The NEW waiting to exchange thread...

toniq

We are just waiting for an indemnity to come through then can exchange, hoping in the next few days, ours purchase has dragged on since April 12th.
I won’t believe it till it happens though.

Smith6789

Smith6789 said:

Hi all! Been following so thought I would chip in as we are getting increasingly inpatient and just wanted to move in 😂

We are FTB, living in a rented flat surrounded by booming house music and screaming most nights, originally due to move out around April/May but sale fell through. Timeline below...

15/01 - Offer accepted
15/01 - Solicitors instructed
21/01 - 1st meeting with mortgage broker
20/01 - Mortgage application submitted
05/02 - Title received and searches sent
15/02 - Enquiries sent to sellers solicitors
01/03 - Mortgage offer received
06/04 - Enquiry responses received and accepted
12/04 - Draft contract received from sellers & signed
14/04 - Agreed 27/04 exchange & completion date with seller
16/04 - Funds transferred
27/04 - Seller ghosted SOL and EA, no exchange
30/04 - Seller agreed to 10/05 new exchange and completion date
10/05 - Seller ghosts SOL and EA, no exchange
17/05 - Chain fell through, pulled out of purchase
15/06 - Offer accepted on new property
15/06 - New solictors instructed
16/06 - Mortgage application submitted (not through broker)
28/06 - Property searches sent
29/06 - New mortgage approved
02/07 - New mortgage offer received
10/07 - Local authority searches received
04/08 - Draft contract and search result received
05/08 - Enquiries raised 

Now just waiting for responses to enquiries. Originally were told the sellers were keen to move in Summer hols resulting in us trying to act as quick as possible but we haven't heard back from them nearly 4 weeks now. We have chased multiple times. It's very hard to not be scared of everything going wrong again!

Anyway, good luck to everyone else hopefully lots of good news is coming for everyone 🤞🤞🤞🤞🤞🤞🤞

Small update here. We had majority of enquiry responses back on 2nd September, however still waiting for some outstanding enquiries which we are so so so hoping come back this week with no issues! Chased EA who said sellers solicitor should be sending this week...

If this happens we can talk about a completion date, but things just seem to take soooo long. A few weeks for something to be sent, then a week to receive, then a week to look through, then a week to reply etc etc. Before you know it months have gone by with no progress. 

However only 14 weeks into our second purchase so I guess its not too long. Just feels like longer as it's been 37 weeks since we originally started this process. Trying to keep the faith without being too paranoid that it will fall through like last time 🤞🤞🤞 

Kazzam1984

Smith6789 said:

Smith6789 said:

Hi all! Been following so thought I would chip in as we are getting increasingly inpatient and just wanted to move in 😂

We are FTB, living in a rented flat surrounded by booming house music and screaming most nights, originally due to move out around April/May but sale fell through. Timeline below...

15/01 - Offer accepted
15/01 - Solicitors instructed
21/01 - 1st meeting with mortgage broker
20/01 - Mortgage application submitted
05/02 - Title received and searches sent
15/02 - Enquiries sent to sellers solicitors
01/03 - Mortgage offer received
06/04 - Enquiry responses received and accepted
12/04 - Draft contract received from sellers & signed
14/04 - Agreed 27/04 exchange & completion date with seller
16/04 - Funds transferred
27/04 - Seller ghosted SOL and EA, no exchange
30/04 - Seller agreed to 10/05 new exchange and completion date
10/05 - Seller ghosts SOL and EA, no exchange
17/05 - Chain fell through, pulled out of purchase
15/06 - Offer accepted on new property
15/06 - New solictors instructed
16/06 - Mortgage application submitted (not through broker)
28/06 - Property searches sent
29/06 - New mortgage approved
02/07 - New mortgage offer received
10/07 - Local authority searches received
04/08 - Draft contract and search result received
05/08 - Enquiries raised 

Now just waiting for responses to enquiries. Originally were told the sellers were keen to move in Summer hols resulting in us trying to act as quick as possible but we haven't heard back from them nearly 4 weeks now. We have chased multiple times. It's very hard to not be scared of everything going wrong again!

Anyway, good luck to everyone else hopefully lots of good news is coming for everyone 🤞🤞🤞🤞🤞🤞🤞

Small update here. We had majority of enquiry responses back on 2nd September, however still waiting for some outstanding enquiries which we are so so so hoping come back this week with no issues! Chased EA who said sellers solicitor should be sending this week...

If this happens we can talk about a completion date, but things just seem to take soooo long. A few weeks for something to be sent, then a week to receive, then a week to look through, then a week to reply etc etc. Before you know it months have gone by with no progress. 

