The NEW waiting to exchange thread...

SG27

28/4 offer accepted
03/5 draft contract pack sent from our solicitor
03/5 valuation
08/5 buyer mortgage approved!
17/5 searches back, enquiries received and repied to.
22/5 completion statement received, solicitor requested exchange date from buyer!
24/5 appointment to sign contracts
30/5 homebuyers survey......
04/6 buyers solicitor insisting on listed building consent for work not requiring LBC!?


Still waiting...

I assume they buyers solicitor is now satisfied as its been over a week with no response? My solicitor says she will chase them for an update in the next day or two.

I cant stand waiting!! Nothing gets me stressed usually but this is so stressful!

FTBlalala

Similar to a few others, long time lurker, a few posts. Just thought I'd add my timeline of my purchase and hopefully it helps someone out there

We have been saving for 2 years and finally we got to Jan 2018 which was our goal and we have enough for deposit and fees and stamp duty announcement was super welcome! So we are both 24 year old FTB's with H2B ISA's looking to buy 1 or 2 bed flat or maisonette around £200-240k (we live down south, not as expensive as London but still a bit on the pricey side, tiny one bed house starts at £260k).

Jan - Mar - Viewings of all sorts,endless EA phone calls
17th March - 1st Viewing of house we purchased
20th March - 2nd Viewing of house we purchased
21st March - Offer, Negotiated, 2nd Offer accepted
22nd March - Instruct Solicitors
27th March - Receive Memo of Sale and confirmation solicitor's have opened case
10th April - My Solicitors receive Contract Pack from Seller's Solicitors
17th April - Building Structural Survey done (took longer than would of liked due to busy time)
24th April - Receive survey report, everything was as we expected so no major concerns
24th April - Instruct Solicitor's to carry out searches (pay for searches £150 - we waited until after survey to instruct searches just in case as there were a few things we needed answers to via the survey before committing)
24th April - Initial mortgage finder application submitted to L&C free broker
25th April - Phone call to discuss needs of mortgage
26th April - Receive first recommendation (not suitable - Clydesdale)
27th April - Receive second recommendation (suitable - Virgin Money)
30th April - (Monday morning!) Confirm we are happy via email and phone, application submitted to Virgin Money
1st May 10am (ish) - L&C Case tracking account set up and assigned Case Manager. Awaiting Virgin Money to confirm what docs they require
1st May 4pm (ish) - L&C Case Manager confirms docs needed and sends over DD Mandate and mortgage declaration form to be signed. (Docs needed; Proof of H2B ISA deposit savings for each of us, proof of deposit in normal savings accounts, 3 x latest payslips for each of us, P60 for each of us, signed DD mandate, signed declaration and confirmation of chosen solicitor's)
2nd May - First thing, sent all docs requested to L&C Case Manager.
3rd May - Mini heart attack (over reaction by nervous FTB), Case Manager asks about dependents date of birth's and names on behalf of VM. We have no dependents so confirm back to broker, just other half and I.
4th May - Case Manager replies they were asking as I had £100 in the childcare/school/uni fees in the budget planner which I had explained to the broker on submission but message lost in process. Cleared up that this was for my qualification I am currently studying. Case Manager and VM happy with explanation.
5th-7th May Bank holiday weekend - Discover that I am not as patient a person as I originally thought.
9th May - Email Case Manager to see if/when valuation taking place and if I need to do anything. Email Solicitor for update.
9th May - Case Manager replies that the valuation took place yesterday! (08/05) VM usually take 2-3 days to process. She will chase tomorrow (10/05) to see if anything else is needed from us.
10th May 6pm - Congratulations, please see attached your mortgage offer!
16th May - Receive alot... A LOT of paperwork from solicitor's via post. Including everything that needs a signature. Most enquiries answered, few extra raised and a few still outstanding.
17th May - Reply to sol's via email with a couple questions.
21st May - Receive replies for various bits, now happy to sign contracts and other bits and bobs.
25th May - Sent off all paperwork via special delivery.
29th May - Sol's receive it, delayed due to various reasons (refund received for Special delivery cost) AND also Bank Holiday! arrrgghhh...
31st May - Final enquiries answered and EA chasing me for exchange (when the replies were only with my Sol that morning!). Super fab Sol reviews replies and forwards on to me same day. Everything as expected.
1st June 10am - Sol sends email saying the chain (us, my seller, house seller is buying) is ready to go, just waiting on our deposit. Sends over completion statement (which our H2B ISA bonus amount was included so we actually paid less than we were expecting). EA chases me.
1st June 11.30am - Off to the bank I go to pay the money!
1st June 1.30pm - Sol confirms they have received the funds, just waiting for confirmation from chain.
1st June 2.30pm - Email saying the top isn't ready! No exchange today, hopefully next week! Arrgghhhh all that rushing and chasing us and they weren't even ready!
4th-7th June - Various emails back and forth all trying to chase the top.
7th June 5pm - Sol phone call, everyone is ready, happy to exchange tomorrow? YES!
8th June - Exchange takes place, completion on 18th June!!

