The NEW waiting to exchange thread...

Halfie

Halfie wrote: »

So we were hoping to exchange today to complete 1st November but the Lenders Solicitors are asking for additional clarification on queries grrrrrr!!!! Solicitors answered via email but they wanted some in hard copy through the post!! !!!!!!? There's one around subsidence where they need confirmation and in addition they won't proceed without the installation certificate for the boiler which the vendors don't have as it's a probate property. We couldn't care less as partner is a gas safe engineer and we will be moving the boiler in the springtime but the lenders absolutely must have it so now we need vendors to have indemnity insurance.... :wall::wall::wall:

We have progress!! Our solicitor now has the vendors indemnity insurance which they are just checking before forwarding to Lenders Solicitors (who have been very "thorough"!). If this is acceptable to them and they, our buyers and our vendors agree, we can exchange and set completion as 8th November!! Pray for us!! haha

Bluntman_1983

Bluntman_1983 wrote: »

Posting timeline to help ease my stress!

9 Feb 2019 - Valuations on our current place
16 Feb 2019 - Current property listed
17 Feb - 8 Jul - Many viewings and 3 offers rejected! Held the same asking price but decided we would accept less.
9 Jul - Accepted an offer on ours - a little under asking price but after 5 months who's counting?
9 Jul - Made offer on house we had viewed a couple of times and loved.
10 July - Offer rejected, upped offer and was accepted @ a little under bottom of asking price range. Happy days!
10 July - Solicitor instructed (already had instructions for our sale)
16 July - Baby #2 arrives in good health to add to 2 year old already bouncing off walls in our cottage!
19 July - Obtained updated EPC for our property as old one was expiring in September!
22 July - Mortgage offer received - very quick process (including valuation survey)
15 August - All searches on our purchase returned
20 August - Full building survey on our purchase - no major issues
By 31 August - All inquiries on our purchase answered. Seller buying a new build and wants completion by 30 September. But...
1 Sep - Now: Our buyers have had multiple queries (all answered) but all gone a little quiet. They are selling a flat to a 1st time buyer but we're not sure where the delay is....

So... Stress waiting! Aiming for completion on 4 October but no idea if that works for our buyers or their buyers so have asked solicitors and EA to find out where everyone is at. No fun when you can't do much about it! We are V V ready to move!

Still waiting to exchange. Turns out our buyer's solicitor hadn't sent management pack for her sale (leasehold flat) until earlier this month. Queries back from her buyer's solicitor and apparently answered but now her solicitor isn't answering calls/emails.

Got my solicitor and estate agent chasing our buyer and her solicitor, whilst at the same time trying to reassure our vendor that we will make progress - she's already missed out on a new build that she needed to complete on by 30 September and apparently has chosen a property to rent but we are worried that if she loses that then she'll get fed up!

Fingers crossed for exchange this week so we can get on with it!

Crumble2018

Halfie wrote: »

We have progress!! Our solicitor now has the vendors indemnity insurance which they are just checking before forwarding to Lenders Solicitors (who have been very "thorough"!). If this is acceptable to them and they, our buyers and our vendors agree, we can exchange and set completion as 8th November!! Pray for us!! haha

Fingers crossed for you!

Sj8

4-6 weeks for a mortgage offer from Barclays, we have waited 5 weeks for the same thing... and news hasnt yet reached the solicitor almost half way through the 5th week.

This is our buyers mortgage. It lost us our potenitial purchase the whole delay.

May be able to claw it back if solicitors pull their finger out.

Sj8

Good luck halfie

lepetitmanoir

Joining this thread to try and save my sanity at this stage.

Ours is a short and sweet chain, for many reasons we needed to complete by the end of October. That's now out the window :wall:

Below is a simplified version of our timeline, I feel like I shouldn't share the ugly detail (don't want to be recognised!)

21/07 We accept an offer from the freeholder on our leasehold flat. It's low but we hope for an easier transaction this way.

05/08 Our offer on a house is accepted.

09/08 Our buyer pulls out

12/08 Put our place on market with estate agent.

16/08 We accept an offer from a FTB, viewings continue as they need to get their AIP. We get more offers, but stick with FTB as they seem the most serious and we hope they'll be quicker.

23/08 Go to broker and apply for mortgage, pay for valuation survey.

28/08 We get mortgage offer. It was so quick! Over a bank holiday too.

*we have buildings survey on house. Nothing unexpected but there is urgent work needed. Need to complete asap*

*we spend roughly a month chasing forms for our solicitors*

02/10 Finally receive our paperwork and contracts to sign ready.

03/10 Spend 2 weeks trying to sort an issue with the freeholder.

