The NEW waiting to exchange thread...

Richiem1987

So local searches are now complete, just waiting on the solicitor to finish up. Electrical safety inspection happening on the 28th, so hopefully after that, we can start to arrange exchange and completion. A lead pipe was indenfitied during a survey, however, I went to the property for another viewing to check it out, and it was infact PVC. Everything else is in order, but electrics not checked since 2011!

Hopefully complete on the 24th June with any luck, as if it drags on until July, due to work commitments, completion may well have to wait until the back end of July. Pressure is on. 

Slithery

Richiem1987 said:

So local searches are now complete, just waiting on the solicitor to finish up.

What stage are all of the enquiries at? This can often be the longest part of the process taking weeks/months and usually doesn't start until all searches are back.

Richiem1987

Slithery said:

Richiem1987 said:

So local searches are now complete, just waiting on the solicitor to finish up.

What stage are all of the enquiries at? This can often be the longest part of the process taking weeks/months and usually doesn't start until all searches are back.

All enquiries are now complete, apart from enquires on the local searches, which are nearlly complete. My solicitor started raising enquires before the local searches were even instructed (due to waiting for the Mortgage offer).. I think though I may be waiting until late July. 

babyblade41

Richiem1987 said:

So local searches are now complete, just waiting on the solicitor to finish up. Electrical safety inspection happening on the 28th, so hopefully after that, we can start to arrange exchange and completion. A lead pipe was indenfitied during a survey, however, I went to the property for another viewing to check it out, and it was infact PVC. Everything else is in order, but electrics not checked since 2011!

Hopefully complete on the 24th June with any luck, as if it drags on until July, due to work commitments, completion may well have to wait until the back end of July. Pressure is on. 

Expect the report for them to be not up to standard, unless they were recently updated they won't be up to regulation standard.
People don't normally get their electrics checked until something goes wrong 

TheJP

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. 

I tend not to do this, as soon as your buyers are in the house expect a bombardment of texts about the house. My brother still gets texts from his buyers 2 years on which are all trivial stuff. He just ignores them now, the best one was after a year 'What colour bins go out tomorrow?'

TheJP

hpsauce86 said:

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! 

Or let the sellers get on with packing their house up in private, measure up when the house is yours. Nothing worse than a buyer wanting to come into the house to 'measure up' at the height of packing and sorting.

hpsauce86

Fingers crossed we exchange this week, we’ve told everyone numerous times that we have to give notice on our rental by the 27th, so I’m hoping we can clinch this this week! Argh!! Exciting but also very worried it won’t happen in our time line. 

hpsauce86

TheJP said:

hpsauce86 said:

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! 

Or let the sellers get on with packing their house up in private, measure up when the house is yours. Nothing worse than a buyer wanting to come into the house to 'measure up' at the height of packing and sorting.

This is unreasonable, of course if you have exchanged you should be able to go and measure up. There’s at least a 10 week wait time for ordering large furniture at the moment, it’s far from unreasonable to be able to try and get organised. 

Megaross

My timeline

List fleecehold flat October 2019
Sell it February 2020
March 2020 offer accepted
May 2020 I'm well and truly ready
June 2020 told to box up because we will exchange next week

August 2020, buyer dropped out apparently without telling anyone
September 2020 new buyer

January 2020 move in with a friend to sell house

Fast forward to February 2020, all the while still living out of boxes house sellers say the onward chain causing the issues has dropped out, and they now need more money - which I'm forced to pay

May 2020 still waiting, told last week by the agent it was ready to go, my solicitor then informs me the agent is lying or has had bad information

Yep, that's me so far. I can't drop out and buy anywhere else because there's nowhere to buy quite frankly, there's tiny terraces in bad areas which need refurb going for more money at this point.

In this time I've driven my solicitor and mortgage broker insane and lost thousands. Joys of being stuck waiting eh?

TheJP

hpsauce86 said:

TheJP said:

hpsauce86 said:

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! 

Or let the sellers get on with packing their house up in private, measure up when the house is yours. Nothing worse than a buyer wanting to come into the house to 'measure up' at the height of packing and sorting.

This is unreasonable, of course if you have exchanged you should be able to go and measure up. There’s at least a 10 week wait time for ordering large furniture at the moment, it’s far from unreasonable to be able to try and get organised. 

Why wouldn't you have measured up before exchange. Its not the sellers issue on furniture lead times, they have a house to pack so let them get on with it. Its also pretty difficult to measure up surrounded by boxes and as someone who has sold before i would not be comfortable having someone wanting to move boxes around.