The NEW waiting to exchange thread...

happysellerbuyer

You should ask your solicitor 

croag

Still just waiting for enquiries to come back... it's been a month or so. I really would like to exchange before end of sept so I can give my rent notice in and not lose another month of rent...

Jamaicanmelaff

shaunad93 said:

hannah2283 said:

shaunad93 said:

Hi! FTB here and usual lurker. My offer was accepted 7 weeks ago now and I had hoped that some time in September I’d be a home owner but I learned from the solicitor yesterday that the sellers are still waiting on a mortgage offer for the house their buying (which is empty) so no chain further up than them. 

I know 7 weeks is nothing compared to some post but I’m a little fed up now. Solicitor took 4 weeks from me handing in my paperwork to realise they had photocopied a travel visa in my passport rather than the main page, also took 4 weeks to request searches which luckily are now back and all ok. 

Everything my end is kind of good to go (or so I believe, FTB so putting faith in the solicitor) so it’s frustrating having to wait for other people. I’m also mindful that I have a Help to Buy ISA. Does anyone know at what stage the solicitor will request my funds from that account and then how long from request to it being with my solicitor takes? 

For the H2B ISA yesterday I closed the account with nationwide, I’ll get sent a closing statement and then send that to my solicitor who will request the funds. 

Thanks! Mine is a lifetime ISA (obviously wasn’t paying attention when typing my original post), so wonder if it’s the same process. I wasn’t even aware I had to close the account!

You don’t close the account yourself for the Lifetime ISA. It works differently to the HTB ISA. You fill in a form and give it to your solicitor. Your solicitor then fills in a form to request the funds from the bank/BS. The bank/BS will send you a confirmation form to sign and approve and they’ll authorise the release of funds within 30 days. Do not close it yourself, you’ll lose your bonus and some of your own money.  

Arghbloodyhouse

Jamaicanmelaff said:

shaunad93 said:

hannah2283 said:

shaunad93 said:

Hi! FTB here and usual lurker. My offer was accepted 7 weeks ago now and I had hoped that some time in September I’d be a home owner but I learned from the solicitor yesterday that the sellers are still waiting on a mortgage offer for the house their buying (which is empty) so no chain further up than them. 

I know 7 weeks is nothing compared to some post but I’m a little fed up now. Solicitor took 4 weeks from me handing in my paperwork to realise they had photocopied a travel visa in my passport rather than the main page, also took 4 weeks to request searches which luckily are now back and all ok. 

Everything my end is kind of good to go (or so I believe, FTB so putting faith in the solicitor) so it’s frustrating having to wait for other people. I’m also mindful that I have a Help to Buy ISA. Does anyone know at what stage the solicitor will request my funds from that account and then how long from request to it being with my solicitor takes? 

For the H2B ISA yesterday I closed the account with nationwide, I’ll get sent a closing statement and then send that to my solicitor who will request the funds. 

Thanks! Mine is a lifetime ISA (obviously wasn’t paying attention when typing my original post), so wonder if it’s the same process. I wasn’t even aware I had to close the account!

You don’t close the account yourself for the Lifetime ISA. It works differently to the HTB ISA. You fill in a form and give it to your solicitor. Your solicitor then fills in a form to request the funds from the bank/BS. The bank/BS will send you a confirmation form to sign and approve and they’ll authorise the release of funds within 30 days. Do not close it yourself, you’ll lose your bonus and some of your own money.  

What happens if there is more money in the Lisa than required for the deposit? Do they refund you straight to your bank account? 

Jamaicanmelaff

Arghbloodyhouse said:

Jamaicanmelaff said:

shaunad93 said:

hannah2283 said:

shaunad93 said:

Hi! FTB here and usual lurker. My offer was accepted 7 weeks ago now and I had hoped that some time in September I’d be a home owner but I learned from the solicitor yesterday that the sellers are still waiting on a mortgage offer for the house their buying (which is empty) so no chain further up than them. 

I know 7 weeks is nothing compared to some post but I’m a little fed up now. Solicitor took 4 weeks from me handing in my paperwork to realise they had photocopied a travel visa in my passport rather than the main page, also took 4 weeks to request searches which luckily are now back and all ok. 

Everything my end is kind of good to go (or so I believe, FTB so putting faith in the solicitor) so it’s frustrating having to wait for other people. I’m also mindful that I have a Help to Buy ISA. Does anyone know at what stage the solicitor will request my funds from that account and then how long from request to it being with my solicitor takes? 

For the H2B ISA yesterday I closed the account with nationwide, I’ll get sent a closing statement and then send that to my solicitor who will request the funds. 

Thanks! Mine is a lifetime ISA (obviously wasn’t paying attention when typing my original post), so wonder if it’s the same process. I wasn’t even aware I had to close the account!

You don’t close the account yourself for the Lifetime ISA. It works differently to the HTB ISA. You fill in a form and give it to your solicitor. Your solicitor then fills in a form to request the funds from the bank/BS. The bank/BS will send you a confirmation form to sign and approve and they’ll authorise the release of funds within 30 days. Do not close it yourself, you’ll lose your bonus and some of your own money.  

What happens if there is more money in the Lisa than required for the deposit? Do they refund you straight to your bank account? 

I’m not sure tbh. I haven’t had mine requested by the solicitor yet. There may be a way on the form to only request some or something or for the solicitor to refund the rest. Best to check with your solicitor I think, I just didn’t want anyone rushing off the close their LISA thinking the process was the same as the HTB. 

hannah2283

My seller’s solicitor won’t speak to my solicitor about a completion date until my updated mortgage offer is received (it’s been agreed and issued, I just haven’t had it in the post yet), my solicitor still thinks it doable to complete week commencing 21st September as long as we get it in the post next week. Don’t understand why the seller’s solicitor won’t talk about it. Everything is pretty much ready to go otherwise. 

