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The NEW waiting to exchange thread...
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Hi all,
Looking a bit of advice on how to deal with this or opinion on how normal this is.
FTB, vendor moving into new build so no chain. Offer accepted towards end of May, mortgage application and solicitor instructed early June. Mortgage offer received 3-4 weeks ago and promptly returned but still no completion date agreed or idea of when exchange will occur. My current rental agreement expires end of July, want to provide months notice for end of August but reluctant to do that until have concrete dates.
Main issue is mortgage advisor/broker I went with claimed they'd do everything, deal with estate agent, etc. but takes a week or more to response to basic questions and has needed constant chasing. I really don't understand why they said will do something and then not bother. Solicitor has online tracking which is useless and when called has said waiting on a few minor enquiries but they seem to be outstanding for more than a month.
Appreciate these things take time but had vendors estate agent on phone at the start of the week asking what the hold up was. Seems to still be a communications issue with the various parties. Amazed at lack of discussion with anyone regarding dates and that I haven't received any other questions from vendor.
Completion at end of July seems unlikely so have been pushing for mid August for the past few weeks. Will continue to chase solicitor and vendors estate agent but struggling to understand what is causing the hold up. Frustrating to be so close but unable to prepare for move or even book time off work.0 -
Update on myself...
6th June - Full application made with Nationwide
7th June - Valuation booked for 14th of June
14th June - Valuation took place
18th June - Valuation accepted
20th June - requested bank statements
20th June - Instructed a solicitor
26th June - Mortage offer issued.
29th June - Solicitor receives the draft contract, Searches begins
9th July - Still waiting for Searches.
19th July - Receive Searches, Solicitor has raised inquiries and sent the contract back to their solicitor has it didn't have the full names...
20th July - Return Mortage Deed to the solicitor
20th July - Vender contacted me to say They have responded to everything.
I'd love a date for exchange soon!0 -
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Thrugelmir wrote: »At what stage is the newbuild.
Should have mentioned that, as far as I'm aware been complete since start of the month and vendors ready to move.
Plan to chase everyone again tomorrow but it's a struggle to get the people I'm paying to progress things never mind people on the vendors side.
Knowing what I know now and what I've read here, really wish I hadn't went with a mortgage advisor. Straightforward case, affordability not an issue but things taken out of my hands and promises made but not delivered. Minor issue but perfect example, 3 weeks ago got the hard sell about insurance, happy to organise this myself but said I'd look at quotes which I was told I'd receive within 24 hours, still waiting.0 -
How long?
Was it a Probate sale by any chance?
No it was just a whole lot of problems on the house our seller was buying, trying to get covenents/restrictions uplifted, slow solicitors at the top of the chain, also the person selling at the top works 2 weeks on 2 weeks off around the world which didnt help with answering questions. Kept getting to what we thought was the final hurdle, only to be told something else was needed. But because it wasn't anything to do with our purchase we was told very little information so we was completely in the dark. Thought it was never going to happen and close to pulling out but here we are! Only 3 of us in the chain, we are FTB at the bottom. We was ready to exchange on 5th April so been waiting ever since! Definitely :beer: time!0 -
monday 25th june, saw the house, loved it, made 3 escalating offers, last one was accepted that same day. Cash offer and no chain, either of us
23rd july searches paid for
26 july earliest date for full structs survey
depends on survey now, if no major nasties, then it will be good to go. Vendor has pencilled in removals mid august. Down to her tbh, I am not buying and selling at the same time but am crazily sorting and packing whatever I can and storing in my big outside store and in my garage. Mostly garden stuff and workshop stuff at the moment. I intend to move in stages
I think exchange will be agreed soon after survey, provided the searches come back ok and vendor has found somewhere to rent. She wants asap0 -
Hi all,
quick question if someone can help me. Received offer and have been asked to go to solicitors to sign contracts so that everything is ready for exchange. we are also having some of the deposit as a gift from a family member, we were asked to show proof of it being in their bank and they have said they are getting a loan out to gift to us. will this be ok? I know its frowned on if we were using credit for a deposit but as this doesn't effect our monthly outgoing I am hoping it doesn't matter... Advice from someone in the know would be great.
Thanks!0 -
Hi all,
quick question if someone can help me. Received offer and have been asked to go to solicitors to sign contracts so that everything is ready for exchange. we are also having some of the deposit as a gift from a family member, we were asked to show proof of it being in their bank and they have said they are getting a loan out to gift to us. will this be ok? I know its frowned on if we were using credit for a deposit but as this doesn't effect our monthly outgoing I am hoping it doesn't matter... Advice from someone in the know would be great.
Thanks!
The obvious question for me would be - is the money already in their bank account if so you should be able to prove the funds are there, if not you can't can you.0 -
The obvious question for me would be - is the money already in their bank account if so you should be able to prove the funds are there, if not you can't can you.
Yes, it is in there. I am just concerned as this is a bank loan which I have only just been made aware of so its made me ask the question....0
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