The NEW waiting to exchange thread...

hpsauce86

Lessien said:

Exchange is planned for today, fingers crossed it all goes to plan! 🤞

Good luck to everyone else waiting for updates today

Exciting! Hope it all goes ahead smoothly! 

KLG1979

Lessien said:

Exchange is planned for today, fingers crossed it all goes to plan! 🤞

Good luck to everyone else waiting for updates today

How exciting! Fingers crossed for you!

salduck

Homebuyers report received today, fixtures and fittings yesterday- Searches ongoing, Solicitor seems on t with queries and just awaiting the mortgage offer following valuation done yesterday too  
Fingers and toes are crossed for everything continuing to move at this pace! Any ideas on timescales from here? 
S

NicolaFranks

MickeyFTB said:

NicolaFranks said:

hpsauce86 said:

NicolaFranks said:

Down to the final stages……solicitor told us Friday that we are unlikely to exchange / complete by 24th (next Tuesday) when our mortgage offer runs out!  Today our mortgage broker told us HSBC do not tend to extend mortgages and we would have to do a new application.  The rate we have from November is 1.4% and the rate now is 2.something which means circa £180 extra per month 

solicitor had told us that the “final documents” we being sent out to us to arrive tomorrow (our buyer has had there’s not sure if they have further up the chain) 

is it feasible to exchange / complete by next Tuesday or should be just pull out now ?

You might manage it. I don’t see why you’d pull out after waiting since November! Can you afford the extra £180 a month on the mortgage? 

Keep sticking with it and see if you can get it across the line by the 24th, let your solicitor know your concerns one more time, as well as the estate agent. I’m sure they will do their best to meet the date you need, if not then back out (and waste the costs you’ve already spent), or speak to your broker and get a new mortgage at a slightly higher rate (still a very decent rate!) 

good luck! 

We can afford it….but if anything we’re to happen to my husband then I wouldn’t be able to cover it on my own 

Our current mortgage v new mortgage is £300 more per month so with the extra £180 makes our outgoings £500 more per month….

The rate we had in Nov was 1.4 % there isn’t anything close to this…..so it looks likely we will be pulling out

Before pulling out definitely have a conversation with HSBC first on extending - we’re with a different provider and our mortgage offer has gone to expire 3 time but they’ve extended as they recognised the issue in the chain was at no fault of ours. Somehow our mortgage broker managed a three month extension on the last one! 

HSBC apparently have a policy that they don’t extend…..I checked this forum and there was posts about plus it’s on their website.  However today we have a significant update…..most probably with the threat of pulling out and my husband pretty much speaking to everyone in the chain…..our documents came today, courier booked to get them back to our solicitors for the morning……kicks up solicitors bums to talk to each other…..we are about 80% there !  Pray for us……it’s gonna be a tough day 🤞🏻

Lessien

NicolaFranks said:

MickeyFTB said:

NicolaFranks said:

hpsauce86 said:

NicolaFranks said:

Down to the final stages……solicitor told us Friday that we are unlikely to exchange / complete by 24th (next Tuesday) when our mortgage offer runs out!  Today our mortgage broker told us HSBC do not tend to extend mortgages and we would have to do a new application.  The rate we have from November is 1.4% and the rate now is 2.something which means circa £180 extra per month 

solicitor had told us that the “final documents” we being sent out to us to arrive tomorrow (our buyer has had there’s not sure if they have further up the chain) 

is it feasible to exchange / complete by next Tuesday or should be just pull out now ?

You might manage it. I don’t see why you’d pull out after waiting since November! Can you afford the extra £180 a month on the mortgage? 

Keep sticking with it and see if you can get it across the line by the 24th, let your solicitor know your concerns one more time, as well as the estate agent. I’m sure they will do their best to meet the date you need, if not then back out (and waste the costs you’ve already spent), or speak to your broker and get a new mortgage at a slightly higher rate (still a very decent rate!) 

good luck! 

We can afford it….but if anything we’re to happen to my husband then I wouldn’t be able to cover it on my own 

Our current mortgage v new mortgage is £300 more per month so with the extra £180 makes our outgoings £500 more per month….

