The NEW waiting to exchange thread...

JJMayer

Shared ownership timeline:

20/06/2018 - Viewed flat and put offer in
25/06/2018 - Offer accepted
04/07/2018 - Affordability assessment approved by housing association & Full application made to lender
11/07/2018 - More info requested
20/07/2018 - Mortgage offer received
20/07/2018 - instructed solicitor
23/07/2018 - Picked up paperwork from solicitor
25/07/2018 - Handed paperwork back to solicitor and asked to start searches. Paid initial fee for searches.
27/07/2018 - All searches complete, given EPC report and also had our sellers fittings and contents form through to say what they are leaving us.
30/07/2018 - Solicitors gone back to seller with further enquiries. waiting on response.

jedthehumanoid

Just 3 outstanding queries with the sellers solicitor and we can hopefully exchange - had to have a coal mining search but that's all fine. It's a probate sale and the sellers solicitor takes an age to do anything. Aiming for an early August completion but that seems to be getting less likely by the day.

Magnus91

My timeline -
Flat viewed - 8/5/18
Offer made and accepted - 9/5/18
Solicitors instructed - 9/5/18
Welcome pack received from solicitor - 10/5/18
Signed welcome pack/ID sent to solicitor and searches ordered- 11/5/18
Mortgage application made - 14/5/18
Mortgage valuation - 22/5/18
Mortgage offer received - 23/5/18
Second short viewing of flat - 25/05/18

Apparent problem with the land registry that needs to be sorted before draft contracts can be issued.

Received draft contracts - 28/06/18
Enquires raised - 28/06/18
Leasehold information pack received - 04/07/18
Searches ordered - 04/07/18

Radio silence from solicitor

Third, longer, viewing of flat - 16/07/18
Informed that solicitor is leaving the firm, new one will be allocated - 18/07/18
Additional enquires raised - 20/07/18
Searches received - 20/07/18
Contract received 21/07/18
Contract signed and returned 23/07/18

Not as quick as I hoped it would be as a FTB buying an empty property!

But oh well, final search due back on the 6th, and now we're just waiting for responses to the enquires from the vendor which both my solicitor and the EA have chased up.

After we receive them we can start thinking about exchange :j

mattyprice4004

Oooo, here we go again!
I bought my first property last November, but it's become quickly apparent it's not big enough. No big issue - I bought it outright, but I'll need a mortgage on the new properly - so I can let out the first place.

AIP received - 5th July
Viewed - 6th July
Offer accepted - 9th July
Formal mortgage offer sent - 17th July

It's not part of a chain on either side, so with any luck it all goes through nice and smoothly.

KingMob

Some progress but starting to think I'm cursed.

Was unable to get hold of solicitor, voicemail suggested they will be out of office until last Monday. *sigh*. Spoke to vendor's EA who seems on the ball and offered to chase vendor's solicitor.

Eventually got hold of solicitor late afternoon, still waiting on responses to trivial enquiries from vendors solicitor, has been for several weeks. Suggested they'd chase if no response in next few days. Highlighted that I want to hand notice in on current place as soon as possible as looking to complete mid august and if I don't hand notice in this week will have to pay rent until end September. That got some movement, vendors have moved out and working towards mid-august completion.

Asked about exchange date and surprised by answer, appreciate any opinion on what I'm missing here. Solicitor seemed surprised when I asked about exchange date suggesting that exchange date=completion date. Tried to explain that I was expecting to exchange sooner and complete mid-August as this would give me the confidence to hand notice in for current rental. Attempts to steer conversation ended up about completion activities. Didn't help that was also asked for info that I'd provided 5-6 weeks back.

Am I missing something obvious? I could push for completion date being next week but concerned that any deviation from current plan will end in disaster.

KingMob

Argh, apologies for using this thread as a rant but need to vent.

Thought was finally making some progress yesterday but one step forward and two steps back. Checked solicitor's online tracking and several new entries have appeared over night, one about how I've received an SMS regarding contract documentation which I haven't and another about how my proof of ID is not correct and a letter has been sent regarding this. I sent ID (passport/provisional driving license) 6 weeks back and explicitly asked if anything else was needed.

