The NEW waiting to exchange thread...

baileykxo

E_D_FTB said:

@baileykxo - excellent news! Totally agree on that, honestly I just want to exchange, then completion can take as long as it takes!

Same here! I cannot wait for that stress relief!! Goodluck! 

TheScone

Good luck, @baileykxo and @Tiddleshalifax!

Our valuation is today, so hoping that we will hear about a mortgage offer before the weekend!

I also sent off to get a quote for a survey, would people recommend waiting until we have the mortgage offer to book the survey in? Our broker said we have been "approved", we are just waiting on the valuation to get the offer (that is my understanding anyway!)

baileykxo

TheScone said:

Good luck, @baileykxo and @Tiddleshalifax!

Our valuation is today, so hoping that we will hear about a mortgage offer before the weekend!

I also sent off to get a quote for a survey, would people recommend waiting until we have the mortgage offer to book the survey in? Our broker said we have been "approved", we are just waiting on the valuation to get the offer (that is my understanding anyway!)

Thank you! Goodluck with your valuation, sure it’ll be fine!

cheeky-peach

E_D_FTB said:

@cheeky_peach You're paying for a service, if you feel you're not getting that service then complain! They're not doing anything for free, and at the very least they should be keeping you updated.

I did just call and have a moan and she has taken away some actions and will get back to me so hopefully we will hear back! Fingers crossed...

tomnookfan

Our solicitor has sent out our final report so this week we should be talking about completion dates - yay!!

We're moving out of a rented property, and will be paying rent to at least the first week of September - does anyone have any advice about when would be best to suggest so we're not COMPLETELY skint after we move in? 

E_D_FTB

tomnookfan said:

Our solicitor has sent out our final report so this week we should be talking about completion dates - yay!!

We're moving out of a rented property, and will be paying rent to at least the first week of September - does anyone have any advice about when would be best to suggest so we're not COMPLETELY skint after we move in? 

Oh boy do I feel you on this! We've had the rest of our chain suggest 22nd Sep for completion to avoid the Stamp Duty rise, but that means overlapping rent and bills for us which is far from ideal.

How much notice do you need to give on your tenancy? As long as your last rent is in the same calendar month as your completion date, then you shouldn't get an overlap. Otherwise it's just a case of working out how much overlap you can afford and making that clear to everyone else. For our purchase, we've said we can do 22nd IF we exchange the first week of Sep, as this is the most overlap we can afford. If it's not done by then, then it'll have to be Oct.

I think do the maths of what you're comfortable with, then set that as the date -and if that does mean you're overlapping, make that clear and that you're spending money to make this work for the rest of the chain. Hope that helped!

tomnookfan

E_D_FTB said:

tomnookfan said:

Our solicitor has sent out our final report so this week we should be talking about completion dates - yay!!

We're moving out of a rented property, and will be paying rent to at least the first week of September - does anyone have any advice about when would be best to suggest so we're not COMPLETELY skint after we move in? 

Oh boy do I feel you on this! We've had the rest of our chain suggest 22nd Sep for completion to avoid the Stamp Duty rise, but that means overlapping rent and bills for us which is far from ideal.

How much notice do you need to give on your tenancy? As long as your last rent is in the same calendar month as your completion date, then you shouldn't get an overlap. Otherwise it's just a case of working out how much overlap you can afford and making that clear to everyone else. For our purchase, we've said we can do 22nd IF we exchange the first week of Sep, as this is the most overlap we can afford. If it's not done by then, then it'll have to be Oct.

I think do the maths of what you're comfortable with, then set that as the date -and if that does mean you're overlapping, make that clear and that you're spending money to make this work for the rest of the chain. Hope that helped!

We have to give a months notice so we've tentatively done that, luckily landlord has come back this morning and said we could do weekly rent in September so we may not be so bad. I think my fear is that this purchase has been going on since April and the vendor will definitely want to complete ASAP (which we do too, but the money!! haha) 

That does help though, thanks so much! Will do the calculations today!

E_D_FTB

tomnookfan said:

E_D_FTB said:

tomnookfan said:

Our solicitor has sent out our final report so this week we should be talking about completion dates - yay!!

We're moving out of a rented property, and will be paying rent to at least the first week of September - does anyone have any advice about when would be best to suggest so we're not COMPLETELY skint after we move in? 

