The NEW waiting to exchange thread...

TickTok

Magnus91 wrote: »

Yep, FTB here too, and no chain as the property I'm buying is empty!

Apparently he went on holiday for a month before giving in the paperwork, and then they said there was a problem with the land registry that they needed to solve but wouldn't say what it was, I just think it was all stalling tactics!

I've been keeping an eye on rightmove this whole time tbh! It does help that this place is perfect and nothing even close in comparison has come up so at least I didn't have to think about whether I wanted to cut my losses and find somewhere else!

Our final search should be back on Monday, so I'm going to ring around and chase everything up on Tuesday, hopefully we're finally close to the end now!

Wednesday will mark week 13 since the offer was accepted, which doesn't seem too bad seeing as I think the average is 12 weeks and we've had so much problems?

Ugh, the games some vendors play! I know what you mean about hanging in there because its the perfect place. I just wanted a flat I could fix up a bit, but I was fortunate to get both a balcony AND designated parking (and I don't even own a car), and location is perfect, too.

It's great that the end is in sight for you, I hope all goes well with your searches. Every success story I read on here gives me a little hope.

TickTok

123kl wrote: »

I know every situation is different but how long did everyone's searches take to come back? thanks

Your council's website may give you an indication of how long they take to process search requests.

Mine published a time frame of 15 to 20 working days, which is longer than most I think. They've also warned that due to staffing and technical issues they have a backlog - which helps to manage expectations. When I rang, they said it was taking about 18 days.

devildolly5

Updates in bold

Timelines so far
15/5 Our house goes up for sale
1/6 Accept offer on our house
20/6 Offer accepted on a house, and our buyers have their mortgage offered
21/6 All documents to our solicitor for both sale and purchase
21/6 Buyers tell estate agent they want to complete by end of July!!! Dream on.
22/6 Mortgage applied for new house
26/6 Contacted solicitor to check they received the money on account - radio silence
27/6 Mortgage offer received (super quick!)
28/6 Waiting for something to happen.......
6/8 Contracts signed and all enquirers answered for our sale. We are good to go here I think. Waiting for searches to come back for our purchase (estimated 10th August), and for the vendors solicitor to pass the answers to our enquirers to ours, so we can get the contract signed.


Buyers want early August exchange. I would love to but cant see it happening unless everything falls into place this week.

Its Monday, so back to sending chase up emails to everyone finding out whats going on.

Did anyone chase up their searches, and did it speed things along? Our new council doesn't say how long this will take on the website and there are also searches to be done at the water company etc. This will most likely be the last thing between us and exchange.

Roo89

Roo89 wrote: »

Everyone has said they want to complete by end of August, which will be perfect as our mortgage offer (and our vendor's mortgage offer) expires 10th September.

:wall:

How can they all say they want to complete before the end of August, when they haven't responded to an outstanding enquiry!

We've been ready since April, but our vendor has been waiting for an answer to one enquiry since then, apparently their vendor (vendor2) responded 2 weeks ago but their solicitor hasn't sent the response to our vendor's solicitor.

Everything is waiting on vendor2, and they are really starting to !!!! me off. I know there were issues with their first 2 purchases but that was mostly out of their control. They finally had an offer accepted June 25th and keep saying how they want to exchange before kids go back to school etc but nothing is happening :mad:

s_glover

A quick update (new points in bold) from me:



April 18 Informal mortgage offer
17/04/18 Put our house on the market
20/06/18 Accepted an offer on our house
09/07/18 Valuation on our house
17/07/18 Had our offer accepted on new house
18/07/18 Homebuyers survey completed on our house
01/08/18 Formal Mortgage Application Made and DIP given (subject valuation and paperwork)
06/08/18 Instructed surveyor to carry out Homebuyer Report

Paperwork to be sent to mortgage supplier 07/08/18 and hopefully valuation completed this week too.

thethirdbar

Been lurking surreptitiously on this thread since January ! Glad to finally be able to join... 7 months in and counting.

our timeline:
late Dec - 'MIP' online with Trussle... assumed that would be enough for viewing with EAs as we weren't really planning on offering on anything just yet, but...
31st Dec - offer submitted to EA
2nd Jan - offer accepted
3rd Jan - engaged broker & provided all info
30th Jan - DIP with nationwide
...
[Horrendous void of time where our vendor fails to find a new property to buy. I read what feels like every single thread on MSE house buying forum and become essentially an expert on the whole process ].
...
17th May - offer verbally accepted on a new property - back in touch with broker who resubmits our Nationwide DIP
18th May - original vendor lets us know they've decided not to sell after all. What a shock. Spooky timing, but all for the good.
22nd May - new DIP declined. panic ! our circumstances haven't changed except for the better; purchase price is the same. aaargh why?!. Broker submits new DIP with new lender.
23rd May - declined. what in the heck. we're in a good position except for 95% LTV and one tiny 5yr old mobile phone default. Frustration. Broker has alternative option which overall appears to be a better deal so not sure why this was a 3rd choice. Broker came recommended by family members so have to have faith he'll come through...
25th May - written offer acceptance finally comes through
25th May - DIP agreed with new lender.
4th June - full application submitted - there was a bit of a delay as they wanted up to date payslips / statements as the last ones they'd had were for April.

[Horrendous void of time where, having released a very competitive rate, our small lender is drowned under a deluge of applications and advises a 3-week wait to process ours.]

