The NEW waiting to exchange thread...

esubbs

SlinkyWeevil said:

Just to add our two pennies on this, we are right at the start of the process chomping at the bit to get going.  We had an offer accepted 10/05, applied for mortgage same day, and are still waiting on both the mortgage offer and the draft contracts.  Been unable to get anything done without the draft contracts and this is on a no chain purchase of the house we are currently renting.  Infuriating. 

I'm with you on this. So frustrating when you just want to get on with it but are waiting on others to do their bit first.

giddypenguin

Hi all, we've had a bit of a mission to get to this point but this is our story so far...

Accept offer on our house 4th Feb 2022
Offer accepted on our onward property 28th Feb
Our buyer pulls out 1st March - vendor gives us a week to find a new buyer
We accept a new offer on 11th March
Vendor of the property pull out first week of May as they are finding the process too stressful (after not being able to find anything in their budget they like).
We have an offer accepted on a house 24th May - on the basis they are buying a vacant property and can move quickly (our buyer is now getting a bit annoyed). 
The next fortnight or so we get messed around by new vendor who have changed their mind on their onward purchase.
Offer accepted on another property 8th June - longer chain but all ready to move.
Mortgage applied 10th June.
Searches completed 15th June.
Survey booked for 22nd June.

All surveys in the chain should be complete by the end of the month - then it's the home straight right?! Chain has a target of moving early August!

Megaross

AJ1666 said:

Can the mortgage offer expire after exchanging contracts?
At what point is the mortgage locked in and can't expire? 
Is that at the exchange or is it at completion. 

I'm wondering where I need to be. 

It expires when it expires. Exchanging makes no difference to the expiry

Chloe010

Still waiting for our vendor's solicitors who are just the worst. They're using a well recommended local firm but the assigned solicitor just seems to want to be as obtuse as possible and take weeks to reply. Our sale has been ready to go since 1 June and we've had no movement in our purchase progress since sending enquiries on 11 May (aside from responses to a couple of the minor queries).

Two of the points need to go to our lender for approval, but the vendor's solicitor isn't giving clear answers so our solicitor can't actually state anything to get approval at the moment. Indemnity insurance is off the table as for some silly reason the vendor's solicitor informed the council, instead of agreeing to take out indemnity insurance... I swear they don't want to sell the house!!

They're both pretty serious points that could be resolved, but I don't think the seller has the appetite to do this - possibly the end of the road for us

nicknameless

giddypenguin said:

Hi all, we've had a bit of a mission to get to this point but this is our story so far...

Accept offer on our house 4th Feb 2022
Offer accepted on our onward property 28th Feb
Our buyer pulls out 1st March - vendor gives us a week to find a new buyer
We accept a new offer on 11th March
Vendor of the property pull out first week of May as they are finding the process too stressful (after not being able to find anything in their budget they like).
We have an offer accepted on a house 24th May - on the basis they are buying a vacant property and can move quickly (our buyer is now getting a bit annoyed). 
The next fortnight or so we get messed around by new vendor who have changed their mind on their onward purchase.
Offer accepted on another property 8th June - longer chain but all ready to move.
Mortgage applied 10th June.
Searches completed 15th June.
Survey booked for 22nd June.

All surveys in the chain should be complete by the end of the month - then it's the home straight right?! Chain has a target of moving early August!

Depends on enquiries and response to enquiries and timescales for that.

giddypenguin

nicknameless said:

giddypenguin said:

Hi all, we've had a bit of a mission to get to this point but this is our story so far...

Accept offer on our house 4th Feb 2022
Offer accepted on our onward property 28th Feb
Our buyer pulls out 1st March - vendor gives us a week to find a new buyer
We accept a new offer on 11th March
Vendor of the property pull out first week of May as they are finding the process too stressful (after not being able to find anything in their budget they like).
We have an offer accepted on a house 24th May - on the basis they are buying a vacant property and can move quickly (our buyer is now getting a bit annoyed). 
The next fortnight or so we get messed around by new vendor who have changed their mind on their onward purchase.
Offer accepted on another property 8th June - longer chain but all ready to move.
Mortgage applied 10th June.
Searches completed 15th June.
Survey booked for 22nd June.

