The NEW waiting to exchange thread...

Hebblethwaite

Probate may be back!!!

The probate website has a new listing for someone with my vendor's husband's name. It's a fairly common name, so it's not a definite thing but I think it's likely.

Ack, this means I may have made a mistake by applying for a new mortgage as that could slow things down. I've already paid for the valuation though, and it's a slightly better rate, and I'm throwing a bigger deposit into the mix, so I don't really want to stick with the original mortgage offer anymore... Why does it have to be so complicated?!

novelle

@justcat01 Great news! Keep us updated.

@bhhm3 wow 10 weeks and still haven't got the contract pack?! That's a long time. Perhaps you can sternly tell the EA to chase the other side?

Jedi_knight

I have been lurking on this thread for a while as we are in a long purchase process at the moment. 

We had an offer accepted in March this year. The chain was complete in early September and there are 5 houses in the chain. We're at the bottom of the chain.

While our transaction has progressed relatively smoothly, it's been very difficult to get information about the progress of the other transactions in the chain. In particular, there is a transaction in the middle of the chain where the offer was accepted in late July, but it appears that the buyer has just had their mortgage offer accepted and has not yet decided whether or not they wish to do a survey. This seems like slow progress to us and we understand that this buyer is particularly slow to take action.

We're in the dark about the remainder of the chain transactions - not sure if they're 20% or 90% of the way done.

We ask the estate agent dealing with our transaction for updates periodically. However, updates are slow in coming and are very light on detail. We appreciate that the estate agent we are dealing with is just passing on information from the agents further up the chain and so isn't in control of the level of information provided (though is, of course, in control of the level of probing they do to get detailed information).

The view of the agent we're dealing with is very much that we aren't in a position to press things forward and that we just need to let things run their course, and we'll get to exchange and completion in due course (or not at all, I suppose).

Does anybody have any advice on any steps someone in our position might take to help move the process forward?

Doodle01

Been lurking on this thread since early September when we went sale agreed our purchase. We have had a buyer in place (FTB currently living with parents) since the end of July but due to the housing market craziness only found somewhere to buy in September.

All was moving swimmingly until around two weeks ago when we were close to setting a date and suddenly the top of the chain fell through. As a result we lost our onward purchase. We got fortunate and found an alternative chain free onward purchase which we went sale agreed on last week.

Our buyer is now growing extremely restless as their mortgage offer expires mid January and the pressure is on!

I hold little hope that we will complete before his offer expires as Christmas falls in the middle

Does anyone have any experience with requesting mortgage offer extensions? - our buyers lender (Santander) won't let him apply until closer to expiry and we are anxious that they may reject his request as his job contract changed to a slightly lower income since he applied

 - super stressed!!!

[Deleted User]

We have exchanged!!!!
our old house completes its sale tomorrow
and the new house is most likely January as it’s a new build
that has taken from July to now 
omg I’m crying 

esubbs

@DeletedUser that's great news. I have a feeling I'll be the same when we finally complete on our sale after eight long months. Even more so once we actually find an onward purchase! 

nicolanickynic

DeletedUser said:

We have exchanged!!!!
our old house completes its sale tomorrow
and the new house is most likely January as it’s a new build
that has taken from July to now 
omg I’m crying 

yaassssssss❤️

HopeAndDriftWood

Congratulations @DeletedUser!!! 

@Doodle01 mortgage extensions seem a weird thing at the moment - but I’m 90% sure he won’t be able to extend if his income has changed, he’d need to declare that everything was the same. Or at least we did, when we did it last month. 

We were told that mortgage extensions were no longer being offered due to rate changes by two people in our chain in the last two weeks, but I’m not sure if that’s a specific bank or even a real thing, if I’m honest… 

Has he said if his new income is still within Santander’s affordability guidelines? 

I hope it’s fixable for you! 

We complete tomorrow. I didn’t think we’d get here; to be honest. I can’t quite believe it. 

Doodle01

HopeAndDriftWood said:

Congratulations @DeletedUser!!! 

@Doodle01 mortgage extensions seem a weird thing at the moment - but I’m 90% sure he won’t be able to extend if his income has changed, he’d need to declare that everything was the same. Or at least we did, when we did it last month. 

We were told that mortgage extensions were no longer being offered due to rate changes by two people in our chain in the last two weeks, but I’m not sure if that’s a specific bank or even a real thing, if I’m honest… 

Has he said if his new income is still within Santander’s affordability guidelines? 

I hope it’s fixable for you! 

We complete tomorrow. I didn’t think we’d get here; to be honest. I can’t quite believe it. 

Thanks for the information @HopeAndDriftWood .

The bank just said to come back closer to the time for the extension, I always thought that you picked a new product if you have to extend the offer but again that probably is dependent on the lender.

He should still be within the wage bracket required for the loan he is taking but I get the feeling he doesn't want to declare anything incase they reject him. Though he banks with them so they will see the ins and outs anyway? so it doesn't make much sense to me. Makes me very nervous.

Congratulations on completing tomorrow!! A huge relief I am sure ☺️

Newdrake88

HopeAndDriftWood said:

Congratulations @DeletedUser!!! 

@Doodle01 mortgage extensions seem a weird thing at the moment - but I’m 90% sure he won’t be able to extend if his income has changed, he’d need to declare that everything was the same. Or at least we did, when we did it last month. 

We were told that mortgage extensions were no longer being offered due to rate changes by two people in our chain in the last two weeks, but I’m not sure if that’s a specific bank or even a real thing, if I’m honest… 

Has he said if his new income is still within Santander’s affordability guidelines? 

I hope it’s fixable for you! 

We complete tomorrow. I didn’t think we’d get here; to be honest. I can’t quite believe it. 

I have been waiting for your update! Good luck with the move, we are more or less unpacked and settled now 

moving day was a bloody nightmare 3 hours sat in a van waiting for keys 😂 was worth it though