Can't wait! Hopefully all goes smoothly on the day!:T:T:T

I'm crossing my finger's for anyone anywhere in the process :j

Akahotpot

Well its 16:20 I am meant to be completing tomorrow but haven't exchanged as yet
Sols has all monies just waiting for the nod ....frustrating this

FTB2626

Just got the news that our Mortgage has been approved!!!

All searches have come back today also. Does anyone know what the next stage is?

The house we are buying is empty and we are currently in private rental.

SG27

FTB2626 wrote: »

Just got the news that our Mortgage has been approved!!!

All searches have come back today also. Does anyone know what the next stage is?

The house we are buying is empty and we are currently in private rental.

Your solicitor will send a list of enquiries to vendors solicitor/vendor to answer.

lena_halo

No exchange yet... Sols for the purchase say they are waiting for confirmation that the management company (buying a 5-year-old new build) will accept just one copy of the deed of covenant or whether they need two... They raised this over a week ago now and still not confirmed...

Waiting on the buyer's sol to confirm they are happy with enquiries and ready to exchange.

Vendor has moved out into her new build though, house definitely empty when we went past last night and we are so excited to go and see it tomorrow with the EA to do some measurements and things

Sienna1990

Call from our solicitor this morning to say we can't exchange this week as the top of the chain STILL isn't ready :mad:

They said it will be next week now. That's what they said last week........ I hate being stuck in limbo. We really need to complete 29th June

jennhg88

Got our mortgage offer, seen the draft contracts and we got the transfer of deeds signed and witnessed last night.
However, our buyer and her associated sale seem to be going as slow as snails and our solicitor for our sale as yet to really have anything to do.
We have an exchange deadline of the 29th June, I think the next two weeks are going to be fuuuuun!

jedthehumanoid

Can unexpectedly join this thread - absolutely did not think we could get to this point but here we are. Our timeline so far...


15/03 Initial chat with Natwest, AIP given with soft search.
30/03 Issues on credit reports shown to Natwest, new AIP given.
15/04 Contacted broker as did not believe Natwest would accept our full application, broker agrees and looks for lenders who will consider us.
16/04 Begin house hunting in earnest.
21/05 Initial offer made, rejected 24/05
24/05 Second and final offer made.
25/05 Offer accepted.
25/05 Back to broker to discuss options. Solicitors contacted, asked to wait until we have offer before conducting searches due to our circumstances.
31/05 AIP referred with Principality, as expected with previous credit issues declared (not a straight decline, woop!)
31/05 Progressed to full application with Principality.
05/06 Broker contacted us to say Principality are happy to progress on to the valuation.
08/06 Valuation and Homebuyers takes place.
14/06 Mortgage offer received in the post and Homebuyers report received. Solicitors contacted to crack on!


A long way to go yet but with no chain involved we're hoping things go smoothly - not taking anything for granted until we have the keys though.

Roo89

Our chain is finally complete!!!!

Top of the chain is buying a new build which the EA said has a 28 day exchange? Not really sure what that means but EA said there were a few things that need to be tied up and then they'll be back in touch with dates.

I'm hoping we get a few days notice for the exchange so it's not a stressful crazy rush to close our H2B ISAs and send across the closing statements and deposit monies to the solicitor.

Feel so relieved that the chain is now complete, just wait for dates and then we can start planning the actual move

Timeline so far:
30th Jan - DIP Approved
12th Feb - Offer Accepted
15th Feb - Solicitor's Instructed
20th Feb - Mortgage Application Submitted
27th Feb - Valuation and Survey Completed
2nd March - More Information Request from Nationwide
7th March - Nationwide ask the same questions again
14th March - Mortgage Offer Received
12th April - Ready to Exchange pending Chain Completion
13th June - Chain Complete