The NEW waiting to exchange thread...

shell88

We're now nearly 20 weeks in and still no closer to exchanging! I'm so fed up with it all now. We've need ready since July but delays are caused by vendor, it's only us 2 in the chain so it shouldn't have taken this long. They are now extending the lease on the property they're buying, any ideas how long this can take? We're currently on holiday but I can't relax at all

RackAttack2.0

Joining the thread after lurking for some time now. I feel like we're nearing the end of our process but who knows.:think:
Me and my fiance are first time buyers living with parents and the house we're purchasing is 'without chain' -the owner is moving house but has already signed for her new place and has a bridging loan until the sale completes.
Here's our timeline so far:
- 8/7 Viewed property and loved it
-12/7 Offer accepted after going to best and final with one other bidder
-18/7 Mortgage application completed (HSBC), property taken off the market and solicitors instructed
-26/7 Solicitors required docs returned, Vendors sent draft contract and mortgage application approved :j
~Time being annoyed by surveyors who originally could do valuation on 9th but homebuyers survey not until 28th :eek: We decided to get this done separately, but it was still pushed back to 16/8 by vendor~
-16/8 Valuation and homebuyers survey completed
-17/8 Valuation accepted for mortgage amount
-23/8 Homebuyers survey back, some issues highlighted that seemed major
~Time where we were looking into the issues brought up and deciding what to do~
-30/8 Builder assessed roof and chimney (main issue in survey) and advised only minimal work was needed. Advised vendor and solicitors happy to go ahead still.
-31/8 Search fees paid to solicitor
-7/9 Returned mortgage questionnaire given by solicitors. Searches report received along with vendors fixtures and fittings forms etc
-8/9 Enquiries sent
-14/9 Solicitors confirmed enquiries answered today, waiting to be reviewed

Next steps: We're closing our Halfax help to buy ISAs tomorrow so will be giving the closing statements and forms in Monday. Hopefully the enquires have been answered satisfactorily so we can start the contract signings etc soon

We were hoping for a really quick straightforward process and apart from a few hiccups thats what we got. I'm normally very patient but I just want to get this all done with and have the keys in my hand! Hoping for exchange and completion in the next few weeks. Me and SO have the week off 15/10 and want to decorate and move in that week

Good luck to everyone waiting with us! (Sorry this post is so long xD)

toc25

Shell88 we are the same 18 weeks in and all been ready to exchange for weeks and nothing is happening. I don't know why they won't just get it done. It's getting on my nerves.

No idea about extending a lease but I would imagine it would take a few weeks at least?

shell88

It's so frustrating isn't it! We've started looking elsewhere but there isn't any others we like out there, starting to get a little worried as our mortgage offer expires end November. We optimistically ordered sofas and a table but keep having to pushing the delivery out, hoping they'll let us move it again for the 5th time!

Good luck, hope things get moving soon!

purpleparrotuk

I filled my fixtures and fittings for in weeks ago. Solicitor confirmed she has received the vendors one. About a week ago or more. When will she pass this on? Not sure what the hold up is.

Pumpkim

Well another week of total silence, hate not knowing how things are moving along! My solicitor has been really on the ball so far, I trust that if she had anything to tell me or contact me for she would be in touch straight away, so there's obviously nothing to say. Last week she updated that we were still waiting for answers to enquiries we made to vendor at the back end of August, so either their sols are being slow passing stuff on, or the vendors are being slow in answering! Still holding out for an October completion, that would be another 5 or 6 weeks, fingers crossed that's enough!

Pumpkim

purpleparrotuk wrote: »

I filled my fixtures and fittings for in weeks ago. Solicitor confirmed she has received the vendors one. About a week ago or more. When will she pass this on? Not sure what the hold up is.

My solicitor was in receipt of our vendors form before I'd 'officially' instructed her (waiting on mortgage decision), she posted it to me the day I gave her the go ahead to commence work. She said she had raised some queries from the pre-contract pack and I then raised a few more from the information form. Still waiting for the answers:(

purpleparrotuk

Pumpkim wrote: »

My solicitor was in receipt of our vendors form before I'd 'officially' instructed her (waiting on mortgage decision), she posted it to me the day I gave her the go ahead to commence work. She said she had raised some queries from the pre-contract pack and I then raised a few more from the information form. Still waiting for the answers:(

It would be nice to know what my sellers answers to the questions were in the form. Also would like to know what he is considering leaving in the house and what he might like to sell to me. Maybe I will ask my sol when i should receive it on Monday.

I understand most buyers should receive this quite early. I've been waiting a month so far. Especially since the searches have been happening for a couple of weeks.

Pumpkim

purpleparrotuk wrote: »

It would be nice to know what my sellers answers to the questions were in the form. Also would like to know what he is considering leaving in the house and what he might like to sell to me. Maybe I will ask my sol when i should receive it on Monday.

I understand most buyers should receive this quite early. I've been waiting a month so far. Especially since the searches have been happening for a couple of weeks.

A month is a long time, especially if it's with your solicitor, could understand if the seller was dragging their feet getting it back but I'd definitely chase it Monday if I were you.

Elohzedee

First time buyer, checking in after lurking these forums for a while! Here's our timeline so far:

02/09 - Offer accepted (5k under asking price)
05/09 - Full mortgage application went in with Principality Building Society (via a broker)
12/09 - Mortgage offer received and solicitors appointed
15/09 - ID checks and searches paid for with our solicitor

And now we wait! Everything has moved quickly so far, but we're trying not to get too hopeful about the next stage going as smoothly. We have two months notice to give on our rented house so trying to get the timing right.

Feeling a little stressed by not knowing my way around the full process, but a good mortgage broker is worth their weight in gold!