The NEW waiting to exchange thread...

withaspritz

23/06 - Our property goes on the market for sale with no chain (moving into rental whilst new build is, well, being built - complete Dec 2020)
28/06 - Viewing by what would become the buyer (no chain also)
28/06 - Offer accepted
29/06 - AML checks by EA begin
06/07 - AML passed. Instructed conveyancers
24/07 - Valuation visit by buyer's lender
28/07 - Mortgage offer received by buyer, searches applied for
20/08 - Buyer's searches are back! 
21/08 - Enquiries list received by my solicitor
14/09 - All enquiries responded to 
15/09 - Buyer's solicitor raises query (Post Valuation Query) to Buyer's lender natwest about 25-year doubling ground rent 

Unfortunately we are still waiting for the PVQ to be returned. 3 weeks now with no update.

söpöpöllö

Well, somehow we have managed to exchange today! All things considered the buying side was actually relatively stress free. No game playing, no other problems. Offer was accepted on 3/8.

Rachel*

Adding my timeline on here, as hopefully seeing it in black and white will make me stress a bit less! 

22/08 - Offer accepted
24/08 - Mortgage application started (through broker) Solicitor appointed.
28/08 - Documents sent to HSBC

14/09 - More documents requested by HSBC
16/09 - HSBC reduce mortgage offer by £1,000. Price renegotiated with seller (reduced by £1,000) and new offer accepted.
24/09 - More documents requested by HSBC
02/10 - Mortgage finally approved! 

06/10 - Surveyor appointed (for survey on 14/11 - the earliest date available!) 

I’m a FTB buying a leasehold flat, hoping to complete by January (thinking this is realistic?) I don’t think I will stop stressing until the keys are in my hand! 

periwinkleperkins

periwinkleperkins said:

14-Aug Developer released new plots.

18-Aug Paid reservation fee.  

19-Aug Appointed conveyancer and applied to HTB. 

26-Aug Received ATP from HTB. 

28-Aug Full mortgage application submitted. 

1-Sep Broker advised "verbally accepted" and all documents OK. 

7-Sep Application "accepted" by underwriters subject to valuation / valuation instructed. 

10-Sep Valuation booked for 15-Sep. 

15-Sep Valuation completed ✅ 

17-Sep Vida confirm receipt of valuation and next update due by close of business 18-Sep.
23-Sep Received Mortgage Offer!

So we finally have our mortgage offer only to get a phone call from our solicitors to advise the agency they instructed to perform personal searches isn’t acceptable to the lender, so they’ve now got to apply for full local authority search instead which will take 3-4 weeks to be returned (and incurs additional cost). 

Another 2 weeks have now passed and we’re still waiting for the local searches, developer chasing daily asking when we can exchange and build complete date now less than 3 weeks away! This is so stressful 😔

Falafels

I'm at the top of a chain of four; I recently had a chat to the estate agent's sales progressor, who said that the other people in the chain were hoping for a completion date of 16th October. That suits me perfectly, so I told the EA and then confirmed with my solicitor. I got an email back from my solicitor, who said she'd been in touch with those of the buyer - and they knew nothing about it!

I left a message with EA, who got back to me today to say that the problem had arisen because my buyer has different solicitors for her sale and purchase (long story), and had forgotten to tell the firm handling her purchase! Anyway, last thing I heard was being copied into an email to all the solicitors/conveyancers saying we were going for a completion date of the 16th, and please could everyone have their hair brushed, faces washed and paperwork in order for exchange on the 9th.

Here's keeping fingers crossed!

bellevie

nearing the end now - it feels like its been an eternity but actually reading these looks around average!

17/08 viewed
18/08 offered & accepted 
19/09 Mortgage submitted via broker
19/09 Solicitor appointed
1/09/20 Survey
11/09 Searches requested
23/09 Mortgage approved
1/10 Solicitor confirms searches back and queries resolved ready to proceed
6/10 Agreement for sale and mortgage signed and posted
6/10 LISA funds requested

We could have squeezed the exchange in end of October, but we would have faced loosing a chunk through early withdrawal of DH LISA, mine is OK his was opened a year in November. With that in mind we are hoping for an exchange and completion same or next day Mid november. Simple probate sale no chain, we are privately renting.

I found the early stage so stressful - with the current situation finding people to be bloody witnesses for endless forms, certifying things after traipsing around post offices to find a branch offering the service, posting things backwards and forwards - for that alone I swore I will be choosing a local solicitor in future where I can just drop things in person.
Oh and we didn't realise how little ID DH has since his driving license is still to return from DVLA and all of the bills are in my name and the ones he has arrive by email so again had to wait for prints to be delivered by bank or pay for certification. So many mental notes of making sure how we set things up in the new home and things we will do differently if we ever move again!

Things have been much quieter since mortgage was approved thank goodness though I expect its the calm before the storm!

ZappyBoy

Adding ours to the mix. FTB, 85% LTV, no-chain, 3 bed semi, New Build.
10/09 Mortgage offer
17/09 Draft contract created. Enquiries sent to seller's solicitor.
2/10 Homebuyer Survey
5/10 Searches back 
7/10 Solictor update. Only partial replies to enquiries from seller's solictor. 
Bit annoyed seller's solicitor basically dragging their heels with replying to enquiries. We also visited the property again on the 14th September and found the electrics were not working properly and the boiler had a fault so we couldn't test the central heating. 
Have asked the estate agent to contact the seller to respond to all the enquiries from our solicitor and also fix the electrics and boiler. Definitely insisting on paying for our own EICR report once they resolve the electric issues.
Less stressful than waiting for the mortgage but still annoying the seller seems to be excruciatingly slow to respond.

padlilly115

Attempt number 3 on exchanging, if it doesn't happen today I think I might cry haha.  It's impossible to concentrate on anything else, I have never been so unproductive at work!

CBush86

padlilly115 said:

Attempt number 3 on exchanging, if it doesn't happen today I think I might cry haha.  It's impossible to concentrate on anything else, I have never been so unproductive at work!

Know the feeling!! Specially working from home, constantly checking my phone 🙄 fingers crossed for today padlilly115 

Falafels

Whoopee! Wheeee! Eeek! and Yike!!! and Wowzarooties!!!!!

We've exchanged!