The NEW waiting to exchange thread...

MrsGreen0872

I am waiting for an official mortgage offer from the Leeds Building society - had the MIP 6 weeks ago. Am I right in thinking that this is a really, really long time(going by your timelines on here I think it is!)

The broker said no news is good news? Buy the vendors are chasing us.

zesh90x

Well well well.... joining the fun too here:

02/09 - Property viewed
02/09 - Offer made
05/09 - Offer accepted post negotiations
05/09 - Broker engaged to send application for mortgage
06/09 - Conveyancer instructed (Asked to hold off on searches)
10/09 - Application submitted for Mortgage
23/09 - Mortgage Broker turned out useless, didn't do their research and turns out lender in line with their policy do not offer a mortgage of the size we are after, therefore we left it at that.
____________________

23/09 - New broker found (Resides on this forum and he's AWESOME!)
24/09 - Got a Decision in Principle
24/09 - Full Application submitted.
24/09 - Valuation instructed by lender for 30th September.
25/09 - Minimum document requirements fulfilled. (payslips, bank statements, proof of deposit etc.).
26/09 - Realised conveyancer was not on lender panel, broker has resolved this.
2/10 - Mortgage Offer Received
2/10 - Solicitor told to go ahead with Searches + All paperwork sent by Solicitor completed and sent back by post
10/10 - All searches cleared..... solicitor has sent some inquiries to Seller's solicitor, awaiting response....

The WAIT continues....

smdabs

Joining in the fun...! (Hopefully to keep me sane)


My Purchase:
08/07/19: 1st Viewing
11/07/19: Offer made and accepted:
12/07/2019: Broker & Solicitor Appointed
16/07/19: Docs provided and submitted
19/07/19: Valuation completed
23/07/19: Mortgage Approved and offer received
23/08/19 & 04/09/19: Chaser email from my solicitor to sellers sols
07/10/19: Confirmation received that all searches returned, and enquiries responded to. Now to wait for my sale.




My Sale:
11/07/19: Marketed
12/07/19 - 08/08/19: Viewings (circa 8 viewings in this time, no offers)
12/08/19: Changed Estate Agents (Originally PB... remind me not to use them in this market again!)
19/08/19: New Advert went live
24/08/19: Viewings x 7 - no offers
31/08/19: Viewings x5
02/02/19: 2 Offers Received. 1 from cash buyer, accepted (after some negotiation)
05/09/19: Buyer pulled out as decided didn't want to risk buying a house with historic subsidence (despite being informed of it during the viewing, and having seen the structural report confirming house is fine and subsidence was historic and fully rectified)
06/09/19: EA received phone call from other person who made offer. Managed to match the previous offer so offer now accepted. FTB and ready to proceed, Agreement in Principle in place.
06/09-24/09/19: No updates provided - chased EA numerous times to understand where we are
24/09/19: Buyer has requested 2nd viewing - agreed.
25/09/19: Second viewing takes place.
02/10: Buyers mortgage appointment - full application submitted


As of today... still waiting to hear from the lender re booking in a survey...


My sellers really want to get cracking... they initially wanted to be moved by end of October but clearly that is a complete no-go now! I'm updating them regularly so they know I am ready to get cracking... just waiting for the buyer to pull their finger out, so stressful waiting and I hate that there's nothing I can do!


I'm just hoping my sellers stick with me and don't try and re-market the house... I found my dream home and just want to be in there asap!

atinybrit

We did it!
Offer placed August 12th
Exchanged October 7th!

Exchange set back by a week due to some problems with the seller's property (that they are buying) but now all sorted, also had some issues reaching my conveyancer and their solicitors for pretty much no reason...
Completing on Oct 22nd.

Then to plan a wedding!

ShelboBaggins

atinybrit wrote: »

We did it!
Offer placed August 12th
Exchanged October 7th!

Exchange set back by a week due to some problems with the seller's property (that they are buying) but now all sorted, also had some issues reaching my conveyancer and their solicitors for pretty much no reason...
Completing on Oct 22nd.

Then to plan a wedding!

Congrats - wedding planning next on my list too lol. Baby - house - wedding - I think I'm crazy but I'm on maternity leave and need the challenge (as if a baby isn't enough!!).

welwynrose

Has anyone else experienced what seems a long between accepting an offer and the buyers getting the surveys done - we accepted an offer on our house on 03/09 they had the mortgage valuation done on 27/09 & we’ve got the house buyers survey being done on on Friday

We’re waiting on confirmation of their funds to proceed with our purchase just feel we’re in limbo a bit

zesh90x

atinybrit wrote: »

We did it!
Offer placed August 12th
Exchanged October 7th!

Exchange set back by a week due to some problems with the seller's property (that they are buying) but now all sorted, also had some issues reaching my conveyancer and their solicitors for pretty much no reason...
Completing on Oct 22nd.

Then to plan a wedding!

Congrats buddy, your timeline feels very similar to mine, so here's hoping for a similar result. Sellers solicitor reckon a completion date of 1st week of November, end of October seems likely.

Halfie

We’ve spoken to solicitors today - everything is in place except a couple of questions for the mortgage lender which they’re dealing with tomorrow. they’re writing our report tomorrow to be sent out and should be with us Saturday. Once they have our bits back we’ll be setting exchange and completion date eeeeek!

Sammy_J

ShelboBaggins wrote: »

Congratulations SammyJ, that's a fairly swift timeline even though you didn't exchange as early as you'd hoped, my FTB took 6 months but we ended up in a large chain with families who were only prepared to move during school holidays, initially aimed for the 6 week hols in summer and then my solicitor became gravely ill and had to close his practice just as we were all ready to exchange! I had to find a new solicitor and get my searches redone :eek: then later claim back the money I'd paid to original solicitor through Law Society, we ended up exchanging/completing in the Oct half term but I was so lucky the whole chain didn't collapse. Despite it taking 6 months again this time, having gone through what I did first time around I'm completely relaxed and chilled even with a newborn baby in tow.

We have our movers coming in this morning to do our packing and then moving tomorrow. Hoping it won't be too hectic but have my cousin coming to help me with little one. Good luck with your move next week and congratulations on owning your first home.:beer:

Thanks Shelbo! You’re right, 3 months in total is actually quite good going I think. It just felt agonising towards the end as the only thing delaying us for the last three weeks or so was the sale of houses not actually in a direct chain with us.

We were so desperate to get into the house as we need to order furniture (we only have a bed) and didn’t want to miss the last order dates for Christmas delivery to get a sofa. Looks like we’ll just about have enough time left when we get in next week!

Hope your packing went well today and that tomorrow is fun, if that’s the right word for it! Make sure you keep your kettle separate!

Sammy_J

MrsGreen0872 wrote: »

I am waiting for an official mortgage offer from the Leeds Building society - had the MIP 6 weeks ago. Am I right in thinking that this is a really, really long time(going by your timelines on here I think it is!)

The broker said no news is good news? Buy the vendors are chasing us.

I think the timings depend on the lender you’re using and each individual’s personal circumstances.

It may be helpful to take a look on the ‘Awaiting a mortgage decision’ thread on the mortgages board as I think there are more examples on there from those who have had to wait a little longer.

It’s this thread: https://forums.moneysavingexpert.com/discussion/4711931/anyone-want-to-join-me-awaiting-mortgage-decision&page=451