The NEW waiting to exchange thread...

mightyblu

Finally received ATP on Help To Buy after 2 weeks of back & forth!
Hoping to start the mortgage process sometime next week 

Newdrake88

HopeAndDriftWood said:

Ahh I’m sorry @Newdrake88 - we had a similar day, exchange failed today 🙈 But all solicitors are agreed on the 11th for completion and we believe everyone has drawn down funds, so our solicitor is confident that exchange tomorrow or Thursday will be fine. 

Weirdly our buyer has emailed our estate agent and said he’ll be dropping off his furniture this weekend, which is news to us… we have nowhere to put it, at all, so that’s a bit tetchy. Hoping to get exchange sorted first! 

Best of luck for tomorrow; I’m with you on the stress levels. You’re so close to moving!!

HopeAndDriftWood said:

Ahh I’m sorry @Newdrake88 - we had a similar day, exchange failed today 🙈 But all solicitors are agreed on the 11th for completion and we believe everyone has drawn down funds, so our solicitor is confident that exchange tomorrow or Thursday will be fine. 

Weirdly our buyer has emailed our estate agent and said he’ll be dropping off his furniture this weekend, which is news to us… we have nowhere to put it, at all, so that’s a bit tetchy. Hoping to get exchange sorted first! 

Best of luck for tomorrow; I’m with you on the stress levels. You’re so close to moving!!

We have exchanged 🥳 completion tommorow! 

Any news for you?

justcat01

Woohoo! Happy to see more exchanges!

I actually re-read the email from my solicitor that I got on the 25th, and it actually says that she had sent enquiries to the sellers solicitor! So it's actually with them now. That's a total gamechanger and has prompted us to put some proper effort into packing now 

nicolanickynic

mightyblu said:

Finally received ATP on Help To Buy after 2 weeks of back & forth!
Hoping to start the mortgage process sometime next week 

Well done, hope all goes smoothly for you.

I'm nearing the end of my HTB journey. My solicitor has just requested my Authority to Exchange.

Exchange set for Nov 12th, completion Nov 26th.

Letssss gooooooo!

mightyblu

nicolanickynic said:

mightyblu said:

Finally received ATP on Help To Buy after 2 weeks of back & forth!
Hoping to start the mortgage process sometime next week 

Well done, hope all goes smoothly for you.

I'm nearing the end of my HTB journey. My solicitor has just requested my Authority to Exchange.

Exchange set for Nov 12th, completion Nov 26th.

Letssss gooooooo!

Thank you very much! My solicitor just sent me a bunch of documents to sign and an invoice of the fees I need to pay, so I guess the mortgage process begins now also

You must be so happy that you're near the end, I'm excited for you!

Moneybear

We've received an email from our solicitor today confirming the chain above us has fallen apart and the buyers are trying to find a new property. We were under the impression they were still progressing with the original property but ALSO looking for a new one. They also said we were aware but we were not. I've left a message for EA to clarify what exactly is going on. It's been 12 weeks and we have made zero progress. Our mortgage offer and searches are back. Very frustrating. The solicitor is asking whether we want to place the file on hold until the chain completes or have the enquiries answered. One of the enquiries relates to the flood report which is worrying us so I would like to know. 
Not really sure what to do. I love the house but I feel like there isn't anything positive happening. I am worried if they don't find anywhere by the end of 2021, then we won't be able to move before the mortgage offer expires end of February. 

badger09

Moneybear said:

We've received an email from our solicitor today confirming the chain above us has fallen apart and the buyers are trying to find a new property. We were under the impression they were still progressing with the original property but ALSO looking for a new one. They also said we were aware but we were not. I've left a message for EA to clarify what exactly is going on. It's been 12 weeks and we have made zero progress. Our mortgage offer and searches are back. Very frustrating. The solicitor is asking whether we want to place the file on hold until the chain completes or have the enquiries answered. One of the enquiries relates to the flood report which is worrying us so I would like to know. 
Not really sure what to do. I love the house but I feel like there isn't anything positive happening. I am worried if they don't find anywhere by the end of 2021, then we won't be able to move before the mortgage offer expires end of February. 

Its a horrible situation for you.

If the Flood Report response would mean you no longer wanted to buy that house, then I would authorise solicitor to get response to the enquiries now. At least then you would be able to decide whether to wait or pull out now. If you put everything on hold, you might waste several weeks waiting for chain to reform, only to decide you don't want the house because of the Flood Report!

I would definitely be looking for somewhere else though. 

Are you FTB? If not, what's your buyer's take on this?

Moneybear

badger09 said:

Its a horrible situation for you.

If the Flood Report response would mean you no longer wanted to buy that house, then I would authorise solicitor to get response to the enquiries now. At least then you would be able to decide whether to wait or pull out now. If you put everything on hold, you might waste several weeks waiting for chain to reform, only to decide you don't want the house because of the Flood Report!

I would definitely be looking for somewhere else though. 

Are you FTB? If not, what's your buyer's take on this?

That is true. I would like the enquiries answered as it has already been over 6 weeks since they were raised. I will let the solicitor know to proceed to prevent anymore time being wasted. 

I have started looking elsewhere too but OH is definitely suffering. Constant comparisons to where we are looking to buy now and on the market he doesn't think there is anything as nice. We are FTBs so thankfully nothing to worry about with relying on anyone below us. But we want to move and get settled in to our first home. 

Newdrake88

Evening all! Well we have completed we are in finally,  but oh my gosh what a stressful day 

3 hours I had to wait for keys! Sat outside estate agent for 2 of them 🙈

good luck to everyone still waiting hope it’s not much longer for you all 

Hebblethwaite

Congratulations to the exchangers and completers!

I've just given my broker the go-ahead to apply for a new mortgage given my current offer is set to expire in three weeks and there's still no sign of probate. My existing offer is with TSB who issued the offer really quickly back in May, but I'm going for Halifax this time. Even though I'm now going in with a 40% deposit (since I've saved more since August and there's no way I'm going to quickly find anyone to do the work the house needs), I've checked my Experian credit report hasn't had any unexpected nasties added to it, the TSB valuation/asking price/offer price/my surveyor's valuation/my estimate/Zoopla estimate were all in agreement earlier this year, the rate is a little bit better than my previous one, and I've been a long-time Halifax customer, I can't help but feel thoroughly stressed about the whole thing. What if they find something nasty on one of the other credit agency reports (they shouldn't, but mistakes do happen)? What if they downvalue it? What if they take an absolute age to come through with an offer and I end up being the delay rather than my vendor? What if the rates change before my broker can submit the full application (they seem to be shifting by the hour this past week)? ARGH!

I really thought I'd put fretting about mortgage offers behind me months ago...