The rate we had in Nov was 1.4 % there isn’t anything close to this…..so it looks likely we will be pulling out

Before pulling out definitely have a conversation with HSBC first on extending - we’re with a different provider and our mortgage offer has gone to expire 3 time but they’ve extended as they recognised the issue in the chain was at no fault of ours. Somehow our mortgage broker managed a three month extension on the last one! 

HSBC apparently have a policy that they don’t extend…..I checked this forum and there was posts about plus it’s on their website.  However today we have a significant update…..most probably with the threat of pulling out and my husband pretty much speaking to everyone in the chain…..our documents came today, courier booked to get them back to our solicitors for the morning……kicks up solicitors bums to talk to each other…..we are about 80% there !  Pray for us……it’s gonna be a tough day 🤞🏻

That sounds so stressful! I hope you manage to get it over the line in time!

We have exchanged 🙂 It all feels a bit anticlimactic at the moment but I am impatient to get packing already! 

hpsauce86

Lessien said:

NicolaFranks said:

MickeyFTB said:

NicolaFranks said:

hpsauce86 said:

NicolaFranks said:

Down to the final stages……solicitor told us Friday that we are unlikely to exchange / complete by 24th (next Tuesday) when our mortgage offer runs out!  Today our mortgage broker told us HSBC do not tend to extend mortgages and we would have to do a new application.  The rate we have from November is 1.4% and the rate now is 2.something which means circa £180 extra per month 

solicitor had told us that the “final documents” we being sent out to us to arrive tomorrow (our buyer has had there’s not sure if they have further up the chain) 

is it feasible to exchange / complete by next Tuesday or should be just pull out now ?

You might manage it. I don’t see why you’d pull out after waiting since November! Can you afford the extra £180 a month on the mortgage? 

Keep sticking with it and see if you can get it across the line by the 24th, let your solicitor know your concerns one more time, as well as the estate agent. I’m sure they will do their best to meet the date you need, if not then back out (and waste the costs you’ve already spent), or speak to your broker and get a new mortgage at a slightly higher rate (still a very decent rate!) 

good luck! 

We can afford it….but if anything we’re to happen to my husband then I wouldn’t be able to cover it on my own 

Our current mortgage v new mortgage is £300 more per month so with the extra £180 makes our outgoings £500 more per month….

The rate we had in Nov was 1.4 % there isn’t anything close to this…..so it looks likely we will be pulling out

Before pulling out definitely have a conversation with HSBC first on extending - we’re with a different provider and our mortgage offer has gone to expire 3 time but they’ve extended as they recognised the issue in the chain was at no fault of ours. Somehow our mortgage broker managed a three month extension on the last one! 

HSBC apparently have a policy that they don’t extend…..I checked this forum and there was posts about plus it’s on their website.  However today we have a significant update…..most probably with the threat of pulling out and my husband pretty much speaking to everyone in the chain…..our documents came today, courier booked to get them back to our solicitors for the morning……kicks up solicitors bums to talk to each other…..we are about 80% there !  Pray for us……it’s gonna be a tough day 🤞🏻

That sounds so stressful! I hope you manage to get it over the line in time!

We have exchanged 🙂 It all feels a bit anticlimactic at the moment but I am impatient to get packing already! 

Go round and measure up! Get excited! Pack and declutter! When’s the completion date? Hopefully you’ll be in for more sun and can enjoy your new home soon! 

elouber

Hi,

Offer accepted after almost two years of looking and offering just over two weeks ago!

I’m an FTB, living at home, so have that on my side in terms of being able to wait, and my sellers have also had an offer accepted, but their sellers have not found anywhere yet.

Mortgage approved today too - phew!

Obviously, being just over two weeks in I know it’s early days but I’ve fallen in love with this house and I’m slightly starting to panic that this May all fall through soon if the top of the chain doesn’t find somewhere.

Also, massive learning curve, I’ve already paid out for a Level 3 Survey which happened earlier this week (older property so wanted a full report) and my solicitors have already applied for searches - didn’t know Homebuyers Insurance was even a thing and now too late to apply as already started and paid for certain things.

