The NEW waiting to exchange thread...

Squirrelz92

Almost home and dry but with a massive blow to ruin the excitement also
The deed of variation draft contract has finally come through from the local housing office so my solicitor just needs to read it and get relevant parties to sign before I can go ahead and organise and simultaneous exchange/completion date. 
The sad part however is that I was subject to a very sophisticated phishing fraud scheme and my bank account was emptied of just under £5500. Absolutely distraught as more than half of that money was to pay for my conveyancing and the rest of my deposit Thank the lord I have just enough savings in my ISA to cover it once again but bang goes any planned renovations  
Bitter sweet. Fingers crossed my bank will refund me the money as it is currently under investigation.

TWIGLET1234

Went to exchange Friday to be informed by solicitor vendor not ready as has only just started their related purchase (actually bought with no forward chain so quite a surprise!) Sent email to EA to enquire as to what is going on, and was told we can exchange asap and complete by 31 July as the purchase is not "related" Still no exchange as of today as vendor solicitor is saying they aren't ready but EA insists the vendor is ready and is moving all her things to storage on 31 July and that there is some confusion in communication! We need to exchange by this Friday in order to complete on 31 July. I despair!!!

KPyro

Squirrelz92 said:
Almost home and dry but with a massive blow to ruin the excitement also The deed of variation draft contract has finally come through from the local housing office so my solicitor just needs to read it and get relevant parties to sign before I can go ahead and organise and simultaneous exchange/completion date. 
The sad part however is that I was subject to a very sophisticated phishing fraud scheme and my bank account was emptied of just under £5500. Absolutely distraught as more than half of that money was to pay for my conveyancing and the rest of my deposit Thank the lord I have just enough savings in my ISA to cover it once again but bang goes any planned renovations  
Bitter sweet. Fingers crossed my bank will refund me the money as it is currently under investigation.

Oh what horrid news!!!

nicolamj23

Hi!
I am a first time buyer and placed my mortgage application with Accord on the 24th June. I had already had an agreement in principle from them prior to this. 

We still haven’t been told our application is successful and every time we ask about it we’re told it is with an underwriter awaiting decision. Additional information has been submitted to the underwriters on several occasions but we are still in limbo.
Our valuation was completed a couple of days after the application was submitted. 

Should I be concerned that my application may be rejected. Me and my partner have excellent credit scores and have a 15% deposit. I am starting a new job in September but they knew about this at the agreement in principle stage so nothing has changed. 

We’re just a bit worried about how long it’s taking and were wondering if anybody else has been successful after a long wait from Accord. 

(Apologies, I posted this in a separate thread but realise this is probably the right place.)

KPyro

We are getting worried that our vendor is dragging feet, or that she's just got a pants solicitor.

18th March: Offer accepted
18th May: Mortgage confirmed (we were a bit slow getting our docs in because we knew our vendor hadn't found a house and couldn't house hunt in lockdown)
22nd May: Stuff finally started moving, vendor found house, EA issued memorandum of sale
27th May: we had our HB survey done with very few worries except raising the question of whether docs were available for the extension
30th June: Finally got property information back from vendors (turned out that delay was their solicitors failing to zip the documents when trying to email them so the file sizes were too big!) - solicitor issued some questions regarding the extension
15th July: Got searches back

Now chasing EA to find out what else is happening further up the chain and why we're still waiting on answers to questions.
So frustrating when we're FTB and ready to go! 

Squirrelz92

KPyro said:

Oh what horrid news!!!

It's beyong awful. Sooo much stress, anxiety and paranoia has come from it. I don't trust speaking to anyone. It's dented my confidence massively. Having to work out a completion date that will not screw me up entirely money wise and that leaves extra time for the bank to hopefully reimburse me. 

Hannimal

I'm a first time buyer (hopefully soon)
11/07 offer accepted (EEK)
13/07 AIP
13/07 instructed the solicitor 
14/07 mortgage application submitted

Now I just wait, I guess. I've sent a lot of paperwork off to the solicitor and mortgage adviser. I am not even sure what happens next

Lancs1234

nicolamj23 said:

Hi!
I am a first time buyer and placed my mortgage application with Accord on the 24th June. I had already had an agreement in principle from them prior to this. 

