The NEW waiting to exchange thread...

Newdrake88

RatInACage said:

Newdrake88 said:

Slithery said:

Newdrake88 said:

HopeAndDriftWood said:

Newdrake88 said:

Question, has anyone asked their solicitor To bypass enquiries?  My solicitor says they are pretty standard ones and couple which are more complex but will be covered with an indemnity policy (shock horror) 

I am happy to pay for the indemnity policies myself, anyone any experience of this?

We asked, but we were told a mortgage lender wouldn't agree, so it'd only be an option if we could buy in cash. 

It may well depend what the enquiries were, though. Our purchase ones have been pretty straightforward, I think there's been three. Our sale has had loads.

What sort of enquiries would a lender need answering?

Anything that would have a bearing on the value or saleability of the property. They need to know that it can be sold quickly at a decent price if they need to reposses.

Do you have any examples 😂😂

Stuff like breaches of the lease or restrictions on the title, questions about boundaries or ownership, planning permission/buildings regs issues, old charges on the property, stuff being built nearby, access issues (rights of way or being landlocked).

Some stuff can be covered by an indemnity policy, but the lender might insist on it being resolved properly.

Ah right Ok thank you that’s helpful, so does the lender receive a copy of the enquiries?

Newdrake88

RatInACage said:

Newdrake88 said:

RatInACage said:

Newdrake88 said:

Slithery said:

Newdrake88 said:

HopeAndDriftWood said:

Newdrake88 said:

Question, has anyone asked their solicitor To bypass enquiries?  My solicitor says they are pretty standard ones and couple which are more complex but will be covered with an indemnity policy (shock horror) 

I am happy to pay for the indemnity policies myself, anyone any experience of this?

We asked, but we were told a mortgage lender wouldn't agree, so it'd only be an option if we could buy in cash. 

It may well depend what the enquiries were, though. Our purchase ones have been pretty straightforward, I think there's been three. Our sale has had loads.

What sort of enquiries would a lender need answering?

Anything that would have a bearing on the value or saleability of the property. They need to know that it can be sold quickly at a decent price if they need to reposses.

Do you have any examples 😂😂

Stuff like breaches of the lease or restrictions on the title, questions about boundaries or ownership, planning permission/buildings regs issues, old charges on the property, stuff being built nearby, access issues (rights of way or being landlocked).

Some stuff can be covered by an indemnity policy, but the lender might insist on it being resolved properly.

Ah right Ok thank you that’s helpful, so does the lender receive a copy of the enquiries?

I don't know if they're copied in on letters or not, I just know the solicitor is supposed to protect the lender as well as their client, so I think that if you wanted to do something that would potentially affect the lender (like skipping enquiries), they would have to inform them. I know my Mum's lender insisted on specific structural works being carried out as soon as she completed in order to protect their investment.

Makes sense, I’ve asked my solicitor the question see what he says 

ss2020jd

tanpopo said:

We exchanged today, woo!  All set to complete just before the SDLT. This is such a relief! 

I'm making a list of the main things we need to do (apart from pack ha!). I guess set up post redirection and book in someone to connect the Wifi back up again are our main priorities

Congratulations @tanpopo 🥳 Us too! I didn’t think we would ever get here after the last week.

I’m doing the same list, although failed miserably on the first hurdle with BT who told me that the fibre broadband that was available a month ago when I enquired then was now no longer possible/available. But that’s for another thread! 

Still I’m not letting that detract from the important stuff and today’s relief! Calm before the storm… 

Kazzam1984

We exchanged today, moving on Friday, so happy !!!

WorriedKirkels

ss2020jd said:

scottie21 said:

ss2020jd said:

Congrats to those I’ve seen who have finally made progress and good luck to the rest of us for some good news today.

Our time left to exchange and meet the deadline is rapidly dwindling as I think solicitors are away in between as well. 

I’m beginning to think the stress of trying to meet the deadline is not worth the money it’s saving! Not very MSE of me I know haha, but the rush to get there at all costs is the root of all the anxiety, not to mention other’s inactivity.

As you said to me, don’t give up-at least we have tried!!

To be honest we had budgeted for SDLT, and we’re initially told by 3 separate EAs that it would be 4 months for conveyancing, so to get it done pre 30/9 would be amazing, but at this point it is a lot of stress for money we didn’t have anyway, and I’m honestly not that bothered if it’s after, I just wish they would give us a date so we can plan. It’s the not knowing that’s the hard bit. 

Fingers crossed for some news for everyone today 🤞🏼🤞🏼🤞🏼

Thank you for the renewed hope! It worked we have exchanged and completion for when we hoped for so 🤞🤞🤞  
Hope you have some progress too… now going to catch up on the rest of the thread to see if you have! 

Woo hoo - fantastic news 😁 x

WorriedKirkels

scottie21 said:

Soooo…call from solicitor today, plan is to exchange next week, complete 30/9 eeek!!! 

I’ve sorted van hire, and husband has the week off work. (I’m only working Tuesday & Wednesday).
We just need NatWest to process this mortgage application, it everything else seems lined up and good to go. I have the transfer forms etc to sign and have been given a draft completion statement, so it really does feel like we are nearly there!! 

Delighted for anyone who has had news, and have everything crossed for anyone who is waiting. 

This group has kept me sane the last few weeks. 

13 sleeps to go!! 🤞🏼🤞🏼🤞🏼

Amazing news and surprising how quickly it comes together in such a short space of time 😁 x

ss2020jd

WorriedKirkels said:

scottie21 said:

Soooo…call from solicitor today, plan is to exchange next week, complete 30/9 eeek!!! 

I’ve sorted van hire, and husband has the week off work. (I’m only working Tuesday & Wednesday).
We just need NatWest to process this mortgage application, it everything else seems lined up and good to go. I have the transfer forms etc to sign and have been given a draft completion statement, so it really does feel like we are nearly there!! 

Delighted for anyone who has had news, and have everything crossed for anyone who is waiting. 

This group has kept me sane the last few weeks. 

13 sleeps to go!! 🤞🏼🤞🏼🤞🏼

Amazing news and surprising how quickly it comes together in such a short space of time 😁 x

Fantastic news @scottie21 it sounds like you are nearly there! 

Thanks @WorriedKirkels you did say that, so true, and also that you hoped for exchange news when you popped back, so you must be a lucky omen! 🍀 Hope things are going well now you are in your new home. 

Keeping crossed for others too and thanks also to the group for keeping me semi-sane too! 

Veromartos

So this is my updated timeline 
27/7 offer accepted 
2/8 full mortgage application 
20/8 ordered searches from seller
3/9 mortgage offer 
15/9 enquires came in from buyers and still waiting from replies from seller
....I asked my solicitor for an estimate exchange date and she said she cannot tell yet

I am hoping to move by October half term.
Am I being really optimistic?

trance_abbey

Newdrake88 said:

Question, has anyone asked their solicitor To bypass enquiries?  My solicitor says they are pretty standard ones and couple which are more complex but will be covered with an indemnity policy (shock horror) 

I am happy to pay for the indemnity policies myself, anyone any experience of this?

Depending on what the enquiries are, you may not be able to bypass them as your lender may require full and complete answers before they release the mortgage funds.

I had a long chat to my solicitor about this because I'm a cash buyer and they said that while I *could* just purchase without having answers they strongly advised against it.

scottie21

Anyone else in packing hell? I never want to see another cardboard box or roll of bubble wrap again in my life. 🤪