Mortgage offer is now valid for 6 months with a possible 1 month extension at the end (NatWest) but panicking already that offer will run out before completion and by then the rates are going to have doubled (or worse)

Any advice, any words of encouragement, is there anything I can do to at least make sure my sellers don’t drop me - I’ve spent so long trying to get to this stage!

hpsauce86

elouber said:

Hi,

Offer accepted after almost two years of looking and offering just over two weeks ago!

I’m an FTB, living at home, so have that on my side in terms of being able to wait, and my sellers have also had an offer accepted, but their sellers have not found anywhere yet.

Mortgage approved today too - phew!

Obviously, being just over two weeks in I know it’s early days but I’ve fallen in love with this house and I’m slightly starting to panic that this May all fall through soon if the top of the chain doesn’t find somewhere.

Also, massive learning curve, I’ve already paid out for a Level 3 Survey which happened earlier this week (older property so wanted a full report) and my solicitors have already applied for searches - didn’t know Homebuyers Insurance was even a thing and now too late to apply as already started and paid for certain things.

Mortgage offer is now valid for 6 months with a possible 1 month extension at the end (NatWest) but panicking already that offer will run out before completion and by then the rates are going to have doubled (or worse)

Any advice, any words of encouragement, is there anything I can do to at least make sure my sellers don’t drop me - I’ve spent so long trying to get to this stage!

Ah bless you, we’re in kind of the same boat (though we’re almost at exchange now).
Don’t have much to suggest, keep it touch with the sales progression team at the estate agents, ask for weekly updates etc. Hopefully the top of the chain find somewhere soon. I’m sure your vendors will put some pressure on too. There’s always a chance they could move in to rented to save the chain, though I don’t think many people do, but you might be lucky. 

Hope you get the dream house, sounds like you’ve done everything your side quickly so unfortunately it’s just going to be a waiting game, we’ve been waiting to exchange for a couple of months now and it’s a killer when you’re desperate to have your first house, and also can’t buy anything for it or really plan anything! 

Fingers crossed it all works out for you. 😊

mpa91

Durban said:

To be honest , I can’t see what raising a complaint would really achieve. It won’t make it go any quicker unfortunately. 

Hopefully other enquires will be raised from searches etc whilst waiting for the management pack. 

I did say to my solicitor that if the management company were slow in their responses to let me know and I would chase them up myself. This actually worked well. 

Good luck. 

True, and I'm always cautious of turning people against you by constantly hassling/raising concerns, but I do resent that we have now paid more for an expedited service when we could have saved some money if the request had been made earlier in the process. 

Our solicitors continue to frustrate me this week, it takes days for them to respond to simple emails (if they respond at all!). Conscious they likely have a large caseload but it is surely not difficult to show some courtesy and acknowledge emails/provide updates rather than being hassled by us/EA/developer. Driving me mad!

dancingqueenielink

Afternoon all, 
so this is where I'm at so far- 

Offer accepted on a house                                    24/03
Offer accepted on our house                                  2/04
We were gazumped                                              14/04
Offer accepted in person on a second house       20/04
Mortgage application submitted                            20/04 
Instructed solicitors                                               20/04
Buyers survey done on our house                        16/05
Mortgage offer back                                            19/05
Enquiries raised on a few things by our solicitors 19/05
Contracts sent out to our buyers                           19/05

We exchanged names and numbers with our buyers and the people we're buying from. We've been in contact with both throughout this to try and speed things up. TBH our solicitors seem to be on the ball with everything and we've got a bit of a complicated buying selling process as I am selling my ex marital home which is in mine and my exs name. And buying a home with my new partner. So i've had to jump through all sorts of hoops getting permissions from ex for me to go ahead and sell (he doesn't have a problem with this but we are opposite ends of the country so a bit of a pain!). I'm hoping it is only another month or so to exchange...i'm not sure what else it to be done aside from the valuation from our mortgage company and searches etc on the solicitors end.

My buyers are cash buyers. And the couple selling to us are buying cash so there is no chain really aside from us three transactions. Anyone have any idea how long it could take to get to exchange from here? I don't really know what else we're waiting on tbh...i might go back and actually read the pack the solicitors gave us to let us know of the process  

Congrats to all who've exchanged since I was last on...I hope we're not too far behind you!