The NEW waiting to exchange thread...

firsttimebuyerhelpme

mlb95 said:

firsttimebuyerhelpme said

I had this question, we completed on our purchase yesterday. Better to send deposit from one place, but our solicitor wanted bank statements of all of them. I had money in my savings account and ISA and a gift, I was also buying half with my partner too who had a help to buy!!
Long story short I transferred ISA, savings and gift into my account and produce transaction history of these. Then I transferred to my partner and produced transaction history of this. He then had his help to buy statements and then transaction history or my deposit going into his account! 

We then transferred in one big go to the solicitor 🤦🏽‍♀️ It was a bit of a nightmare tbh! I think our solicitor was particularly fussy as every time we had money stored somewhere else he expected three months of statements to prove it had been there for that long for anti fraud and then transaction history to show the movement of the money! Some solicitors I have seen aren’t so needy!! Haha 

hope that makes any sense at all?!!

Perfect, thank you for your reply. So it'd be easier to start to put all the money in the one account now so it's ready to go from the one account ? 

Thanks and I'm glad yours is all sorted and you've got your new home. 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

mlb95

firsttimebuyerhelpme 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

Thank you for your advice, I'll start doing that in preparation 🙂 Don't want to hold anyone up but don't really have a clue how long this should take either 🤦

firsttimebuyerhelpme

mlb95 said:

firsttimebuyerhelpme 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

Thank you for your advice, I'll start doing that in preparation 🙂 Don't want to hold anyone up but don't really have a clue how long this should take either 🤦

It’s so hard isn’t it! I had no clue what was going on for most of our transaction! Once our enquiries were back we completed within two weeks. We exchanged and completed on the same day due to covid. 

mlb95

firsttimebuyerhelpme said:

mlb95 said:

firsttimebuyerhelpme 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

Thank you for your advice, I'll start doing that in preparation 🙂 Don't want to hold anyone up but don't really have a clue how long this should take either 🤦

It’s so hard isn’t it! I had no clue what was going on for most of our transaction! Once our enquiries were back we completed within two weeks. We exchanged and completed on the same day due to covid. 

That sounds quick , how long was the whole process for you ? I'd rather exchange and complete on the same day too, do you know why there is a gap between them sometimes? It's all so much new jargon to learn 🤦

tigerlily74

mlb95 said:

firsttimebuyerhelpme said:

mlb95 said:

firsttimebuyerhelpme 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

Thank you for your advice, I'll start doing that in preparation 🙂 Don't want to hold anyone up but don't really have a clue how long this should take either 🤦

It’s so hard isn’t it! I had no clue what was going on for most of our transaction! Once our enquiries were back we completed within two weeks. We exchanged and completed on the same day due to covid. 

That sounds quick , how long was the whole process for you ? I'd rather exchange and complete on the same day too, do you know why there is a gap between them sometimes? It's all so much new jargon to learn 🤦

It’s helpful to have a gap so you can do things like pack, book a day off work, hire a van etc. How could you do that if you didn’t have the completion date booked in? So it so only easy to exchange and complete on the same day if you are in rented or staying with someone so you can move in/out at your own pace. Otherwise a week or two between exchange and completion is ideal.

mlb95

tigerlily74 said:

mlb95 said:

firsttimebuyerhelpme said:

mlb95 said:

firsttimebuyerhelpme 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

Thank you for your advice, I'll start doing that in preparation 🙂 Don't want to hold anyone up but don't really have a clue how long this should take either 🤦

It’s so hard isn’t it! I had no clue what was going on for most of our transaction! Once our enquiries were back we completed within two weeks. We exchanged and completed on the same day due to covid. 

That sounds quick , how long was the whole process for you ? I'd rather exchange and complete on the same day too, do you know why there is a gap between them sometimes? It's all so much new jargon to learn 🤦

It’s helpful to have a gap so you can do things like pack, book a day off work, hire a van etc. How could you do that if you didn’t have the completion date booked in? So it so only easy to exchange and complete on the same day if you are in rented or staying with someone so you can move in/out at your own pace. Otherwise a week or two between exchange and completion is ideal.

That makes sense , I'm in rented currently with not very much as it was furnished already so maybe it'd work for me. Thank you 

Othmas

Any advice about purchasing furniture? We haven’t exchanged yet but we have no furniture at all!

MaryNB

Othmas said:

Any advice about purchasing furniture? We haven’t exchanged yet but we have no furniture at all!

Don't buy anything before exchange in case the sale falls through.
Don't buy anything on credit before completion! Your lender may do another credit check before releasing funds.

I'm in the same boat have to buy almost all the furniture. I was supposed to exchange on Friday but it's been delayed. I've got the money for furniture but want to try stuff out before ordering anything (in particular the couch and mattress). Until then I have a camping chair and air bed....
Bear in mind, sofas can be on very long lead times. If you're really stuck ikea is your friend. (ETA: or second hand stuff on gum tree, fb market place, freecycle).

tigerlily74

mlb95 said:

tigerlily74 said:

mlb95 said:

firsttimebuyerhelpme said:

mlb95 said:

firsttimebuyerhelpme 

Yes, I would start putting your money into one place in order to transfer to your solicitor! Our solicitor also was really slow at telling us when to do things, but then expected them to happen immediately 😂 so if it’s all one place ready to go it’s easier and probably quicker! 

Thank you for your advice, I'll start doing that in preparation 🙂 Don't want to hold anyone up but don't really have a clue how long this should take either 🤦

It’s so hard isn’t it! I had no clue what was going on for most of our transaction! Once our enquiries were back we completed within two weeks. We exchanged and completed on the same day due to covid. 

That sounds quick , how long was the whole process for you ? I'd rather exchange and complete on the same day too, do you know why there is a gap between them sometimes? It's all so much new jargon to learn 🤦

It’s helpful to have a gap so you can do things like pack, book a day off work, hire a van etc. How could you do that if you didn’t have the completion date booked in? So it so only easy to exchange and complete on the same day if you are in rented or staying with someone so you can move in/out at your own pace. Otherwise a week or two between exchange and completion is ideal.

That makes sense , I'm in rented currently with not very much as it was furnished already so maybe it'd work for me. Thank you 

Hope it works out! We did the same when we were in rented.

RockOnZombies

Timeline

AIP – 11/8

Full App – 17/8

Accepted – 02/09

Searches Completed – 26/10

Silence for weeks

Found out person at the bottom of the chain is now going for a mortgage instead of cash 9/11

Extended Mortgage Offer by a month. 18/11

Still waiting for bottom of chain’s mortgage offer 23/11.

Does anyone know how long mortgages are taking at the moment roughly? we know the valuation on the one below us was done on the 12th Nov.