The NEW waiting to exchange thread...

correll

catkei, hope all goes well for you

letitbe90

For those awaiting probate - this may give you an idea of the backlog.

My vendor applied for it 28th of March (simple estate with Will in place, no IHT payable). Originally estimated to be completed by 10th April. Due to delays with new IT system and backlog due to trying to beat the fee rise, this was revised to 27th of May.

They had written end of May to say they are still processing applications from 25th of March and that our one should be done by 14th of June.

To my absolute surprise, it was received today so we will finally exchange/complete this week!

chunkytfg

letitbe90 wrote: »

For those awaiting probate - this may give you an idea of the backlog.

My vendor applied for it 28th of March (simple estate with Will in place, no IHT payable). Originally estimated to be completed by 10th April. Due to delays with new IT system and backlog due to trying to beat the fee rise, this was revised to 27th of May.

They had written end of May to say they are still processing applications from 25th of March and that our one should be done by 14th of June.

To my absolute surprise, it was received today so we will finally exchange/complete this week!

sometime around the 8th march for our vendor. Still not been granted although it was a bit more complicated with foreign property, dual nationalities, tax in 2 countries etc etc.:mad::eek:

letitbe90

chunkytfg wrote: »

sometime around the 8th march for our vendor. Still not been granted although it was a bit more complicated with foreign property, dual nationalities, tax in 2 countries etc etc.:mad::eek:

Sounds like a complex case, wish you all the best - I know how painful the wait is...

lumpyspaceprincess

No contract pack / property report for us yet, but have had a chancel indemnity quote. Of £150! From what I read it's normally £30ish, which we'd be prepared to cover... £150 is more cash we can't spare right now with all the work we need to do when we get into the house though. Surely we'll be able to take a policy out once we're in if needs be

letitbe90

lumpyspaceprincess wrote: »

No contract pack / property report for us yet, but have had a chancel indemnity quote. Of £150! From what I read it's normally £30ish, which we'd be prepared to cover... £150 is more cash we can't spare right now with all the work we need to do when we get into the house though. Surely we'll be able to take a policy out once we're in if needs be

It was £30 quite a while back - the law changed in 2013/14 where it effectively abolished chancel liability unless the parish specifically requested an interest in properties prior to the law being enacted, so perhaps insurance companies are worried that those who explicitly wanted to remain to be able to ask for payments, are likely to do so in the future (relatively speaking). Hence the increased cost.

lumpyspaceprincess

Thanks for that - but I can see specific websites where its a lot cheaper (£30 still) if you buy it now as a registered company, so may raise that with them!

DrSpendLittle

lumpyspaceprincess wrote: »

No contract pack / property report for us yet, but have had a chancel indemnity quote. Of £150! From what I read it's normally £30ish, which we'd be prepared to cover... £150 is more cash we can't spare right now with all the work we need to do when we get into the house though. Surely we'll be able to take a policy out once we're in if needs be

We're in the exact same position but awaiting to find out if we need chancel indemnity.

Good to know the possible pricing of this. Not sure if you can take it out after completion as you will have acquired the title and all the covenants attached and therefore be liable - you should check with your solicitor.

lumpyspaceprincess

Yeah, I've spoken to the solicitor and they 'have taken my feedback on board and will source a cheaper quote' Happen the difference will be in their fee instead of the policy now 😂

Finally today had contract pack sent over and been asked for a prospective completion date. We're gonna return it in person tomorrow, as we're over in those parts, and have emailed the EA with the 26th in mind (to give working days if needed for utilities arranging etc)

Hopefully we'll be exchanged early next week!

Sunshine012

Full mortgage application
Valuation 20/05Mortgage offer 30/05
Authority to Proceed (Help to Buy)10/06
Solicitor and Taylor Wimpey notified of Authority to Proceed 11/06

Does anyone know how long until exchange of contracts?
I am aware that solicitor will have to apply for Authority to Exchange from Help to buy and she is waiting for Taylor Wimpey to issue their contracts
Anyone in similar situatio?