The NEW waiting to exchange thread...

welly_59

Apparently I'm due to complete next Wednesday, looks like simultaneous exchange and completion as only sent completion fees yesterday

molenpad

Offered accepted on a house at the beginning of march (no chain on either side), survey done, queries settled, searches complete by the second week of April.

We have been waiting since end of March for an expedited case with the Land Registry to be sorted. The property is not currently registered with the current owner. They bought it in 2021 and it seems it was not registered properly at that time. This is a first registration. No one seems to understand what the delay is, with the only feedback we get is it's "still with the land registry"

Frustrating to be waiting on something which isn't in our control to sort out and seems difficult for anyone to chase. We were hoping to complete in June, and that might still be possible but it seems the Land Registry issue is difficult to put a timescale on thus we are in a bit of limbo at the moment. 

Mortgage offer expires in August so still plenty of time. 

SecondStar

23/1 - offer accepted

24/1 - ID & proof of address sent to estate agent

25/1 - solicitor instructed for transfer of deeds/equity & conveyancing on purchase

25/1 - meeting with mortgage advisor to confirm docs needed for full application

26/1 - submitted all docs for full mortgage application

27/1 - confirmation of mortgage application received, and valuation booked for 30/1

30/1 - valuation survey done

30/1 - solicitor checklist completed

30/1 - form of authority signed (for transfer of deeds/equity)

31/1 - mortgage offer made!

31/1 - surveyor instructed, level 3 survey booked for 10/2

3/2 - received pre-contract enquiries, report on title, copy transfer, and copy folio map from solicitor

5/2 - paid for survey & signed terms of engagement 

10/2 - Level 3 (building survey) completed

13/2 - Level 3 report arrived, and forwarded to solicitor

22/2 - title transfer deed sent to ex from ex’s lender’s solicitor 

5/4 - ex signed title transfer deed with 2 witnesses

6/4 - title transfer deed returned directly to ex’s lender’s solicitor’s office

18/4 - I signed title transfer deed witnessed by my solicitor. Also signed mortgage documents, and my ‘offer to purchase’. Loose completion date agreed for 5th May.

28/4 - 10k equity arrived with my solicitor, received my invoice and cash statement. 'Offer to purchase' was sent to my seller for them to sign. Completion date of 5th May agreed with seller's solicitor.

2/5 - Nationwide confirmed funds would be released on 4th May. Booked removals for 9th May. Solicitor confirmed 'offer to purchase' was being signed and returned, completion still to go ahead on the 5th.

5/5 - completed at 2pm, collected the keys at 2:50pm!


Cried like a baby when I opened the door, I’ve never been so happy to sleep on a blow up mattress before.

Catty288

So, we are technically FTB but remortgaging/transfer of equity due to inheritance of 50% of the property and buying out other 50%. 

It’s been one hell of a ride so far, and is our 4th attempt to get this mortgage due to lenders having issues including land registry deeds needing amending to add partners name, then beer garden next door being too close on valuation. 

Searches went through within 6 days which was amazing as was told they could take up to 10 weeks here.
TR1 completed.
Mortgage Deed signed.
Insurance in place.

We are trying to exchange, but our sols have been reviewing documents and tieing up final points for the last 2 days, and are now waiting on other party’s solicitor for response. 

We have been told that when all is reviewed and they are happy with the solicitors response, we can set a date for completion.

Terrified about this stage and, if we ever get there, pre-completion searches, in case anything goes awry now that we are sooo close. 

The waiting is driving us crazy! 

Catty288

So, we are technically FTB but remortgaging/transfer of equity due to inheritance of 50% of the property and buying out other 50%. 

It’s been one hell of a ride so far, and is our 4th attempt to get this mortgage due to lenders having issues including land registry deeds needing amending to add partners name, then beer garden next door being too close on valuation. 

Searches went through within 6 days which was amazing as was told they could take up to 10 weeks here.
TR1 completed.
Mortgage Deed signed.
Insurance in place.

We are trying to exchange, but our sols have been reviewing documents and tieing up final points for the last 2 days, and are now waiting on other party’s solicitor for response. 

We have been told that when all is reviewed and they are happy with the solicitors response, we can set a date for completion.

Terrified about this stage and, if we ever get there, pre-completion searches, in case anything goes awry now that we are sooo close. 

The waiting is driving us crazy! 

fiish

Hopefully coming in to join soon, waiting for the mortgage application outcome to be sure our purchase can proceed, first

Catty288

19th May, our Sols updated us to say they were waiting on the sellers solicitor to respond. 

22nd May, our Sols still waiting to see if sellers Sols have received the TR1 form.
24th May… still waiting.

Catty288

Our Sols finally had a response this afternoon and are now agreeing a completion date. We have said ‘as soon as feasibly possible’. Anyone know how quick they can realistically get this done? Have not yet received a response. 

babyblade41

exchange and completion can be done simultaneously , it's just a phone call .

Agreeing the date if everything has been done then you can agree for tomorrow in theory

badger09

How quickly it can be done now probably depends on how quickly the slowest lender in the chain can release the funds.
Realistically? Early next week?