The NEW waiting to exchange thread...

TamsinC

put an offer in today on stunning 'heart' house (house number 2) - waiting to hear back and now the EA are shut and I will have to wait until tomorrow - the stress is killing me!

It has been accepted!

SophieP2000

My first post here!

So we got our mortgage offer today.. After 13 workings I'm so chuffed!

We instructed our solicitors straight away over 2 weeks ago now, and searches have already been requested, we have received the contract to sign, land registry docs to sign, our solicitors have sent off questions to our sellers solicitors to be answered. We have FTB buying our house, they offered about 7 weeks ago now and they are ready to exchange and waiting for us. And our sellers are buying an empty house so not much of a chain! We have direct contact with the sellers too as they are lovely and really on the ball and acting on everything fast to get things moving which I'm pleased about. Hoping to complete by the end of next month! :beer:

TamsinC

I really do wonder how people ever cope with the stress of house buying! Our offer was accepted on a house we viewed yesterday (very much a heart purchase) and I am SO stressed already. I like to micro manage things and I think I just need to hand this all to a broker and solicits and then bury my head in the sand until we need to sign stuff.

Good luck to all those completing/exchanging soon. For those struggling, I'm with you in spirit, I really do know what you are going through.

Time Scale so far . . . updates in bold
Tenants asked us if they could leave house - 26/12/17
Estate agents instructed - 31/12/17 (then a bit of bother)
House on market - 10/1/18
DIP from Nationwide 13/1/18
Offer received and accepted on our house 17/1/18
Offer made and accepted on the house we want 20/1/18
Solicitors Instructed 17/01/18
Documents picked up and filled in from Solicitor 17/1/18
Documents and ID returned to Solicitor 19/1/18
Solicitor composes draft contract & starts local searches - for selling 22/1/17 - for buying ?
Mortgage application interview - 1/2/18 - 3 and 1/2 hours of going over and over the same stuff - still not finished - they are struggling with the fact that hubby will leave the forces in Dec and go onto a service pension - we can't say what his job or wages will be at that point and so are basing the mortgage application purely on his pension. They can't cope with that and the fact that deductions from his wages NOW won't be applicable in Dec. Head office and underwriters need to be contacted. This is making a compacted issue out of something that is not complicated.
2nd Mortgage application interview - 8/1/18 - ANOTHER 2 hours going over the same information - they still don't get it but the application is going through.
Basic surveys done for our purchase - 12/2/18 - nothing untoward found
various letters and emails from our solicitors - they do seem to be on the ball though I am in contact a leasers twice a week to keep things moving forward.
Valuation survey for mortgage - 14/2/18
Chasing mortgage offer - 21/2/18
Mortgage people see and approve valuation 23/2/18
Building survey - 23/2/18 - awaiting report
Emailed mortgage approval - 26/2/18
Exchanged on the house we are selling 27/2/18
Completion on house sale 2/3/18
Chasing building survey on house we are buying 6/3/18
Received survey 7/3/18
negotiated a £10K discount
rang to sort mortgage documents with lower price 10/3/18
solicitor emails to say old document sent 13/3/18
rang again and it will be another 1 - 2 weeks! 13/3/18
email to say new mortgage offer on it's way - not the 1-2 weeks they said 16/3/18
vendor emails to say solicitor needs to do Deed of Easement 19/3/18
pulled out of the sale 27/4/18
viewed a few more houses 30/4 - 19/5/18
Offer accepted on house 2 19/5/18

SG27

TamsinC wrote: »

I really do wonder how people ever cope with the stress of house buying! Our offer was accepted on a house we viewed yesterday (very much a heart purchase) and I am SO stressed already. I like to micro manage things and I think I just need to hand this all to a broker and solicits and then bury my head in the sand until we need to sign stuff.

Good luck to all those completing/exchanging soon. For those struggling, I'm with you in spirit, I really do know what you are going through.