Oh boy do I feel you on this! We've had the rest of our chain suggest 22nd Sep for completion to avoid the Stamp Duty rise, but that means overlapping rent and bills for us which is far from ideal.

How much notice do you need to give on your tenancy? As long as your last rent is in the same calendar month as your completion date, then you shouldn't get an overlap. Otherwise it's just a case of working out how much overlap you can afford and making that clear to everyone else. For our purchase, we've said we can do 22nd IF we exchange the first week of Sep, as this is the most overlap we can afford. If it's not done by then, then it'll have to be Oct.

I think do the maths of what you're comfortable with, then set that as the date -and if that does mean you're overlapping, make that clear and that you're spending money to make this work for the rest of the chain. Hope that helped!

We have to give a months notice so we've tentatively done that, luckily landlord has come back this morning and said we could do weekly rent in September so we may not be so bad. I think my fear is that this purchase has been going on since April and the vendor will definitely want to complete ASAP (which we do too, but the money!! haha) 

That does help though, thanks so much! Will do the calculations today!

Boy, that is lucky, sounds like a pretty decent landlord! We're currently ignoring our landlord/EA with a tenancy renewal in the hopes we exchange some time this month. But until we do, I just don't want to take the risk of telling him we're buying in case something goes wrong and it all falls through. SO STRESSFUL

tomnookfan

E_D_FTB said:

tomnookfan said:

E_D_FTB said:

tomnookfan said:

Our solicitor has sent out our final report so this week we should be talking about completion dates - yay!!

We're moving out of a rented property, and will be paying rent to at least the first week of September - does anyone have any advice about when would be best to suggest so we're not COMPLETELY skint after we move in? 

Oh boy do I feel you on this! We've had the rest of our chain suggest 22nd Sep for completion to avoid the Stamp Duty rise, but that means overlapping rent and bills for us which is far from ideal.

How much notice do you need to give on your tenancy? As long as your last rent is in the same calendar month as your completion date, then you shouldn't get an overlap. Otherwise it's just a case of working out how much overlap you can afford and making that clear to everyone else. For our purchase, we've said we can do 22nd IF we exchange the first week of Sep, as this is the most overlap we can afford. If it's not done by then, then it'll have to be Oct.

I think do the maths of what you're comfortable with, then set that as the date -and if that does mean you're overlapping, make that clear and that you're spending money to make this work for the rest of the chain. Hope that helped!

We have to give a months notice so we've tentatively done that, luckily landlord has come back this morning and said we could do weekly rent in September so we may not be so bad. I think my fear is that this purchase has been going on since April and the vendor will definitely want to complete ASAP (which we do too, but the money!! haha) 

That does help though, thanks so much! Will do the calculations today!

Boy, that is lucky, sounds like a pretty decent landlord! We're currently ignoring our landlord/EA with a tenancy renewal in the hopes we exchange some time this month. But until we do, I just don't want to take the risk of telling him we're buying in case something goes wrong and it all falls through. SO STRESSFUL

We can actually relate on that, we put an offer on the house in April and everything was moving so quickly and our LL had told us ages ago she wanted to sell the flat when we move out, and being the good tenants we are we told her about our house sale, she put the house on the market, and then 4 months of delays and chances of falling through ensued! My partner also let her give us less than the legal 4 months notice so if she does try and screw us over in this last month I'm gonna scream haha

Before last week it was looking very likely we were going to be moving into my dad's for a bit which would have been more stressful than a move !

TheScone

E_D_FTB said:

Boy, that is lucky, sounds like a pretty decent landlord! We're currently ignoring our landlord/EA with a tenancy renewal in the hopes we exchange some time this month. But until we do, I just don't want to take the risk of telling him we're buying in case something goes wrong and it all falls through. SO STRESSFUL

We've had a similar thing! Went onto a rolling contract due to Covid last year and when they asked us to sign for another year I just said the rolling contract is working just fine for us so we're sticking with that for now.

I'm hesitant to let the EA or Landlord even have a clue that we will be moving in the next few months, just in case anything happens. My friends suggested giving our month notice before we exchange to avoid a crossover, once we have an idea of when it will be, but that just feels way too risky! Will be super annoying if we have to pay both rent and the new mortgage at the same time though. I guess that is a bridge to cross when I come to it!