The NEW waiting to exchange thread...

HopeAndDriftWood

neydejean said:

At 12:19 today I got a call asking for verbal authority to exchange today. At 14:59 I got the call to say we've officially exchanged with plan to complete Friday.

Getting to this point has taken nearly 23 weeks for no good reason but the end really is in sight now

Ah congratulations! That's amazing news. 

Our new solicitor is sending us on endless goose chases. We've been frantically trying to contact our lender to get a missing valuation document all day... our mortgage advisor has just basically cried laughing at me, they don't provide copies of desktop valuations to solicitors. Told our solicitor, who said they just wanted to check. 

No news on whether they've responded to the enquiries raised on Monday. Or if our buyer's mortgage is back, EA has been very quiet. 

WorriedKirkels

Anyone know how long it takes to sort a Help to Buy ISA? No exchange again today as apparently our buyers buyer hasn’t sorted this out as they didn’t know they had too! Surely their solicitor should have discussed this with them before now? The solicitor has not answered anyone’s calls all day and even the buyer isn’t sure if the funds have been requested or not. I am passed stressed and anxious….I think I’m at the point of actually giving up 😖 😢 🤯

nekr0mantik

WorriedKirkels said:

Anyone know how long it takes to sort a Help to Buy ISA? No exchange again today as apparently our buyers buyer hasn’t sorted this out as they didn’t know they had too! Surely their solicitor should have discussed this with them before now? The solicitor has not answered anyone’s calls all day and even the buyer isn’t sure if the funds have been requested or not. I am passed stressed and anxious….I think I’m at the point of actually giving up 😖 😢 🤯

Oh no! Dont give up now. You got this far.
Maybe bug the EA

E_D_FTB

WorriedKirkels said:

Anyone know how long it takes to sort a Help to Buy ISA? No exchange again today as apparently our buyers buyer hasn’t sorted this out as they didn’t know they had too! Surely their solicitor should have discussed this with them before now? The solicitor has not answered anyone’s calls all day and even the buyer isn’t sure if the funds have been requested or not. I am passed stressed and anxious….I think I’m at the point of actually giving up 😖 😢 🤯

Oh no, don't give up! I'm not sure how long the HTB process takes, as we're not claiming the bonus on ours, but our solicitor did ask us about it today, so I'm surprised they haven't been told about it until now. Fingers crossed for you!

esubbs

neydejean said:

At 12:19 today I got a call asking for verbal authority to exchange today. At 14:59 I got the call to say we've officially exchanged with plan to complete Friday.

Getting to this point has taken nearly 23 weeks for no good reason but the end really is in sight now

Amazing, congratulations! Must be such a relief. Or at least it will be come Friday evening 😁

mortgage_noob

WorriedKirkels said:

Anyone know how long it takes to sort a Help to Buy ISA? No exchange again today as apparently our buyers buyer hasn’t sorted this out as they didn’t know they had too! Surely their solicitor should have discussed this with them before now? The solicitor has not answered anyone’s calls all day and even the buyer isn’t sure if the funds have been requested or not. I am passed stressed and anxious….I think I’m at the point of actually giving up 😖 😢 🤯

To get the HTB you need to close your ISA account and receive a statement from the bank (for nationwide this took about 4 days to arrive in the post).

Once done the solicitor has to apply for the statement using the ISA Portal, according to the portal it can take up to 5 working days for the funds to arrive. 

FYI - I let my solicitor know that I was using a HTB ISA from the outset and shared my statement with her way in advance and she has only today applied for the ISA on the portal. (she's been totally incompetent)

We are due to complete on Friday. The HTB bonus was already deducted from our completion statement despite the funds not having arrived and our bonus is very small, so any deficit that may occur as a result of the money not arriving can be covered by the legal fees we have already paid for. Technically, I believe this isn't how it's supposed to work as the funds are supposed to be specifically used for completion. 

Anyway, hopefully the FTBs have already closed their account as the solicitor step doesn't seem to have taken very long.

heartofzinc

neydejean said:

At 12:19 today I got a call asking for verbal authority to exchange today. At 14:59 I got the call to say we've officially exchanged with plan to complete Friday.

Getting to this point has taken nearly 23 weeks for no good reason but the end really is in sight now

Congrats! Similar timeline to me. Finally exchanged now ready for completion Friday yay 

codingtutor

Congratulations to those who have completed, and hang in there to those who are waiting. 

Like many, I'm feeling anxious and dismayed at waiting for exchange. THere is no chain on the house I am purchasing and I updates from solicitors and estate agents are difficult to come by. 

13/06/21 - DiP from HSBC on 5% deposit mortgage, FTB
15/06/21 - Viewed house (listed at over 240,000)
15/06/21 - Offer submitted, Rejected, Offer increase, Offer Accepted.
17/06/21 - Mortgage Appointment, Mortgage Approved subject to valuation
24/06/21 - Surveyor Valuation
28/06/21 - Confirmation from Lender that Surveyor Valuation downvalued the property
28/06/21 - Reduced offer, Offer rejected, Initial offer reinstated. 
06/07/21 - Memorandum of sale received 
28/07/21 - Draft Contract Received
28/07/21 - Searches started
03/08/21 - Coal Mining Report received - 2 coal mine shafts within 20m of the property. Conveyancer orders Mine Entry Interpretive Report.
23/08/21 - Lender approves Mine Entry Interpretive Report, valuation remains unaffected.
31/08/21 - Pre-contractual enquiries sent to sent to Seller's solicitors

HopeAndDriftWood

WorriedKirkels said:

Anyone know how long it takes to sort a Help to Buy ISA? No exchange again today as apparently our buyers buyer hasn’t sorted this out as they didn’t know they had too! Surely their solicitor should have discussed this with them before now? The solicitor has not answered anyone’s calls all day and even the buyer isn’t sure if the funds have been requested or not. I am passed stressed and anxious….I think I’m at the point of actually giving up 😖 😢 🤯

Oh no! I have no idea how long it takes, but I'm sorry there's another delay, and I'd second *Nektr9mantik*, keep pushing. You're going to get there! 

Nothing else from our solicitor today either, just an email that they've rechecked the whole purchase as they want us to be sure before we exchange. 

Bookgal88

I've been silently lurking on this thread for weeks, but I feel like I might maybe, hopefully, fingers crossed be ready to join in. Congrats to all those that have made it to exchange and/or completion in the last few days, and good luck to those that are hoping it happens this week. 

I've had an offer accepted, full mortgage offer has been issued (and I've signed and returned the mortgage deed), all searches have been ordered and returned (I believe), and all enquiries have been raised and satisfied (I believe). My conveyancer advised that she's waiting for the vendor's conveyancer to approve the transfer document, and I chased this via the EA at the end of last week, so I'm hoping that this has been approved now too. 

I've already completed on my sale, and the property I'm purchasing is vacant. There's no chain above my vendor, as it's an elderly lady that's already moved in with family AFAIK. I'm a second time purchaser, but I honestly can't remember much of the process from my first purchase (probably blocked it out!). Does it sound like we might be in a position to start discussing exchange and completion dates if the transfer doc has been approved? I can't think of anything else that needs doing, but I don't want to get my hopes up!