All surveys in the chain should be complete by the end of the month - then it's the home straight right?! Chain has a target of moving early August!

Depends on enquiries and response to enquiries and timescales for that.

Good point - I’ve been talking to the solicitors reasonably regularly- next time I’ll double check whether enquiries have been raised in relation to both the purchase and the sale. Just want to move now so not afraid to have polite, but reasonably regular chats to ensure we stay towards the top of the to do list!

Megaross

I've been through some hell in my life, I have to say the pressure I'm feeling at the moment is up there.

Looks like we don't have so long left, sellers solicitor still !!!!!! assing around and today is the last day we can request funds from the mortgage company to complete before mortgage expires. Requires them to say they're ready though.

15 months, thousands of extra pounds, living out of boxes for 12 months, 5 on a sofa. And now completion may be screwed up at the point where we're reportedly ready but one solicitor doesn't seem to grasp the urgency of the situation.

Alternative is I need to reapply for mortgage, lose my early repayment charges, possibly need to rerun searches due to aging out, more money on all of that. More money on storage. More time spent sleeping on a sofa living and working in this weird purgatory.

9am I plan to be on the phone to all involved to move this and I'm not getting off til we get some movement, whatever it takes.

babyblade41

Megaross said:

I've been through some hell in my life, I have to say the pressure I'm feeling at the moment is up there.

Looks like we don't have so long left, sellers solicitor still !!!!!! assing around and today is the last day we can request funds from the mortgage company to complete before mortgage expires. Requires them to say they're ready though.

15 months, thousands of extra pounds, living out of boxes for 12 months, 5 on a sofa. And now completion may be screwed up at the point where we're reportedly ready but one solicitor doesn't seem to grasp the urgency of the situation.

Alternative is I need to reapply for mortgage, lose my early repayment charges, possibly need to rerun searches due to aging out, more money on all of that. More money on storage. More time spent sleeping on a sofa living and working in this weird purgatory.

9am I plan to be on the phone to all involved to move this and I'm not getting off til we get some movement, whatever it takes.

Hope you have good news by the end of the day 

hpsauce86

Megaross said:

I've been through some hell in my life, I have to say the pressure I'm feeling at the moment is up there.

Looks like we don't have so long left, sellers solicitor still !!!!!! assing around and today is the last day we can request funds from the mortgage company to complete before mortgage expires. Requires them to say they're ready though.

15 months, thousands of extra pounds, living out of boxes for 12 months, 5 on a sofa. And now completion may be screwed up at the point where we're reportedly ready but one solicitor doesn't seem to grasp the urgency of the situation.

Alternative is I need to reapply for mortgage, lose my early repayment charges, possibly need to rerun searches due to aging out, more money on all of that. More money on storage. More time spent sleeping on a sofa living and working in this weird purgatory.

9am I plan to be on the phone to all involved to move this and I'm not getting off til we get some movement, whatever it takes.

Fingers crossed for you today. 

Chloe010

Megaross said:

I've been through some hell in my life, I have to say the pressure I'm feeling at the moment is up there.

Looks like we don't have so long left, sellers solicitor still !!!!!! assing around and today is the last day we can request funds from the mortgage company to complete before mortgage expires. Requires them to say they're ready though.

15 months, thousands of extra pounds, living out of boxes for 12 months, 5 on a sofa. And now completion may be screwed up at the point where we're reportedly ready but one solicitor doesn't seem to grasp the urgency of the situation.

Alternative is I need to reapply for mortgage, lose my early repayment charges, possibly need to rerun searches due to aging out, more money on all of that. More money on storage. More time spent sleeping on a sofa living and working in this weird purgatory.

9am I plan to be on the phone to all involved to move this and I'm not getting off til we get some movement, whatever it takes.

Oh gosh. We’ve only been in boxes for 1.5 months - can’t imagine the stress you’re going through. Everything crossed for you!!