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The NEW waiting to exchange thread...

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Comments

  • Domaco16 said:
    We have finally exchanged last minute today!
    our offer was accepted in April. After dealing with the top of the chain threatening to pull out three times, enquiries not being answered for weeks, waiting for management packs, waiting for answers from managing agents, having THREE different solicitors with them suddenly leaving and telling me the day before, and then finally being ready and the rest of the chain then not even being ready themselves, our solicitor waiting for a lease that doesn’t even exist, we’ve done it. Thank god for that!!!! 
    Well and im soooooo jealous! 
    Having accepted our offer in April we have been On top of everything with moving expected end of July - but because of an absolute t**t first in the chain it’s been one thing after another (we are third in chain so can’t contact them or anything) we were supposed to exchange today and their solicitors went awol and there’s been nothing from them for the past 48 hours even tho everyone been chasing and been ready for 6 weeks!!! It’s a joke! 
    I really sympathise because we’ve been trying to exchange for weeks but there was always something else that hadn’t been sorted! It is so disheartening and frustrating! The solicitors didn’t seem to actually communicate with each other at all. But you will get there eventually I never believed we would but we did!
  • noscrazy
    noscrazy Posts: 18 Forumite
    10 Posts
    noscrazy said:
    I feel like I'm at the stage where I can join this thread, here is my timeline so far:

    ·        21/06/2022 - Offer accepted

    ·        21/06/2022 - Mortgage application submitted

    ·        23/06/2022 - Underwriting agreed subject to valuation

    ·        30/06/2022 - Valuation

    ·        15/07/2022 - Mortgage offer

    ·        16/07/2022 - Searches ordered

    ·        22/07/2022 - Searches completed

    ·        22/07/2022 - Enquiries submitted

    ·        26/07/2022 - Survey

    ·        28/07/2022 – Informed only one enquiry left and we should start prepping for our deposit to be transferred over soon


    Our solicitor has been absolutely fantastic and over the moon with their service, incredibly quick so far! No exchange/completion date yet but have been told we should be completed by the end of Aug!!
    An updated timeline to the above:

    ·        21/06/2022 - Offer accepted

    ·        21/06/2022 - Mortgage application submitted

    ·        23/06/2022 - Underwriting agreed subject to valuation

    ·        30/06/2022 - Valuation

    ·        15/07/2022 - Mortgage offer

    ·        16/07/2022 - Searches ordered

    ·        22/07/2022 - Searches completed

    ·        22/07/2022 - Enquiries submitted

    ·        26/07/2022 - Survey

    ·        28/07/2022 – Informed only one enquiry left and we should start prepping for our deposit to be transferred over

    ·        29/07/2022 – Enquiries completed. LISA fund withdrawal started, given mortgage deeds, transfer deeds and contract to sign. Informed vendor is on holiday for next week or 2 and then we will be ready to exchange/complete. No official exchange date given just yet.

    ·        02/08/2022 – Survey received, everything seems OK and we are still proceeding

    ·        04/08/2022 – All signed documents returned to my solicitor

    ·        12/08/2022 – Agreed exchange + completion date proposed of 26th August – Yay!


  • Waller97
    Waller97 Posts: 12 Forumite
    First Post
    edited 15 August 2022 at 12:53PM
    FTB about to exchange (finally). A horrifying experience for anyone who wants to relate to the stress of house-buying. Dont want to buy another property ever again!! 

    13.04.2022 - offer accepted
    20.04.2022 - nationwide mortgage application submitted
    22.04.2022 - nationwide valuation booked for 04.05.2022
    03.05.2022  - building survey complete
    05.05.2022 - nationwide received property valuation
    09.05.2022 - further documents uploaded for mortgage application
    14.05.2022 - searches ordered
    18.05.2022 - initial enquiries raised
    31.05.2022 - enquiries satisfied and draft contract and TRM signed
    02.06.2022 - searches returned
    05.06.2022 - lender questioned document, clarification sent
    21.06.2022 - lender requested further bank statement
    06.07.2022 - mortgage offer issued! 
    09.07.2022 - received mortgage offer in post and saw that mortgage broker had put an incorrect solicitor on application. sent request for change of name
    18.07.2022 - new application issued with correct solicitor
    21.07.2022 - mortgage deed signed
    26.07.2022 - informed by solicitor that they have not received response from lender regarding mining report and cannot proceed until it is signed off by Nationwide. contacted Nationwide to chase this up and they have no mining report on file :) resent for approval
    02.08.2022 - chased up with nationwide to discover solicitor has sent a further letter telling them we have Japanese Knotweed at the property (we don't, solicitor made BIG error). mining report sent to valuer for sign off. escalated turn around time. 
    11.08.2022 - mining report finally signed off by valuer after escalation and solicitor corrected error regarding JK.
    12.08.2022 - file send to pre-exchange sign off
    15.08.2022 - awaiting sign off and exchange date (doing simultaneous exchange and completion)


    We will be making a few complaints along the way to the many people who put errors on file and delayed the process and we have a very frustrated seller who has threatened multiple times to re-advertise house (and I cant blame him entirely). Hopefully going to do a rushed exchange and have the keys by the end of this week!! 