21/10 Fully expected to exchange this week and complete on 31st. Unfortunately not, as there is now an issue with our buyers mortgage. Paperwork goes missing and has to be re done. Their solicitor says no chance of completing by new date of the 5th Nov

So we continue to live in limbo. As a family we've outgrown our flat (kids were tiny when we moved in) , day to day life is just uncomfortable now. We've spent roughly a year preparing for this move in one way or another.

NurseNelly

9/9 first contact with mortgage advisor. DIP produced (fainted. I only called to make general enquiries for the future)
20/9 1st viewing on chosen property
23/9 2nd viewing
24/9 offer made and accepted
26/9 All requested documents sent to advisor and full application made
2/10 Request for additional info from lender.
8/10 More queries from lender.
11/10 Query from Lender saying my income on payslips calculates as over 20k more than I had declared on application? (Not sure why I would have hid that) phonecall to discuss that and all sorted, just a miscalculation. Also a phonecall from advisor saying they might want additional 3k deposit as I had undisclosed credit cards. (They were on my credit file and I definitely mentioned them!) however the advisor had asked that surveys are withheld until underwriters happy with application and willing to offer. They have now said offer is pending valuation. I called to pay extra for homebuyers survey this morning and they’ve been instructed.
14/10 Valuation back at asking price. Homebuyers report due in a few days.
18/10 Mortgage offer received!! Anxiety over! (For now!) Also received homebuyers report which had very few issues, just a worry over lack of dropped kerb, not an issue to me unless it turns out permission has previously been applied for and declined as I worry that would put off a future buyer. Will raise that with the solicitor tomorrow. Will be getting gas and electrics checked and also a HETAS engineer to check the log burning stove as this was put in by the owner who’s a builder, and work not checked by HETAS. I expected this to be raised as more of an issue on the survey but it just recommended having the chimney/glue swept. I’m getting it fully checked for my peace of mind and will be excavating the inglenook a bit further for aesthetic reasons anyway, it’s fitted in to a fairly tight gap.

Pleasantly surprised at how quickly and easily this is going for me so far!

Solicitor received draft copies of contracts last week, has raised one enquiry about a part of the title deed he didn’t receive, but doesn’t expect this to be a problem. He estimates exchange in 2-3 weeks. Just waiting to hear back from the solicitor about the plans for my seller who’s moving in to rented (permanently). I was thinking anything before Christmas was a bonus, end of November completion will work perfectly for me so I’ll have another salary under my belt and have a good few weeks to clean and decorate before christmas!

thatoldchestnut

We’re first time buyers who went to see the flat we’re buying on 20th July. Still waiting to exchange which I feel is partly our fault for not knowing how things work properly. All relatively smooth sailing until mortgage adviser said that the lender would do a survey and I took it that this would be a structural survey. I waited for the results and it wasn’t until about a week or so after it took place that the mortgage adviser said that the lender doesn’t normally send these things out that I realised my misunderstanding.

Decided to do a structural survey - the mortgage adviser seemed to think it was a bit unusual that I should want one done, which was itself a little puzzling. It’s only the most significant purchase I’ll ever make in my life, mate. Anyway, that was mostly fine apart from some electrical stuff which absolutely needs doing but which we agreed to bear the cost of to speed things up.

The last month or so we’ve been waiting for our solicitors to be happy with various queries, which they finally were by the end of last week, so sent us stuff to sign ready for exchange. On Monday we discovered that because our deposits are in Skipton LISAs, it was going to take up to 30 days (hopefully sooner) to get the money from our account to our solicitors. The mortgage adviser, who I should’ve stopped asking for advice some time ago I now realise, said we’d be able to just tell Skipton we needed the money for our deposit, and they’d send it to me. Not only that, but that I could use the interest that’s now built up in there to put towards conveyancing fees, and that Skipton wouldn’t need to know. Needless to say neither of these things are the case.

So, now we’re waiting for our deposits to arrive and for solicitors to agree dates. It’s been a trying, stressful process up to now, doubly so since I work full time in a busy public facing role in a building with no phone reception, which means I get to receive worrying voicemails from one party or another asking me to call them urgently, hours after they tried to ring me. I’ve taken to keeping the estate agent up to date whenever anything happens because I prefer it to her ringing me in an attempt to wind me up about why X, Y or Z hasn’t happened yet. I am calling my solicitors every day too in the hope they get sick of me and decide to push things through more quickly. Fingers crossed.

I am not looking forward to doing this again if we have a chain to deal with

hmd1987

finally the buyers mortgage is through!!!!

fingers crossed we can get an exchange date and completion date now!!:beer:

lepetitmanoir

There has been talk of exchanging today and completing next Friday.

I'm taking it with a pinch of salt, last I heard our buyers solicitor was still waiting for documents from their mortgage provider.. (something that has gone missing once or twice already)

We've been here before!