The NEW waiting to exchange thread...

slightlyfoxd

Hope everyone's weeks are doing what they want them to!

We just keep going back and forth since I was gazumped last week. The lender now says the property isn't necessarily worth the new amount (just under) so they won't lend me the full extra amount.

The agent is speaking to the seller now. This gives them further incentive to go with the other bidder who isn't FTB so not hampered by this issue. Alternatively, as my broker has said, I can stump up the extra ££££s as it 'might help my case'.

Don't think this is looking good?

Cookie211

slightlyfoxd said: 

Hope everyone's weeks are doing what they want them to!

We just keep going back and forth since I was gazumped last week. The lender now says the property isn't necessarily worth the new amount (just under) so they won't lend me the full extra amount.

The agent is speaking to the seller now. This gives them further incentive to go with the other bidder who isn't FTB so not hampered by this issue. Alternatively, as my broker has said, I can stump up the extra ££££s as it 'might help my case'.

Don't think this is looking good?

I hope it works out for u, fingers crossed 🤞 

House_owner

Finally got an update - from my sellers estate agent. Their solicitors have sent answers to the enquires to my solicitor and she has asked for an up to date EPC (it ran out in June) and for indemnity insurance for the boiler.
Interesting that the estate agent gave me this update and not the solicitor... 
Interesting that the answers to the enquires only got sent to our solicitor after I had asked the estate agent to push for them.
Interesting that seller hadn't got an up to date EPC - surely they and the estate agent would know that this would be needed from our solicitor
And... What is it about these indemnity policies?! I had to get one for the boiler for my house as well. These policies weren't around 18 years ago when I last sold and brought so why are they so fashionable now- especially as I understand, that they are not worth the paper they are written on!

Hope everyone else is making progress!

WorriedKirkels

House_owner said:

Finally got an update - from my sellers estate agent. Their solicitors have sent answers to the enquires to my solicitor and she has asked for an up to date EPC (it ran out in June) and for indemnity insurance for the boiler.
Interesting that the estate agent gave me this update and not the solicitor... 
Interesting that the answers to the enquires only got sent to our solicitor after I had asked the estate agent to push for them.
Interesting that seller hadn't got an up to date EPC - surely they and the estate agent would know that this would be needed from our solicitor
And... What is it about these indemnity policies?! I had to get one for the boiler for my house as well. These policies weren't around 18 years ago when I last sold and brought so why are they so fashionable now- especially as I understand, that they are not worth the paper they are written on!

Hope everyone else is making progress!

It is funny how things move when EAs or other solicitors get involved! I agree about indemnity policies - hope no one ever has cause to use one 😬 

No movement for me but I think I’ve given up, at least until Tuesday. I’m going to enjoy the bank holiday and the ☀️ we have been promised instead 😀 x

Cookie211

Anyone know how long it takes to exchange, still haven’t heard anything and don’t want to email my solicitor again incase im doing her head in lol 

fusedhyperion

Cookie211 said:

Anyone know how long it takes to exchange, still haven’t heard anything and don’t want to email my solicitor again incase im doing her head in lol 

You're paying them - would worry about them being annoyed!

Monsternextdoor

Cookie211 said:

Anyone know how long it takes to exchange, still haven’t heard anything and don’t want to email my solicitor again incase im doing her head in lol 

Few days im lead to believe. 

But tbh I have gave up messaging the solicitor, I now need to get serious with packing but i'm away this weekend. The kids have been at nanny and grandads for a few weeks and they don't want to come home

Not fussed tho as they can stay there and go to school from there so we can get moved properly.

Cookie211

Monsternextdoor said:

Cookie211 said:

Anyone know how long it takes to exchange, still haven’t heard anything and don’t want to email my solicitor again incase im doing her head in lol 

Few days im lead to believe. 

But tbh I have gave up messaging the solicitor, I now need to get serious with packing but i'm away this weekend. The kids have been at nanny and grandads for a few weeks and they don't want to come home

Not fussed tho as they can stay there and go to school from there so we can get moved properly.

It’s so hard when u got the kids running around u, if we do have the keys tomorrow then the kids are stuck down the new house while I decorate as they not back in school till sep 6th they will really do my head in then haha 😛 

Monsternextdoor

I've moved multiple times with the kids, I think this is my 7 ish move in 13 years ...

I do tend to send them to my mums tho when the wagon is due and the unpacking needs doing, Ive moved with a 6 month old and a dog in the middle of winter before now, That was fun ..... Not !! 

This will be our last move tho, Sick of moving now ! Its time to settle and get sorted.

blueorchid94

Hi all, not posted on this thread before but have been reading it quite a bit recently as we are hopefully nearly at exchange and completion ourselves... Great to see other people's experiences! Best of luck to everyone hoping to complete this week or next   😊

Our timeline has been like this so far:
29th May - Offer accepted (using a DIP from a different lender)
1st June - Nationwide DIP applied for and received via broker
2nd June - Full mortgage application made
15th June - After what felt like ages, text to say valuation and HB survey booked for 28th
28th June - Valuation and HB survey
1st July - Received valuation and HB survey report with zero value pending structural engineer's report (house is steel framed)
9th July - Structural engineer inspection
13th July - Searches applied for
14th July - Structural engineer's report received and immediately sent to Nationwide
20th July - Nationwide finally look at it 4 working days later and send it to the surveyor for their opinion
29th July - Mortgage offer finally received for full amount requested after a lot of phone calls to the lender and the surveying company who conducted the valuation
11th August - Searches received
20th August - All paperwork signed and met with solicitor, completion date of 10th Sept suggested by solicitor, we agreed to this
23rd August - Forms sent by Moneybox to our solicitor to fill in to request the funds from our ISAs and also phoned seller's EA to ask about 10th Sept completion

Radio silence from our solicitor all week, tried to contact them a few times but no joy unfortunately, although the EA let me know the sellers are fine with 10th September completion and the most recent (hopefully final! 🤞🏻) enquiries from our solicitor have already been answered by the sellers' solicitor. 

It's a no chain purchase as we're FTBs and it's the sellers' parents' house, who have passed away, so really hoping we are not far off now as our solicitor seemed to think we were nearly there. Hopefully both solicitors can agree on the 10th... currently resisting the urge  to phone ours again!