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The NEW waiting to exchange thread...
Comments
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Finally getting somewhere close to exchanging (18 weeks in the making) gave deadline of end of month so fingers crossed.
Solicitors currently arguing over exclusive right to park! I have been to the property various different times during the day and different days including weekend and there is always parking available...my solicitors are saying it might devalue the property!
Fingers crossed we can get this tied up just want to move now0 -
I'm FTB and flying solo here, so keen to add my own timeline to this thread for others! This forum has been an amazing source of information for me so far.
2 August: Viewed property and put in an offer.
3 August: Offer accepted, property taken off the market. Appointment with mortgage broker (Embrace).
4 August: Solicitor appointed (Let's Move). Memorandum of sale issued by agent.
5 August: Mortgage applied for through broker (NatWest). Hard search on my credit file run same evening.
9 August: Solicitor sends draft contracts and paperwork.
11 August: NatWest valuation takes place.
12 August: Solicitor passes on my/their questions for the seller's solicitors.
18 August: Full mortgage offer received. Paperwork shows a small error in the address, so am going back to have it corrected and make sure there are no issues. Survey instructed (local surveyor, date TBC).
My lease comes up for renewal on the flat I rent on 6 November. So I'm hoping to be able to give notice on 6 October and leave at the end of my contracted term. The seller is an elderly lady moving into a flat she's bought in an assisted living complex, and is keen to wrap it all up in pretty good time. Fingers crossed for a (relatively) smooth move!NatWest FTB 90% LTV
2/8/21: View property and put in offer.
3/8/21: Offer accepted. Appointment with mortgage broker (Embrace).
4/8/21: Solicitor appointed (Let's Move Conveyancing). Memo of sale issued by EA (Your Move).
5/8/21: Mortgage applied for (NatWest). Hard search on my credit file.
9/8/21: Solicitor sends draft contracts.
11/8/21: NatWest valuation takes place.
12/8/21: Enquiries go to seller's solicitors.
18/8/21: Mortgage offer arrives.
22/8/21: Gazumped. Counter-offer made.
23/8/21: Counter-offer accepted. 2nd memo of sale issued. Survey booked.
26/8/21: NatWest refuse to lend on counter-offer. Back to seller with lower offer.
27/8/21: Seller accepts lower offer.
3/9/21: 3rd memo of sale issued.
6/9/21: Survey takes place. All searches returned.
15/9/21: Homebuyer's Report arrives.
17/9/21: New mortgage offer arrives.
20/9/21: Instruct LISA provider to contact my solicitor.
7/10/21: Enquiries back from seller's solicitor.
15/10/21: Exchange.
5/11/21: Complete.
9/11/21: Move in.0 -
Welcome @slightlyfoxd! Fingers crossed things will keep going smoothly for you. We had similar hopes for completing before our Fixed Term ended on our rental on 31 Aug, but alas it wasn't meant to be. Good thing is you can just go onto a rolling periodic contract at the end of a fixed term if things run over. Definitely cleaner to get out before the contract ends though!10th June - DIP submitted
11th June - DIP referred to underwriter
12th June - Viewed house, offer made and accepted
14th June - DIP accepted and full application submitted
16th June - Valuation booked for 18th
18th June - Valuation completed - received text and email confirming the report had been received by Nationwide for review.
22nd June - Hard search (Transunion)
24th June - Second hard search (Equifax)
1st July - Extra documents requested and uploaded by Broker
9th July - Proof of Deposit requested and uploaded by Broker
12 July - Searches applied for
19th July - Problem with Proof of Deposit upload - reuploaded by Broker with narrative
19th July - Survey carried out
20th July - Offer issued - checked and confirmed by Broker
21st July - Contract checks complete
22nd July - Additional enquiries sent
23rd July - Survey report returned
27th July - Documents reviewed and okayed with solicitor
4th August - Searches back
31st August - Final enquiries back
8th September - Contracts signed
15th September - Deposit money transferred
28th September - Exchange
30th September - Proposed Completion1 -
mooncake89 said:Can I ask, for those of you who have exchanged or in terms of previous property purchases... how long after exchange has it typically taken for you to have sent over to your solicitor the remaining balance for the property?
We exchanged a week ago and are due to complete this Friday and have wanted to pay our money in as soon as possible (40% of the house's value, minus the exchange deposit), but we're still waiting on the financial statement from our solicitor (they were on annual and then sick leave, so somebody else exchanged for us but then we didn't hear from anyone about what was to happen next). Can't help but be increasingly anxious that if there is a problem with the transfer of this huge amount of money from the bank we have an increasingly tiny window of time to sort it out!
Ive paid mine before the exchange- I am buying a repo tho and it has been handled differently to other sales as no chain and I am not dealing with a home owner, I am dealing with a bank.
I need to get the dates now as I have loads to sort out and I cant get the kids into school unless I have a proof of address, Because we are doing a long distance move its not as simple as putting them in school in one area and then moving after.0 -
I had my mortgage offer come through the post today but they haven't made a search on my credit report so I am slightly confused by that or do they do that at a later date?
I have no idea what is happening at all with my purchase and I'm a rather clueless FTB.
It's all done online and I can see from the progress that we aren't that far in at all.
Solicitor hasn't done any sort of onboarding or introduction so I think I'm going to send an email to find out where we are and what will be happening next so I can manage expectations.0 -
@Otb21 - Wow, I felt exhausted for you after reading your story. Well done for hanging in on there!I've been lurking and drawing inspiration/hope from those of you who have managed to Complete in the last few weeks. I had more or less given up on our purchase a couple of weeks ago as our vendor still hadn't found an onward purchase. Heard from the EA yesterday that he has finally had an offer accepted but I can't bring myself to get my hopes up. I have no idea what the chain looks like now as don't know if the vendor's seller is buying. The EA is still waiting to hear back regarding this. It's been almost 2 months since my offer was accepted and the slow progress made so far just makes me resigned to the fact I'll still be in our rental at Xmas. A horrible thought really as I desperately want to move out but if I set my expectations as low as possible I might be pleasantly surprised!0
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Well we exchanged last Friday and we complete in two days time!
confirmed with solicitor this morning that funds had been requested in good time.
This evening our sellers are kindly allowing us to visit the house to check on a few last minute things that will make moving in that much easier.
starting to feel real…3 -
Congrats!Boredfatman said:Well we exchanged last Friday and we complete in two days time!
confirmed with solicitor this morning that funds had been requested in good time.
This evening our sellers are kindly allowing us to visit the house to check on a few last minute things that will make moving in that much easier.
starting to feel real…1 -
well done !! some of us are exchanging at least !!Boredfatman said:Well we exchanged last Friday and we complete in two days time!
confirmed with solicitor this morning that funds had been requested in good time.
This evening our sellers are kindly allowing us to visit the house to check on a few last minute things that will make moving in that much easier.
starting to feel real…1 -
The seller at the end of our small chain is buying a new build which is almost ready so they are giving a completion date of "to be confirmed" on the contract
Some results of a Google search say a date must be on the contracts before exchanging.. How common is it to exchange without a completion date?0
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