However only 14 weeks into our second purchase so I guess its not too long. Just feels like longer as it's been 37 weeks since we originally started this process. Trying to keep the faith without being too paranoid that it will fall through like last time 🤞🤞🤞 

We are the same its do stressful. Our first house fell through in June at exchange of contracts  as people up the chain pulled out, then our buyers . So now with 2nd house we have been stressed and in some kind of state similar to ptsd around exchange/ completion happening . I will be so relieved once we have exchanged.  Solicitor said they are 'aiming' for exchange tomorrow and completion on 24th . Good luck 

Bookgal88

Newdrake88 said:

Bookgal88 said:

After 4 days of chasing, my vendor's conveyancer is finally replying to our queries after sitting on the responses for the last month. I've calculated that to complete on the 30th, funds would need to be requested by next Thursday at the absolute latest. So panicked that I'm now going to miss out on the remaining stamp duty relief due to her incompetence. It just doesn't feel like enough time, but I'm trying to remain positive. 

My mortgage advisor at my lender says that they only need 24 hours notice for funds so check with your lender 

I mean, that would be incredible. Do you mind me asking who your lender is? *please say Nationwide, please say Nationwide*

Newdrake88

Bookgal88 said:

Newdrake88 said:

Bookgal88 said:

After 4 days of chasing, my vendor's conveyancer is finally replying to our queries after sitting on the responses for the last month. I've calculated that to complete on the 30th, funds would need to be requested by next Thursday at the absolute latest. So panicked that I'm now going to miss out on the remaining stamp duty relief due to her incompetence. It just doesn't feel like enough time, but I'm trying to remain positive. 

My mortgage advisor at my lender says that they only need 24 hours notice for funds so check with your lender 

I mean, that would be incredible. Do you mind me asking who your lender is? *please say Nationwide, please say Nationwide*

Sorry no it’s Clydesdale/Virgin money - I can’t see why one lender would take 24 hours and another 5 days though,  I would ask them just to put your mind at rest 

Bookgal88

I got the 5 days info from here: https://www.nationwide.co.uk/about-us/information-for-lawyers/cot-and-release-of-funds/, but it also mentions being able to release them with 48 hours notice for a fee. 

Newdrake88

Bookgal88 said:

I got the 5 days info from here: https://www.nationwide.co.uk/about-us/information-for-lawyers/cot-and-release-of-funds/, but it also mentions being able to release them with 48 hours notice for a fee. 

What a surprise, if you pay a fee they can do it quicker 😂

fingers crossed for you 

I am waiting for replies to enquiries but I’ve told my solicitor in no uncertain terms it needs to be done for the 30th 😂 to be fair he is very efficient so I have faith 

Smith6789

Kazzam1984 said:

Small update here. We had majority of enquiry responses back on 2nd September, however still waiting for some outstanding enquiries which we are so so so hoping come back this week with no issues! Chased EA who said sellers solicitor should be sending this week...

If this happens we can talk about a completion date, but things just seem to take soooo long. A few weeks for something to be sent, then a week to receive, then a week to look through, then a week to reply etc etc. Before you know it months have gone by with no progress. 

However only 14 weeks into our second purchase so I guess its not too long. Just feels like longer as it's been 37 weeks since we originally started this process. Trying to keep the faith without being too paranoid that it will fall through like last time 🤞🤞🤞 

We are the same its do stressful. Our first house fell through in June at exchange of contracts  as people up the chain pulled out, then our buyers . So now with 2nd house we have been stressed and in some kind of state similar to ptsd around exchange/ completion happening . I will be so relieved once we have exchanged.  Solicitor said they are 'aiming' for exchange tomorrow and completion on 24th . Good luck 

Good luck to you too, I'll keep my fingers crossed for you!!!! keep us updated.

Bookgal88

Newdrake88 said:

Bookgal88 said:

I got the 5 days info from here: https://www.nationwide.co.uk/about-us/information-for-lawyers/cot-and-release-of-funds/, but it also mentions being able to release them with 48 hours notice for a fee. 

What a surprise, if you pay a fee they can do it quicker 😂

fingers crossed for you 

I am waiting for replies to enquiries but I’ve told my solicitor in no uncertain terms it needs to be done for the 30th 😂 to be fair he is very efficient so I have faith 

Ain't that the truth!

Good luck to you too. Hopefully we'll both be back on here on the 1st cheersing in our new places. Just unfortunate that there's going to be a lot of squeaky bum time between now and then!

HopeAndDriftWood

A BTL landlord who owns one of the flats in the building is interested in buying ours. 

We've had no update from the chain on what they'll do now, or our buyer on timescales, or even if the repeat valuation is booked in again.

They'd need a mortgage, so I'm guessing it wouldn't happen inside September, but we could at least see if the rest of the chain would stay together... 

I'm so torn on what to do.