Hygieia

Hello! Long time lurker of the forum, now officially waiting to exchange!

I'm a FTB, my partner previously owned and subsequently sold a house.

Offer accepted 27/06/2020

First survey (Mortgage) 08/09/2020

Awaiting vendor to find somewhere to buy, we're willing to be patient as its a gorgeous house but I am starting to get about ansty about the thought of not being in by Christmas!

I have two worries; the first is that the vendor might pull out if she can't find anywhere (been looking for a month and a bit now, not sure what she's looking for!), and secondly I anticipate the survey might come back less than our offer as we ended up in a bit of a bidding war as the house was so popular.

Fingers crossed...

shaunad93

Jamaicanmelaff said:

Arghbloodyhouse said:

Jamaicanmelaff said:

shaunad93 said:

hannah2283 said:

shaunad93 said:

Hi! FTB here and usual lurker. My offer was accepted 7 weeks ago now and I had hoped that some time in September I’d be a home owner but I learned from the solicitor yesterday that the sellers are still waiting on a mortgage offer for the house their buying (which is empty) so no chain further up than them. 

I know 7 weeks is nothing compared to some post but I’m a little fed up now. Solicitor took 4 weeks from me handing in my paperwork to realise they had photocopied a travel visa in my passport rather than the main page, also took 4 weeks to request searches which luckily are now back and all ok. 

Everything my end is kind of good to go (or so I believe, FTB so putting faith in the solicitor) so it’s frustrating having to wait for other people. I’m also mindful that I have a Help to Buy ISA. Does anyone know at what stage the solicitor will request my funds from that account and then how long from request to it being with my solicitor takes? 

For the H2B ISA yesterday I closed the account with nationwide, I’ll get sent a closing statement and then send that to my solicitor who will request the funds. 

Thanks! Mine is a lifetime ISA (obviously wasn’t paying attention when typing my original post), so wonder if it’s the same process. I wasn’t even aware I had to close the account!

You don’t close the account yourself for the Lifetime ISA. It works differently to the HTB ISA. You fill in a form and give it to your solicitor. Your solicitor then fills in a form to request the funds from the bank/BS. The bank/BS will send you a confirmation form to sign and approve and they’ll authorise the release of funds within 30 days. Do not close it yourself, you’ll lose your bonus and some of your own money.  

What happens if there is more money in the Lisa than required for the deposit? Do they refund you straight to your bank account? 

I’m not sure tbh. I haven’t had mine requested by the solicitor yet. There may be a way on the form to only request some or something or for the solicitor to refund the rest. Best to check with your solicitor I think, I just didn’t want anyone rushing off the close their LISA thinking the process was the same as the HTB. 

I did some research, there’s a form you fill in and you have 3 options, close the account, leave £1 in or you can request a specific amount.  Anything left either has to be withdrawn with a penalty or kept in the account for retirement (that was my understanding anyway).

Firstimer123

Hi all, hoping to complete tomorrow, we are in Scotland so date is set however missives are yet to be concluded and should be done tomorrow. Does anyone know how early you get the keys or will it go on until late afternoon?

FTHophap

shaunad93 said:

Jamaicanmelaff said:

Arghbloodyhouse said:

Jamaicanmelaff said:

shaunad93 said:

hannah2283 said:

shaunad93 said:

Hi! FTB here and usual lurker. My offer was accepted 7 weeks ago now and I had hoped that some time in September I’d be a home owner but I learned from the solicitor yesterday that the sellers are still waiting on a mortgage offer for the house their buying (which is empty) so no chain further up than them. 

I know 7 weeks is nothing compared to some post but I’m a little fed up now. Solicitor took 4 weeks from me handing in my paperwork to realise they had photocopied a travel visa in my passport rather than the main page, also took 4 weeks to request searches which luckily are now back and all ok. 

Everything my end is kind of good to go (or so I believe, FTB so putting faith in the solicitor) so it’s frustrating having to wait for other people. I’m also mindful that I have a Help to Buy ISA. Does anyone know at what stage the solicitor will request my funds from that account and then how long from request to it being with my solicitor takes? 

For the H2B ISA yesterday I closed the account with nationwide, I’ll get sent a closing statement and then send that to my solicitor who will request the funds. 

Thanks! Mine is a lifetime ISA (obviously wasn’t paying attention when typing my original post), so wonder if it’s the same process. I wasn’t even aware I had to close the account!

You don’t close the account yourself for the Lifetime ISA. It works differently to the HTB ISA. You fill in a form and give it to your solicitor. Your solicitor then fills in a form to request the funds from the bank/BS. The bank/BS will send you a confirmation form to sign and approve and they’ll authorise the release of funds within 30 days. Do not close it yourself, you’ll lose your bonus and some of your own money.  

What happens if there is more money in the Lisa than required for the deposit? Do they refund you straight to your bank account? 

I’m not sure tbh. I haven’t had mine requested by the solicitor yet. There may be a way on the form to only request some or something or for the solicitor to refund the rest. Best to check with your solicitor I think, I just didn’t want anyone rushing off the close their LISA thinking the process was the same as the HTB. 

I did some research, there’s a form you fill in and you have 3 options, close the account, leave £1 in or you can request a specific amount.  Anything left either has to be withdrawn with a penalty or kept in the account for retirement (that was my understanding anyway).

If you're planning on using it soon, I wouldn't worry to much about the penalty as it has been removed until next March/ April I believe.
On the second point I had more than I thought in my LISA, so they just refunded me some of my cash deposit so I used all of the LISA.