The NEW waiting to exchange thread...

Vampyr

TamsinC wrote: »

Ug - had Nationwide valuation survey a week ago and heard nothing since - emailed our contact at Nationwide and apparently the 'new business team' haven't even looked at the valuation yet. This is a waste of a whole week. Do they have no idea about what they put us through?

Nationwide were ridiculously slow with me. Their internal systems are not great. They do one check at a time, so you get multiple requests for information over the course of weeks, and you keep getting thrown to the end of the queue after each check. I pre-empted all their questions and just sent them everything and they still came back asking for things I'd already sent them. They really have a "computer say no" mentality - no initiate at all.

My advice - ring them every 2 days. I often got new requests on the phone before an email was even sent out. In the end when it became obvious they were being inept, I made a formal complaint. My case got fast tracked and resolved in less than 12 hours.

T4taylor

Hi folks latest update from me. You may remember me posting the worst luck in the world we have had thus far. Well on the 12th I called the EA and found a completion date had been suggested as the 23rd of March although we were not informed upon this by the solicitor. Solicitor also said they were waiting for responses from enquiries although EA chased vendor!!!8217;s solicitor and said these had been completed and returned. Since the 12th I have sent 3 emails to the solicitor asking for the enquiries report and not heard a single thing. Not even an acknowledgment of the emails.

Today got fed up of waiting so went into solicitors. They wouldn!!!8217;t see us so we got fobbed off with a paralegal who had to keep going upstairs to the solicitor to find out answers. Turns out another enquiry is still outstanding!

We wanted to exchange by the end of Feb in order to give notice to our landlord for moving out 23rd March but don!!!8217;t see how this can happen now. Also the property the vendor is buying is still waiting for probate. We went to see the house today and the vendor was worried about us pulling out because of the probate delay. While we were there she actually got a phone call which was an update to say probate should be sent off on Monday and expedited to return 2 weeks later. Therefore we agreed on a new date of 20th April for completion which now gives us more breathing space to exchange. Phew!

Vampyr

T4taylor wrote: »

Well on the 12th I called the EA and found a completion date had been suggested as the 23rd of March although we were not informed upon this by the solicitor. Solicitor also said they were waiting for responses from enquiries although EA chased vendor!!!8217;s solicitor and said these had been completed and returned. Since the 12th I have sent 3 emails to the solicitor asking for the enquiries report and not heard a single thing. Not even an acknowledgment of the emails.

That is disgraceful behaviour. If you have until April, I'd find another solicitor. Most of them are awful but they should at least respond.

T4taylor

Thanks Vampyr, we have talked about this but feel it would be awkward as solicitor is an old acquaintance of my husband. Also as we have got this far down the line I am guessing we would have to pay to pull out of their services and then pay again with someone new? We did make clear (to the paralegal who did speak to us) that we thought the communication was really poor.

liquoricet

Completion day today! I've got to work until 1130 which is probably not a bad thing as I'll be distracted. However, my breakfast is packed so going to have to forage in the 6th form canteen!

Lots of luck to those waiting to exchange. This feels like a long process but actually we made our offer in the October half term so it's probably an average amount of time.

I agree about lots of communication, either with mortgage companies or solicitors. Our solicitors were excellent, we didn't have an estate agent (sale to a neighbour) and they have certainly earned their money. I rang them at least weekly but more when we thought we were ready to exchange. They were also good at answering emails.

G.McC

We went with Nationwide through a broker and we really wish we had went direct!

They carried out the valuation on Tuesday and came back to say they need more information about our deposit. We thought this might have been a problem but of course the broker brushed it off and said to apply anyway!

My partner inherited the money when his father died. He then transferred it to his uncle who works in banking and who invested it, along with other family money, in an investment portfolio - low risk things like pensions etc.

He's instructed the fund to release the money and sent a signed letter to that effect. We provided the broker with the initial inheritance letter, the bank statements showing the money being sent to his uncle and then finally the letter from his uncle saying that he is returning the money entrusted to him and that he has no financial interest in the house etc.

The money isn't in his account yet - taking longer that we had thought to clear but we had asked if this would be a problem and the broker had said no! Have lost even more faith in them because now they're banging on about speaking to the solicitor of the trust fund, which we don't have as it isn't a trust fund.

Nationwide need to see it in the account - had we known this we would have ignored the broker and just waited a month when it would have been in the account! I spoke to Nationwide directly after we submitted the application and the brokers secretary was really funny about it - told me I can't do that and that they are in charge of communication etc.

Now we're worried that Nationwide will revise their deal and we won't get the rate from our initial illustration. Am I right in thinking that they can change the rate right up until you sign the accepted offer?

lovehols

TamsinC wrote: »

After reading on here - I am getting a septic tank survey - never even knew they existed!!!!

It may just be worth it - £205 = £10k off for us.

lovehols

Another week:

My update, yesterday we had revised mortgage offer from Barclays so I believe we are just waiting for the paperwork from solicitors to come through now and we should be able to exchange next week - 3 weeks before completion. Luckily neither us or the seller have a chain but we are tied in to the 22nd March at the earliest due to a clause about redeeming our current mortgage first. Tomorrow is 12 weeks exactly since we made the offer.

Janey - hoping you exchange today!

Congratulations to Aliliva, RXT156 and liquorice.

To those who are in the early stages, welcome to at least 2-4 months of no sleep and dreaming houses.

MrBrindle

MrBrindle wrote: »

We signed the contracts to the sale of our house last week, and signed the contracts of purchase Tuesday. We understand our buyers have signed everything and are ready to go, but we're not sure of their buyers' position. There is no chain on the house we are buying.

Given it's only been 2 days since we last heard news, how long would you leave it till chasing the solicitors for an update? And asking if we can look at agreeing an exchange date?

Any advice on the above??

MrBrindle

Just had a phone call saying we may exchange today! Haven't even sorted new house insurance out yet. Does anyone know if you can set up house insurance on the day? Will have to do that tonight now if this all happens today.