Time Scale so far . . . updates in bold
Tenants asked us if they could leave house - 26/12/17
Estate agents instructed - 31/12/17 (then a bit of bother)
House on market - 10/1/18
DIP from Nationwide 13/1/18
Offer received and accepted on our house 17/1/18
Offer made and accepted on the house we want 20/1/18
Solicitors Instructed 17/01/18
Documents picked up and filled in from Solicitor 17/1/18
Documents and ID returned to Solicitor 19/1/18
Solicitor composes draft contract & starts local searches - for selling 22/1/17 - for buying ?
Mortgage application interview - 1/2/18 - 3 and 1/2 hours of going over and over the same stuff - still not finished - they are struggling with the fact that hubby will leave the forces in Dec and go onto a service pension - we can't say what his job or wages will be at that point and so are basing the mortgage application purely on his pension. They can't cope with that and the fact that deductions from his wages NOW won't be applicable in Dec. Head office and underwriters need to be contacted. This is making a compacted issue out of something that is not complicated.
2nd Mortgage application interview - 8/1/18 - ANOTHER 2 hours going over the same information - they still don't get it but the application is going through.
Basic surveys done for our purchase - 12/2/18 - nothing untoward found
various letters and emails from our solicitors - they do seem to be on the ball though I am in contact a leasers twice a week to keep things moving forward.
Valuation survey for mortgage - 14/2/18
Chasing mortgage offer - 21/2/18
Mortgage people see and approve valuation 23/2/18
Building survey - 23/2/18 - awaiting report
Emailed mortgage approval - 26/2/18
Exchanged on the house we are selling 27/2/18
Completion on house sale 2/3/18
Chasing building survey on house we are buying 6/3/18
Received survey 7/7/18
negotiated a £10K discount
rang to sort mortgage documents with lower price 10/3/18
solicitor emails to say old document sent 13/3/18
rang again and it will be another 1 - 2 weeks! 13/3/18
email to say new mortgage offer on it's way - not the 1-2 weeks they said 16/3/18
vendor emails to say solicitor needs to do Deed of Easement 19/3/18
pulled out of the sale 27/4/18
viewed a few more houses 30/4 - 19/5/18
Offer accepted on house 2 19/5/18

Wow thats a long timeline!

At least you exchanged on your sale in about 6 weeks? Is that right?

TamsinC

SG27 wrote: »

Wow thats a long timeline!

At least you exchanged on your sale in about 6 weeks? Is that right?

Yes the sale went easily

SG27

TamsinC wrote: »

Yes the sale went easily

I hope mine goes a easy, im 4 weeks in and all going well so far, I feel like its too good to be true and something will pop up and ruin it.

mangog

It's been a bit quiet on our house buying front while the solicitors do their thing but we're getting close and our solicitor informed me on Friday that we may be able to exchange this week! Eek!

So - updated timeline below (updates in bold):

Viewed property 29/3
1st offer rejected 29/3
2nd offer rejected 30/3, 3rd offer accepted later the same day
AIP issued by MA 3/4
Solicitor instructed 4/4
Sellers had their offer accepted on a chain-free property 6/4
Sales memorandum received 9/4
MA submitted mortgage application to Nationwide 11/4
Survey and valuation completed 16/4
Valuation and survey both came back fine (phew) 19/4 - just the standard issues you'd expect with a Victorian terrace and a few things for the solicitor to query with the sellers
Mortgage offer received 24/4
Solicitors and vendors doing their thing for a few weeks including the sellers obtaining retrospective buildings consent for a widened doorway to the kitchen
Contract received 19/5

Now just getting quotes for buildings insurance ready for exchange, and this week we will close our H2B ISAs and get our deposit money ready to transfer. So exciting!

EstrellaOscura

mangog wrote: »

It's been a bit quiet on our house buying front while the solicitors do their thing but we're getting close and our solicitor informed me on Friday that we may be able to exchange this week! Eek!

So - updated timeline below (updates in bold):

Viewed property 29/3
1st offer rejected 29/3
2nd offer rejected 30/3, 3rd offer accepted later the same day
AIP issued by MA 3/4
Solicitor instructed 4/4
Sellers had their offer accepted on a chain-free property 6/4
Sales memorandum received 9/4
MA submitted mortgage application to Nationwide 11/4
Survey and valuation completed 16/4
Valuation and survey both came back fine (phew) 19/4 - just the standard issues you'd expect with a Victorian terrace and a few things for the solicitor to query with the sellers
Mortgage offer received 24/4
Solicitors and vendors doing their thing for a few weeks including the sellers obtaining retrospective buildings consent for a widened doorway to the kitchen
Contract received 19/5

Now just getting quotes for buildings insurance ready for exchange, and this week we will close our H2B ISAs and get our deposit money ready to transfer. So exciting!

Ah so when exactly is the right time to get insurance? We're waiting for our exchange date..

KL0001

We!!!8217;ve been advised to get quotes ready for exchange. Although as we will transfer our current insurance to our new property I!!!8217;ll just call them on the day of exchange. They need a completion date before they are willing to give us a written quote. Our current insurers apparently give free building only insurance from exchange to completion. I have done a couple of online quotes just to get an idea of how much it!!!8217;ll cost.

mangog

Our solicitor has requested proof of an insurance policy in place in order for the exchange to happen, so we've got the quote lined up and will 'activitate' it when we have a planned exchange date. I'm not sure if that's standard (I've seen different reports online) or if it's just a condition of our particular lender, but we've been told the exchange can only go ahead if we have the policy and associated paperwork ready to show the solicitor.