The NEW waiting to exchange thread...

Wkmg

Think we're nearly there. Last 8 weeks have flown by!

18th May House put on Market
19th May 5 people look round, 1 ridiculously low offer
20th May 1 full asking price offer accepted
21st of May our offer accepted by our vendor
24th May Solicitor instructed
24th May AIP issued
1st June Survey completed on house we're buying, no deal breakers found
5th June Mortgage offer received
18th June Survey completed on house we're selling, apparently no deal breakers
7th July and I'm told all enquiries have been satisfactorily responded to by all parties, legal work is complete
8th July unexpected £15,000 tax reduction!

Now just negotiating exchange and complete dates. No big problems along the way so far. Fingers crossed no big hiccoughs.

SadeRose

Thought I would also join.
I first saw and put in an offer for my new build property in November( small private developer). Due to the Christmas holidays and travelling abroad we did not submit our mortgage application until the end of January.

Time line:
Feb 2020 - Solicitors instructed, draft contracts sent to us 
April 2020 - Mortgage offer finally issued!!!
June 2020 - Part response to queries received from sellers solicitors.

Found out there is a planning condition still waiting to be discharged at the planning office, after paying for searches, valuation and snagging report (bear in mind this new build property has been ready since November when we first viewed it)
Been chasing every one daily as moving from London to Kent and already paid for daughters new school fees.
Really stressful and frustrating time as we were assured as FTB we would have no issues. EA kept pushing us when our mortgage offer had not yet been issued thinking we would have exchanged contracts and completed by now 😢 Deposit has been with conveyancer since May thinking we would have exchanged by the end of May. 

SadeRose

I have however saved 10k on stamp duty - just trying to remain positive, developer assured me we will have completed by the second week of August at the latest. My conveyancer said we would do a simultaneous exchange and completion.
I will definitely not be in a rush to purchase another house once I’ve completed on this one. 

Abbiejo

We're also waiting to exchange.

08/05- View house
11/05- Put in offer
15/05- Offer Accepted
22/05- solicitors instructed
27/05- Draft contract received
04/06- Mortgage offer issued 
29/06- Enquiries sent (don't Know why it took so long from when they received the draft contracts) 
30/06- contracts sent to be signed 
03/07- Searches all received
03/07- More enquires sent
06/07- signed contract and all paperwork sent back 
10/07- another set of enquires sent 

Now, I don't know how much I have to chase my convayancer. We're first time buyers and the seller is moving into an empty property. We've asked multiple times for them to speak to his solicitors to see where he is in his process and to give us a rough time scale but never will. Also, every time they receive any replies to enquires they send it takes them a week to look at them, even though the sellers convayancer reply within the day.  They messed up our invoice and tried to charge us £1k more by taking it off our mortgage, saying it was our arrangement fee, which we have added onto our term, as is clearly listed on our paper work. And when i questioned it was made to believe I was the one in the wrong. We are being given no support what so ever and feel like we could still be a million miles from exchange at the rate they're going, and when we ask their advice or a question they give us no answer just give a 3 paragraph email to basically say we don't know. our estate agent is now getting involved as we're so unhappy with their service.

adierei

Time to join here too Our timeline is:

08/06 view house
10/06 second viewing and offer
11/06 mortgage application 
07/07 mortgage offer received 

We are FTB and have some of our deposit in shares so need to wait until 01/08 to exchange (just to avoid tax on a portion of our shares). Even though this is the case I am still feeling very impatient 🤣

Our solicitors use an online portal so we can check progress but it’s really sparse and doesn’t give much detail so feeling in the dark. Our survey has also been delayed until 30/07 even though we booked it right at the start. 

So in a nutshell, I am being very spoiled and want everything in line ready to exchange, but have the exchange delayed enough to withdraw our shares without penalty 🤣

marylou88

After 7 weeks of waiting the vendors solicitor has not sent draft contracts.
Everything on my side is ready to go.
So frustrating when they mentioned a no chain fast sale 

kasqueak

marylou88 said:

After 7 weeks of waiting the vendors solicitor has not sent draft contracts.
Everything on my side is ready to go.
So frustrating when they mentioned a no chain fast sale 

Same here. The sellers said they wanted a quick sale and 6 weeks later they still haven’t done the draft contracts or filled in the forms. So frustrating isn’t it! 

Catwales

Catwales said:

Getting close now
Viewed property13/2 & 17/2
Offer accepted 19/2
Instructed solicitor but advised not to start anything until had mortgage offer through 21/2
Mortgage appt 26/2
Bank Valuation & homebuyer survey 09/3
Mortgage offer received 10/3
Received mortgage report and deed off solicitors 18/3
Search of register 8/4
Personal searches appt 20/5
Results of searches 12/6
Contracts received for signing 29/6 
Final house viewing before setting dates to ensure no issues with house after being empty for 5 months 6/7
Fingers crossed for tomorrow..... 😁🤞

Exchange/completion date set for Monday 20th🤞🤞🤞🤞

fackers_2

Self employed here and applied with Halifax via Broker.

20th June - MIP

22nd June - Income documents submitted along with Mortgage APP

26th June - Underwriters rejected PDF SA302 and requested scanned copies of the printed version (no difference at all).

27th June - Submitted newly requested versions

9th July - Valuation Instructed

16th July - Valuation and survey

16th July - Mortgage approved

I’m just waiting for the HB Report to come back tomorrow but been told that he’d call if there was anything to be aware of. House is great condition so I don’t expect anything at all to be flagged. Not sure how long it now takes to get to exchange? I’ll be signing the contract (not dated) and sending over the deposit tomorrow so that the Solicitor has it ready.

Wkmg

Wkmg said:

Think we're nearly there. Last 8 weeks have flown by!

18th May House put on Market
19th May 5 people look round, 1 ridiculously low offer
20th May 1 full asking price offer accepted
21st of May our offer accepted by our vendor
24th May Solicitor instructed
24th May AIP issued
1st June Survey completed on house we're buying, no deal breakers found
5th June Mortgage offer received
18th June Survey completed on house we're selling, apparently no deal breakers
7th July and I'm told all enquiries have been satisfactorily responded to by all parties, legal work is complete
8th July unexpected £15,000 tax reduction!

Now just negotiating exchange and complete dates. No big problems along the way so far. Fingers crossed no big hiccoughs.

Should be exchanging today! Getting leave isn’t impossible so completion date is for 17th of August. Not worried about risk of lockdown as moving into a vacant house and I’ll move us on my own if I have to!