The NEW waiting to exchange thread...

asm89

septemberbaby wrote: »

Oh wow last week was horrendous if you see any of my posts from before everything being delayed etc but I am now sat typing this in our new home surrounded by boxes and paint!

Im so so happy.

This Forum has kept me sane!

Thank you

Very pleased for you!!! Congratulations

excelwizard

septemberbaby wrote: »

Oh wow last week was horrendous if you see any of my posts from before everything being delayed etc but I am now sat typing this in our new home surrounded by boxes and paint!

Im so so happy.

This Forum has kept me sane!

Thank you

Congratulations! :beer: We're currently in that 'going slightly mad' state at the moment - so fed up with it all and not knowing what date we're going to exchange / complete! We SHOULD hear either tomorrow or Friday whether exchange and completion is possible next Thursday/Friday. Am I delusional or can it all happen that quickly? Also has anyone had any experience with HSBC and whether they let them exchange and complete on the same day or whether they enforced a break between the two?

St_95

Hi all! Thought i'd jump on this train of emotional ups and downs! We reserved in early august and have now received our ATP and Mortgage Offer. We are due to exchange by the 14 Sep, hopefully!

Losing my mind at the minute though, when we reserved we were told completion is due late September. We then received a reservation form saying Nov '19 to Jan '20. Yesterday we received a letter saying Dec '19 to Feb '20!

When we reserved, the roof was on and the building watertight! Hopefully it won't take that long as our mortgage offer runs out 31 Dec '19. Really worrying about that tbh!

It will be worth it in the end!

chunkytfg

St_95 wrote: »

Hi all! Thought i'd jump on this train of emotional ups and downs! We reserved in early august and have now received our ATP and Mortgage Offer. We are due to exchange by the 14 Sep, hopefully!

Losing my mind at the minute though, when we reserved we were told completion is due late September. We then received a reservation form saying Nov '19 to Jan '20. Yesterday we received a letter saying Dec '19 to Feb '20!

When we reserved, the roof was on and the building watertight! Hopefully it won't take that long as our mortgage offer runs out 31 Dec '19. Really worrying about that tbh!

It will be worth it in the end!

Worth speaking to your solicitor about the mortgage date(please tell me you're not using the recommended one by the developer?)

The last thing you need is for you to exchange and then your mortgage offer runs out before you get to complete.

atinybrit

atinybrit wrote: »

Me and my OH are FTB, super excited for it all but also mildly terrified. OH has gotten trigger happy and started packing all of our worldly belongings away even though we've not got our exchange date yet!

10/08 - Viewed the property after several other viewings throughout the week. Had out heart set elsewhere until we saw this one. Had no photos of it before visiting as it hadn't technically been advertised yet!
12/08 - Made offer. Counter offer given and we accepted. Several grand less than we were expecting to pay, so happy days!
13/08 - Conveyance company instructed. 3 day wait to have initial telephone call.
14/08 - Mortgage applied for to Barclays.
16/08 - Phone call with conveyancers. Proof of funds etc sent over. L&C tell us there's been an issue with sending the application over (apparently!) so mortgage is ACTUALLY applied for on this day.
20/08 - Valuation done already and mortgage offer given! Woooo!
21/08 - Area searches requested
22/08 - Draft contracts and title docs received, signed and returned. Fixtures and fittings given - pleased to see we won't need to buy a fridge freezer or dishwasher!
28/08 - Conveyancers received mortgage offer. Mortgage deed given to be signed.

And that leads us to today!

I feel like we're doing quite well! Am I just being incredibly fortunate?
02/09 - Area searches back all good. Some enquiries made regarding certs for electricity etc.
04/09 - Estate agents called us up in the evening. Brief panic as we thought sellers were backing out but quite the opposite. Seller has some personal things going on and wants everything sorted ASAP so it's one less thing to worry about. Only outstanding our enquiries to them, so they chase it up.
05/09 - All enquiries returned, all good and signed off. All paperwork has gone to Conveyancers already. No outstanding tasks on our online portal (which has been super handy). I'm not sure what's meant to happen next to be honest! :eek:

We put the offer in just over 3 weeks ago!

