The NEW waiting to exchange thread...

Cuddlybearman

So continuing update....
The survey for the second (third? I give up) buyers mortgage application has been booked in for Monday which is good news at least its real. The surveyor attending came to my house 3 months ago for the same applicant but because the survey was done "3 months and 1 day ago" they need to do it again.    - in fact she has been to my house 3 times over 6 years!

I have to trust the process is underway at least - in the meantime my buyers "new" solicitors seem to be on the case and proactive - i think they have agreed that if they don't get completion done by 20th march they'll forfeit some kind of fee. Although ive told him exchange needs to happen some weeks before then so we'll see. I guess if they started applying for searches yesterday - what are we looking like now.....5 weeks for everything back in? Local council says 26 working days on their website for searches reply.

*Question - if solicitors reeeallllllyyyyy want to do they have ways of speeding up local search responses?

tigerlily74

Nile_E_Coyote said:

tigerlily74 said:

My solicitor has also
reported some things to the lender today. I hope they are still happy to lend and we get a response this week! It’s hard not
to get super stressed out. I think she has decided to get on and do as much as she can while we still wait for this last thing.

My solicitor doesn't seem to want to do anything. He told us to go to the lender to talk about lack of buikding reg issues etc. 

Is that normal?

On the surface it doesn’t make sense as the solicitor is supposed to act for the lender as well as for you, but I am no expert on conveyancing!! 

Anty21

badger09 said:

oniongirl said:

badger09 said:

oniongirl said:

badger09 said:

oniongirl said:

Things people said to me on Friday that did not make me feel great, 22nd January edition:
My estate agent: "If we don't have a date by then, then something is REALLY wrong", when I mentioned our broker says we need to apply for an extension on the 1st Feb at the latest because this has been going on since July.
My conveyancer: "I'm surprised you're still carrying on", when asked if there was an end in sight.

Oh no, I'm not surprised you're feeling down again. I haven't checked on your posts, but are your buyers ok with the continuing delay? IIRC, you don't have to move and are happy where you are. I guess at this stage, that is something to keep focussed on. 

Yes, I guess so - they just reapplied for a new mortgage as theirs expired before ours! They are FTBs and our property is (now) priced very competitively; we accepted their offer shortly before the stamp duty announcement and since then prices have gone up ~£20k. They've also spent a LOT of money on various reports and inspections. 

You're right. We can stay put. But we torture ourselves every weekend when we go on our walks as we walk by the house (it's "on the way" to the countryside) and fall more in love with the area! Oh well. It'll be fine, whatever happens.

Walking past every weekend sounds a bit masochistic .
I'm taking the opposite approach and not even looking at the photos and floorplan online. Not wise to go and look for real, as we're in Wales & house is in Shropshire. Just can't get enthusiastic about this purchase. However, my son in HK is making up for it, by constantly looking at the photos & noticing different things. He's also already bagged 'his' bedroom, in the unlikely event he'll be allowed in the country any time soon.

Solicitor phoned this morning to say earliest those higher up the chain will exchange is Mon 1st with completion Thurs 4th, and a COVID rider. I'd hoped to exchange by this Friday at the latest, but I've lost the will to argue. 

I think I will choose the phrase "naively hopeful".... We have planned to the last detail what will go where and what we'd like to buy and change... if we're going to be heartbroken, I want to be wailing-on-the-floor heartbroken, not just normal house fell through sad.

The 4th is next week! Exciting! Fingers crossed!

I really do hope this works out for you after all this time.

I did the wailing-on-the-floor-heartbroken when we lost our previous purchase in October and again, finally, on 18th November (not that the date is etched in my mind). Against our better judgement, we had planned where everything would go, what new furniture to buy, and I'd even bought a 'statement' lamp for the hall. I think I'm now in self preservation mode, so won't get excited until its definitely happening.

I am looking forward to being able to sleep in my own bed, and use my own pans, kitchen equipment & glasses though

You have been through such a lot - we are all guilty of doing all of this - you become so invested in the dreams your new home holds.  I hope the lamp with find a new place in your lovely new home next week 😊 

FTB_Help

Doodlebugs said:

FTB_Help said:

Oh !!!!!!! I guess the good thing was they've told you now rather than at the last minute.

