The NEW waiting to exchange thread...

chazzab

Yay for good news for some people hang in there those that are still waiting!

We are awaiting the local searches back for our purchase and the first enquiries but my solicitor seems happy that we would be ready to exchange upwards before xmas. Now just a matter of waiting for our buyer to get a move on. To be fair to her, we only accepted her offer a week ago but we are desperately waiting to hear the valuatiin has been booked. This is where we fell down last time so praying this step gets over and one with this time.
I am away for the rest of the week as is my solicitor... wonder if I can relax knowing I can't receive post or look at my emails all day or just sit in utter panic.

Today is a new day, good luck everyone!

Littlebobo1981

Still waiting on title deeds being submitted from previous mortgage supplier, last letter from the solicitors was to say the mortgage valuation was all agreed by the bank and that was on the 30/11.....feels like our buyer is just taking forever given they had said they wanted to move quickly and be in by xmas ..perhaps they had a realisation that this was never going to happen ..who knows ?!...

Anyway congrats to all of you exchanging and completing, think it's a way off for us though

natashah1903

Our Mortgage offer was declined with Vida Home Loans yesterday because our house is worth £240K and we are paying £200K.

Surely they would jump at the chance at lending us less money.

Aliliva

chazzab wrote: »

Yay for good news for some people hang in there those that are still waiting!

We are awaiting the local searches back for our purchase and the first enquiries but my solicitor seems happy that we would be ready to exchange upwards before xmas. Now just a matter of waiting for our buyer to get a move on. To be fair to her, we only accepted her offer a week ago but we are desperately waiting to hear the valuatiin has been booked. This is where we fell down last time so praying this step gets over and one with this time.
I am away for the rest of the week as is my solicitor... wonder if I can relax knowing I can't receive post or look at my emails all day or just sit in utter panic.

Today is a new day, good luck everyone!

please, tell me you're my vendor! The timeline is suspiciously spot on :rotfl: (and if you are, just know that I'm waiting for the lender to contact me back with the valuation date)

Littlebobo1981

natashah1903 wrote: »

Our Mortgage offer was declined with Vida Home Loans yesterday because our house is worth £240K and we are paying £200K.

Surely they would jump at the chance at lending us less money.

Oh no ...that sucks

...any reason ?

SerialRenter

Been looking to buy our first home for about a year now, not been in an particular rush as we've been fine in our rental.

Found a lovely place in our favorite town, close to the center, but far enough away to avoid the noise/pubs. Offer accepted under the asking price on the first figure we gave

My timeline so far -
House put on market 24/11
Viewed house 27/11
2nd viewing 29/11
Put in offer 30/11
Offer accepted 6/12 (they were waiting to see if they got a better offer during an open house over the weekend)
Solicitors Instructed 6/12
Meeting with mortgage adviser --- (already have OIP, waiting for response)

JoJo1978

Welcome SerialRenter! : )

mailmannz

Thought we were getting close to settling on an exchange date but an issue with the houses conservatory has come up.

Our lawyers say the conservatory requires planning permission because its open plan and the wall mounted heating has been plumbed in to the central heating system for the house.

The solicitors say we have two options. The first one is to request the vendors put internal doors in (so turning the conservatory from an extension to a conservatory) but more problematic for them to get planning permission because of the heating being connected main central heating system.

The second option was to take insurance cover out that protects against the costs incurred if we have to fix everything (ie. get planning permission) as, in the solicitors opinion, the house would not be sellable without the insurance being in place for future sales.

I guess there is a third option and that would be to walk away from the sale, which we don't really want to do at this point.

Has anyone here come across an issue like this in the past? If so, how did you handle it?

Thanks in advance.

Mailman

sugar_candy_123

Well we are now on week 17, buying a new build no chain. We are waiting on the developer responding to our quieries (there were 21) they have had them for 4 weeks now. Given them a deadline date of conpletion next fri or we pull out (as mortgage offer expires). The waiting is killing us inside, fingers crossed for some good news soon. I’m hoping to exchange and complete same day, if we run out of time to be able to exchange earlier. How Lon do you need between exchange and completing if you are getting a mortgage? Does it take time for solicitor to request mortgage funds?
Good luck to everyone else.

sugar_candy_123

Hi mailmannz, we sold our house back in August and had a similar problem where we didn’t have evidence of permissions for 2 things. The buyers said they would continue with purchase if we provided an indemnity insurance policy for each issue, which we did. Each policy cost us approx £150. Speak to your solicitor and request the seller provides an indemnity policy, then you can sort out the issue at a later date.