Given experiences to date, dreading what is going to happen when I try to transfer deposit to these people.

harz99

KingMob wrote: »

Argh, apologies for using this thread as a rant but need to vent.

Thought was finally making some progress yesterday but one step forward and two steps back. Checked solicitor's online tracking and several new entries have appeared over night, one about how I've received an SMS regarding contract documentation which I haven't and another about how my proof of ID is not correct and a letter has been sent regarding this. I sent ID (passport/provisional driving license) 6 weeks back and explicitly asked if anything else was needed.

Given experiences to date, dreading what is going to happen when I try to transfer deposit to these people.

Pretty sure they will not accept a provisional DL only the full monte, if you need two forms of ID best to start looking for something else they accept.


Does seem pretty pants way of doing things on the legal side.

miltipello

A quick update to our timeline so far:
30/05/2018: First meeting with mortgage broker / AIP
09/06/2018: Viewing on property
09/06/2018: First offer
11/06/2018: Offer rejected; improved offer accepted
14/06/2018: Solictor instructed
20/06/2018: Appointment with Mortgage Broker
21/06/2018: Mortgage application submitted (HSBC)
02/07/2018: Mortgage valuation completed
11/07/2018: Mortgage offer accepted
09/07/2018: HomeBuyers Report completed
16/07/2018: EICR completed following concerns in the survey
23/07/2018: Finally received Mortgage offer from lender - a full month after the application despite no queries
25/07/2018: Going to solicitors to give them all the paperwork they need from us to exchange

We're getting a gifted deposit, so that needs to be signed off by the lender. If that gets approved in a timely manner (unlikely given the time it took for the application), then we could be good to exchange by the end of the week.

One thing we have found odd is that our solicitor has a fee £175+VAT fee for completing withing 10 working days of exchange. This feels quite a long time, and a relatively large fee, for something that typically is turned around in about a week? We're happy to sit out the 10 days, so not a problem but seems a bit excessive.

KingMob

harz99 wrote: »

Pretty sure they will not accept a provisional DL only the full monte, if you need two forms of ID best to start looking for something else they accept.


Does seem pretty pants way of doing things on the legal side.

They didn't ask for two forms, I'd included passport and added the provisional license as a backup. Double checked and I definitely asked 6 weeks back for them to let me know if there was any issues or they needed anything else.

Tried calling earlier but no response, frustratingly they did reply to my email from yesterday in which i attached a recent bank statement but no mention of the ID issue at all. Also still haven't received the SMS message that was apparently sent yesterday.

Talking to vendor's EA this morning. They are ready to exchange/complete as soon as possible. I'd be very happy to do it as soon as possible but dread what mishaps may occur if I suggest bringing it forward to my solicitor. Doesn't help that 10 days after my solicitor told me they'd sort out completion date and speak to vendors solicitor/estate agent they still haven't done that.

Has not been my week, lost house keys for my current place on way home this evening. Been renting this place for close to a decade and manage to lose keys a few weeks before leaving.

Trixsie1989

Trixsie1989 wrote: »

Hi everyone, been a long time since I've posted on the forums! Anyway...
Current house buying timeline is ..
28/6 - offer made and accepted on house, mortgage application submitted and solicitors instructed
4/7- extra information requested and survey completed
9/7- more information requested
12/7- mortgage offer issued
18/7- renegotiated price following survey
26/7 - new mortgage offer received with updated price

AFAIK our solicitor still hasn't received draft contracts or anything from vendor so I've chased this with EA ... Hoping to complete before we go on holiday on 30/8 so everyone needs to get a jump on now!

Update from me ... Vendors solicitor maintains that they have sent contracts over weeks ago but our solicitor hasn't received them !!!128580; estate agent is currently chasing them both to sort it out and they all have until this afternoon before I call for updates! So frustrating! Really thought the searches etc would have been ordered by now but nope, sat waiting for other people to pull their fingers out!