We still haven’t been told our application is successful and every time we ask about it we’re told it is with an underwriter awaiting decision. Additional information has been submitted to the underwriters on several occasions but we are still in limbo.
Our valuation was completed a couple of days after the application was submitted. 

Should I be concerned that my application may be rejected. Me and my partner have excellent credit scores and have a 15% deposit. I am starting a new job in September but they knew about this at the agreement in principle stage so nothing has changed. 

We’re just a bit worried about how long it’s taking and were wondering if anybody else has been successful after a long wait from Accord. 

(Apologies, I posted this in a separate thread but realise this is probably the right place.)

Hi, we placed ours in with accord on the 15th June. Ours hasn't been straightforward due to issues with my partners overtime (NHS bank so there were questions as to whether to class it as overtime or 0 hours contract). But we are now agreed subject to valuation and we are hoping to hear back today or this week. They were given access to the property to carry out a valuation on 18th June however with the issues they said that they suspended this and didn't do the valuation (they were definitely given access by the estate agent so we're still trying to work that one out). But sit tight, from what I can gather they've allowed far too many applications for what they can handle so everything is taking such a long time! Good luck!

Jamaicanmelaff

Gonna join this thread now I'm done stalking the mortgage and endowments page! Sorry, it's gonna be a really long one cos I'm a pre-lockdown case and there've been a few hiccups along the way.

• 7th and 10th March viewed property
• 12th March offer accepted
• 18th March met with first broker to go through application - I was naive and was using an estate agent broker. Lockdown seemed to be looming but he assured me that if it did occur, he would have all my documents etc at home and would continue working on my case. As income has increased over last 3 years, advised me to submit my 2019/20 tax return on 6th April and he would include my income for that year as by the time the application was reviewed I'd have my SA302 and tax year overview to prove it, so to send those through in April.
• 8th April sent broker SA302 and tax year overview for 2019/20. Got a brief thanks, will submit back.
• 15th April chased broker as not heard anything at all. Got an auto reply saying he was furloughed.
• 29th April - after 2 weeks spent chasing the company my broker worked for and being given the run around, finally got hold of someone who confirmed my application was never submitted in the first place. Fired them, obviously, requested back my "payable on application" fee be refunded - received a month later.
• 30th April - had a phone consultation with L&C to go through all my circumstances etc. Advised with the current climate and being self-employed it would help massively to increase my deposit to 20% if possible. It was, but I wouldn't have full amount until the 15th May.
• 1st May - application submitted to HSBC. HSBC said they required the full proof of deposit so to wait to submit all docs until I had my next bank statements.
• 4th June - documents submitted to HSBC.
• 8th June - additional docs requested by HSBC due to self-employment and Covid income checks.
• 6th July - HSBC said the underwriters were assessing and that hopefully by Fri 10th would have either another request for docs/info or instruct valuation.
• 13th July - HSBC advised underwriters were assessing and that hopefully by Fri 17th they'd either request more docs or instruct valuation. L&C queried why the update was identical to a week before and why there had been such long delays. Told it was now with senior underwriters and all previous delays had been due to issues with the HSBC legacy portal (foreign income) and the docs they'd said were in the queue for 4 weeks had actually been on the portal unnoticed and not in any queue (despite L&C also emailing them). L&C escalated case and asked BDM to instruct valuation immediately.
• 13th July - also received results of damp report that had been instructed before lockdown but unable to proceed. No major issues - YAY!
• 16th July - Mortgage offer received.
• 17th July - instructed solicitor to begin searches and booked homebuyer's report for 31st July.

And that's it so far. PHEW. So glad that my seller is unbelievably patient. Everyone who speaks to her tells me how lovely she is. This would've been even more stressful if she'd been putting pressure on too.

Hannimal

Have I done a stupid in that I've instructed my solicitor before I have a mortgage agreement? I am quite worried now seeing others have waited.