28th June - lender confirms valuation instructed

[Further void of time where lender/surveyor plays communication tennis with Purplebricks/vendor to try and schedule survey. Eventually vendor provides us her mum's phone number to pass on to the surveyor to arrange directly. Valuation scheduled for 12th July]

17th July - valuation report comes back - downvalued by £10k. lol. Explain situation to vendor who agrees to consider new offer.

18th July - vendor rejects new offer.

19th July - we increase our offer by £2.5k. Anxious. Really really don't want to start the whole process again but this is the maximum we can justify given our low LTV.

24th July - vendor accepts. PRAISE BE.

26th July - mortgage offer received !! oh my god.

In the meantime our solicitors have been beavering away - we've had searches and enquiries back and I've just had a message from them stating that they've sent out our draft contract pack. How exciting ! Could this really be happening ? Haven't even started to consider dates till now but now I'm hopeful exchange could happen in Aug... now hoping to exchange before 24th Aug to coincide with our rental period, so we can give notice and leave by end Sept. We've been in our flat for over 5 years so it's all feeling a bit scary - moving hasn't felt like a real prospect till now !


To date this has been a painful, painful process... ee this house buying lark is fun, in't it? Best wishes to everyone else currently stuck in the same boat, hope you all get good news very soon.

FTB0101

My timeline using Aldermore through a broker
AIP 22/06
Offer made and accepted 27/06
Full Application 04/07
Solicitor instructed 04/07
Valuation instructed 10/07
Draft contract received 11/07
initial enquiries raised 11/07
Searches Requested 11/07
Valuation completed 12/07
Additional information requested 19/07
searches received 24/07
Additonal information provided 28/07
Validation call 03/07
Mortgage offer 06/08

123kl

thethirdbar wrote: »

Been lurking surreptitiously on this thread since January ! Glad to finally be able to join... 7 months in and counting.

our timeline:
late Dec - 'MIP' online with Trussle... assumed that would be enough for viewing with EAs as we weren't really planning on offering on anything just yet, but...
31st Dec - offer submitted to EA
2nd Jan - offer accepted
3rd Jan - engaged broker & provided all info
30th Jan - DIP with nationwide
...
[Horrendous void of time where our vendor fails to find a new property to buy. I read what feels like every single thread on MSE house buying forum and become essentially an expert on the whole process ].
...
17th May - offer verbally accepted on a new property - back in touch with broker who resubmits our Nationwide DIP
18th May - original vendor lets us know they've decided not to sell after all. What a shock. Spooky timing, but all for the good.
22nd May - new DIP declined. panic ! our circumstances haven't changed except for the better; purchase price is the same. aaargh why?!. Broker submits new DIP with new lender.
23rd May - declined. what in the heck. we're in a good position except for 95% LTV and one tiny 5yr old mobile phone default. Frustration. Broker has alternative option which overall appears to be a better deal so not sure why this was a 3rd choice. Broker came recommended by family members so have to have faith he'll come through...
25th May - written offer acceptance finally comes through
25th May - DIP agreed with new lender.
4th June - full application submitted - there was a bit of a delay as they wanted up to date payslips / statements as the last ones they'd had were for April.

[Horrendous void of time where, having released a very competitive rate, our small lender is drowned under a deluge of applications and advises a 3-week wait to process ours.]

28th June - lender confirms valuation instructed

[Further void of time where lender/surveyor plays communication tennis with Purplebricks/vendor to try and schedule survey. Eventually vendor provides us her mum's phone number to pass on to the surveyor to arrange directly. Valuation scheduled for 12th July]

17th July - valuation report comes back - downvalued by £10k. lol. Explain situation to vendor who agrees to consider new offer.

18th July - vendor rejects new offer.

19th July - we increase our offer by £2.5k. Anxious. Really really don't want to start the whole process again but this is the maximum we can justify given our low LTV.

24th July - vendor accepts. PRAISE BE.

26th July - mortgage offer received !! oh my god.

In the meantime our solicitors have been beavering away - we've had searches and enquiries back and I've just had a message from them stating that they've sent out our draft contract pack. How exciting ! Could this really be happening ? Haven't even started to consider dates till now but now I'm hopeful exchange could happen in Aug... now hoping to exchange before 24th Aug to coincide with our rental period, so we can give notice and leave by end Sept. We've been in our flat for over 5 years so it's all feeling a bit scary - moving hasn't felt like a real prospect till now !


To date this has been a painful, painful process... ee this house buying lark is fun, in't it? Best wishes to everyone else currently stuck in the same boat, hope you all get good news very soon.

I feel you! it's nearly at 11 months for us now and I'm so done with it! just can't seem to get answers as it's further up the chain we are waiting on now and we are approaching the expiry for the 2nd mortgage offer so it's likely we will have to get another one. My patience is wearing extremely thin

Peb205

A new mundic concrete test cost £400
However I was given a copy of the mundic report for he house we were buying that was done 1 year ago so all I wanted to do was change the name of client on it. They want to charge me £222 to change the name!
How can I get out of this or reclaim his money?
Should I complain to the lender for needing my name on it or the test company who shouldn’t charge so much or both?

thethirdbar

123kl wrote: »

I feel you! it's nearly at 11 months for us now and I'm so done with it! just can't seem to get answers as it's further up the chain we are waiting on now and we are approaching the expiry for the 2nd mortgage offer so it's likely we will have to get another one. My patience is wearing extremely thin

11 months ! is that all in the same chain or have you had some fall through too ? i dunno how you've not just thrown the towel in at this stage and given up entirely.