Kalimero82

Hi,

Can I ask: is it reasonable to ask my lawyer an estimated time for completion and exchange?!

It's now been 2 months since I have instructed my lawyer and getting any information is like getting blood out of a stone!!! I have sooo itchy feet!! I'm currently sleeping on my parents sofa (my old bedroom has turned into an utility room years ago while at uni!).

As you can imagine I can't wait to move in! This is my (rough) timeline:
15/06: found flat and put down offer, which was accepted on same day
26/06: lawyer instructed
27/06: Mortgage application submitted through broker
03/07: Mortgage valuer inspect property - all positive
04/07: Building survey - all positive (apart from a minor leak the seller fixed following the report)
11/07: My lawyers receive documents from seller's lawyers
16/07: My lawyers start with local authority searches
17/07: Mortgage application successful
12/08: My lawyers receive response from local authority searches and ask further questions to seller's lawyers...
30/08 My lawyers receive responses to their queries from seller's lawyers

...and then that's it! I still don't have a clue (even a faint inclination) when all this process will be over!
My guess is end of September but this is just a guess!

Meanwhile my broker was pushing me to get a mortgage protection insurance. I have check with my employer and it seems that my salary protection is just as good - so no need to get another insurance policy!!

Buyer_K

Try this on for size:

27/02 Sale agreed
01/03 Solicitors instructed
15/03 Mortgage offer received
24/04 Contract report sent for signing
24/04 Enquiries report comes back with 3 enquiries answered out of 22

Enquiries remain unanswered

21/08 First answers from sellers solicitors since April come through.

Enquiries and responses sent back and forth

10/09 Mortgage offer expires.

TiberUK

- 14th of August, met with Bank (didn't use a broker but knew exactly what bank and product we wanted - not a bank we have ever banked with) and submitted mortgage application
-17th of August - application approved. Bank immediately booked a survey and this was completed within a few days.

Was told that our formal offer would arrive in the post "within a few days" but it took almost three weeks for either myself, or my solicitor to hear from the bank. My solicitor finally recieved instructions from the bank last Thursday, we met with her and signed documents the same afternoon. Unfortunately, 24 hours later she went on annual leave until the end of next week - very frustrating but its not her fault, she has been waiting on the bank for weeks. I believe that she has at least got the ball rolling on a lot of the checks

The builder needs 8 weeks to fit out the house after contracts are signed. Hopefully the conveyancing process will move very quickly as soon as our solicitor is back. She has already done the legal work for several properties in this development and has a good relationship with the developers lawyer and the estate agent. We are currently renting privately and have a somewhat hard deadline so we are very keen to finish the legal work asap.

We have already met with all of the vendors and have picked out our turnkey package, we will be ready to place the orders as soon as the legal work has finished. I feel very frustrated, our experience with the bank had been very positive and efficient at branch level, but everyone got held up as soon as their head office had to put a form in the post.

Kalimero82

Buyer_K wrote: »

Try this on for size:

27/02 Sale agreed
01/03 Solicitors instructed
15/03 Mortgage offer received
24/04 Contract report sent for signing
24/04 Enquiries report comes back with 3 enquiries answered out of 22

Enquiries remain unanswered

21/08 First answers from sellers solicitors since April come through.

Enquiries and responses sent back and forth

10/09 Mortgage offer expires.

:eek: Please tell me you found a remedy to stay sane! I would have been a bag of nerves by now!

St_95

chunkytfg wrote: »

Worth speaking to your solicitor about the mortgage date(please tell me you're not using the recommended one by the developer?)

The last thing you need is for you to exchange and then your mortgage offer runs out before you get to complete.

Luckily we have received notification the house is plastered and we are into the final stages. The anticipated CML date is mid Nov with a completion pencilled for the last Friday in Nov.

And no, we are using a solicitor recommended by close friends