  • Contracts were signed over a week ago and sent back. Everything is in place, all money paid to Solicitor including Mortgage, which first payment is 1st September. However despite chasing, still no agreed completion date, been over a week without a response on that from the vendors solicitors, so guessing a party in the chain is away on Holiday. At this rate, I will be paying a Mortgage for a property which I havent even exchanged let alone completed on if this drags on. The light is at the end of the tunnel but really fustrating. The conveyancing process started in March.
  • esubbs
    esubbs Posts: 133 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    On Friday we visited the solicitors office, signed and had witnessed all the necessary documents and made the most terrifying money transfer ever (I was so relieved when the solicitor confirmed they'd received the funds).
    So now we await the Vendor's solicitor to confirm they are ready to exchange. Our solicitor sent them an email requesting exchange before the 19th August and completion any time after 5th September which the vendor told the estate agent they'd agreed to last Thursday, but of course their solicitor hasn't got round to relaying that to ours...

    So fingers crossed for exchange some time this week!
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    We're allegedly really close to having all the paperwork together for exchange on our sale, so the buyer's solicitor reviewed the file in full again - and noticed a) that the buyer got the mortgage offer issued for the wrong flat number, and b) that they had a bunch more enquiries for our freeholder. They have sent those enquiries now, all in the spirit of 'please provide a response to section 8 question 14', and it turns out that none of those question numbers actually exist in the form the sent through. Couldn't make it up  :#
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Contracts were signed over a week ago and sent back. Everything is in place, all money paid to Solicitor including Mortgage, which first payment is 1st September. However despite chasing, still no agreed completion date, been over a week without a response on that from the vendors solicitors, so guessing a party in the chain is away on Holiday. At this rate, I will be paying a Mortgage for a property which I havent even exchanged let alone completed on if this drags on. The light is at the end of the tunnel but really fustrating. The conveyancing process started in March.
    Funds usually only get requested once the completion date is all set in stone, I'm sure '1st September' was just for illustration purposes? You won't be paying for a mortgage if you haven't even exchanged yet. Wishing you all the best, fingers crossed you hear back soon :)
  • Supposed to be exchanging today but our solicitors are now querying transactions on our bank accounts (why this wasn’t done week ago I have no idea), but I’m guessing it’s not going ahead until their queries are sorted 🤷🏼‍♀️🤷🏼‍♀️🤷🏼‍♀️
  • julicorn said:
    Contracts were signed over a week ago and sent back. Everything is in place, all money paid to Solicitor including Mortgage, which first payment is 1st September. However despite chasing, still no agreed completion date, been over a week without a response on that from the vendors solicitors, so guessing a party in the chain is away on Holiday. At this rate, I will be paying a Mortgage for a property which I havent even exchanged let alone completed on if this drags on. The light is at the end of the tunnel but really fustrating. The conveyancing process started in March.
    Funds usually only get requested once the completion date is all set in stone, I'm sure '1st September' was just for illustration purposes? You won't be paying for a mortgage if you haven't even exchanged yet. Wishing you all the best, fingers crossed you hear back soon :)
    That is not what I have been told by NatWest, they have paid the money to the soicitor. I am surprised the solicitor called it without confirming a completion date, seems daft. Vendors solicitor said all ready to go, Solicitor called for funds ready to exchange then no reponse. As far as NatWest is concerned, the Mortgage is active as it has been paid to my solicitor. 
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    julicorn said:
    Contracts were signed over a week ago and sent back. Everything is in place, all money paid to Solicitor including Mortgage, which first payment is 1st September. However despite chasing, still no agreed completion date, been over a week without a response on that from the vendors solicitors, so guessing a party in the chain is away on Holiday. At this rate, I will be paying a Mortgage for a property which I havent even exchanged let alone completed on if this drags on. The light is at the end of the tunnel but really fustrating. The conveyancing process started in March.
    Funds usually only get requested once the completion date is all set in stone, I'm sure '1st September' was just for illustration purposes? You won't be paying for a mortgage if you haven't even exchanged yet. Wishing you all the best, fingers crossed you hear back soon :)
    That is not what I have been told by NatWest, they have paid the money to the soicitor. I am surprised the solicitor called it without confirming a completion date, seems daft. Vendors solicitor said all ready to go, Solicitor called for funds ready to exchange then no reponse. As far as NatWest is concerned, the Mortgage is active as it has been paid to my solicitor. 
    Sounds unusual - were your solicitors shooting for same day exchange and completion, imminently (before the radio silence)? In that case, I suppose it would make some sense, but usually they'd at least return funds after a few days if there were delays (from what I've heard at least). 
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