We managed it!!!

exchanged at 10.15 completed at 3.15.

Good luck to everyone who were completing today. 

A big glass of wine is needed tonight. 6 months of stress is over 🎉🎉🎉🎉

So happy for you! Wow, all in one day. Brilliant news. Major congratulations!