The NEW waiting to exchange thread...

Snookie12cat

Lwizzle said:

@Snookie12cat oh no what happened?

It's the most stressful thing isn't it, never buying a house again haha

@Lwizzle

On exchange and completion the seller solicitor changed answers to one of the enquiries... Whole thing fell to pieces and now we are no further along. Solicitors can't agree on next steps so we are just in limbo. Very frustrating. 

Ha ha agree with you 100%. 

metalloz

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

TXC

metalloz said:

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

Oh my days I am so sorry! That sounds horrendous. Would the vendors be willing to go into rented? 

Nicbetty

metalloz said:

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

Sending much love x

Kyrae

metalloz said:

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

Big hugs! The housing legal system here really is ridiculous, it just offers so little protection

[Deleted User]

@metalloz that is terrible bad luck, we have just been through this as a seller. Buyer pulled the plug a day before proposed exchange .. I understand the financial loss too 
Had another buyer next day so it can turn itself around although this time we aren't buying so just buyer & ourselves... no guarantee but it  makes the chain a lot easier 

faylou

metalloz said:

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

I’m so sorry . It’s all so stressful . Is the top of the chain truly gone ?

KeepOnKnitting

indigomoon18 said:

Looking for any advice (or just a bit of sympathy! ) 

We accepted an offer on our house in November. We're buying a house with no onward chain. We've been ready to exchange for three weeks now but our buyers solicitor is just messing everyone around, they either don't respond to phone calls or emails from my solicitor or have told the buyer a load of rubbish about just getting more enquiries back (my solicitor sent them three weeks ago.)

My buyer is a FTB and I've told my EA he needs to call her and really guide her/ tell her that she needs to be on her solicitor everyday until they get this done. Oh I've also googled her solicitor and they have shocking reviews and everyone saying they just don't respond. But is there anything else I can do?! I feel like I'm chasing my solicitor and AE daily but making no progress. Was meant to be a really simple chain. So stressful! 

Oh man @indigomoon18 I could have written this! I've been ready to exchange on my new place for weeks, but my buyer is just messing about. Currently waiting for their mortgage company to agree ?something? 

No words of advice, only complete sympathy and understanding.

metalloz

TXC said:

metalloz said:

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

Oh my days I am so sorry! That sounds horrendous. Would the vendors be willing to go into rented? 

They said they won't They are going to look for another place but would need to find something pretty much straight away and complete in 3 months.

My mortgage broker said I would be able to extend the mortgage beyond 3 months but at the much higher interest rate, which I couldn't justify paying on a property of this value ( I was going to lock in a low rate for 5 years then pay a lump sum at the end of 5 years to remortgage in 60% LTV bracket). It's basically ruined my chance of buying a house in London.

metalloz

faylou said:

metalloz said:

I was meant to exchange today but the top of the chain collapsed after 4.5 months. My vendor now needs to find a new property and my  mortgage expires in three months. This is the second property purchase to collapse after looking for 1 year and now being down £4k in costs. Not sure how much more of this I can take.   

I’m so sorry . It’s all so stressful . Is the top of the chain truly gone ?

I've been told along the process he has been very difficult. He has basically said he can't decide right now when he wants to exchange and complete (he kept changing his mind and making excuses over the past 2 weeks), so I think my vendor has lost faith (don't blame him).