Im still working on my purchase that my tenants will be leaving end of Feb, not heard of any changes, so im still clutching on the hopes of exchanging on the 1st week of March

Absolutely, I would have been gutted if they’d only told us the week they were planning on leaving. Taking it as a positive sign that they’re being considerate and keeping us all updated. I appreciate it’s not easy for them to be moving out during a lockdown! 

Should be doable as long as the EA get their end of tenancy check done quickly. Will you look to exchange and complete on the same day? 

@Doodlebugs

Stamp duty extention to be debated next monday, so fingers crossed if your tenants have to move leavung date past march, you may still make stamp duty holiday.

I had my offer back at the beginning of Oct and pretty much just waiting for tenants to vacate on time, but with lockdown who knows if they could still leave the country, so hopeful it may allow contingency for those in our situation/ stuck in a slow moving chain

annetheman

Has anyone experience exchange via a Housing Association (Shared Ownership); how long did it take for them to approve your mortgage offer?

My solicitor said: "we are just waiting on mortgage approval from sellers solicitors. That needs to be sent to KRBS for approval before we can exchange."

So I have no idea how long they will take to approve the mortgage, no idea if they would reject it and what reason they might have to reject it (but obviously massively freaking out that they will). 

Ohhhh this process is totrturous, truly.

Completion target: 26th Feb ;[

badger09

Cuddlybearman said:

So continuing update....
The survey for the second (third? I give up) buyers mortgage application has been booked in for Monday which is good news at least its real. The surveyor attending came to my house 3 months ago for the same applicant but because the survey was done "3 months and 1 day ago" they need to do it again.    - in fact she has been to my house 3 times over 6 years!

I have to trust the process is underway at least - in the meantime my buyers "new" solicitors seem to be on the case and proactive - i think they have agreed that if they don't get completion done by 20th march they'll forfeit some kind of fee. Although ive told him exchange needs to happen some weeks before then so we'll see. I guess if they started applying for searches yesterday - what are we looking like now.....5 weeks for everything back in? Local council says 26 working days on their website for searches reply.

*Question - if solicitors reeeallllllyyyyy want to do they have ways of speeding up local search responses?

Apologies, but I haven't gone back over your posts. Have any of your previous failed buyers had LA searches done? If so, it is possible for current buyers to buy them. We did just that to speed up the process. Paid full amount for them and we have no recourse if anything goes wrong, but we were ok to take that risk.

I think there are ways to speed up the search process, but will let someone who knows, say how to go about it. 

badger09

Anty21 said:

badger09 said:

oniongirl said:

badger09 said:

oniongirl said:

badger09 said:

oniongirl said:

Things people said to me on Friday that did not make me feel great, 22nd January edition:
My estate agent: "If we don't have a date by then, then something is REALLY wrong", when I mentioned our broker says we need to apply for an extension on the 1st Feb at the latest because this has been going on since July.
My conveyancer: "I'm surprised you're still carrying on", when asked if there was an end in sight.

Oh no, I'm not surprised you're feeling down again. I haven't checked on your posts, but are your buyers ok with the continuing delay? IIRC, you don't have to move and are happy where you are. I guess at this stage, that is something to keep focussed on. 

Yes, I guess so - they just reapplied for a new mortgage as theirs expired before ours! They are FTBs and our property is (now) priced very competitively; we accepted their offer shortly before the stamp duty announcement and since then prices have gone up ~£20k. They've also spent a LOT of money on various reports and inspections. 

You're right. We can stay put. But we torture ourselves every weekend when we go on our walks as we walk by the house (it's "on the way" to the countryside) and fall more in love with the area! Oh well. It'll be fine, whatever happens.

Walking past every weekend sounds a bit masochistic .
I'm taking the opposite approach and not even looking at the photos and floorplan online. Not wise to go and look for real, as we're in Wales & house is in Shropshire. Just can't get enthusiastic about this purchase. However, my son in HK is making up for it, by constantly looking at the photos & noticing different things. He's also already bagged 'his' bedroom, in the unlikely event he'll be allowed in the country any time soon.

Solicitor phoned this morning to say earliest those higher up the chain will exchange is Mon 1st with completion Thurs 4th, and a COVID rider. I'd hoped to exchange by this Friday at the latest, but I've lost the will to argue. 

I think I will choose the phrase "naively hopeful".... We have planned to the last detail what will go where and what we'd like to buy and change... if we're going to be heartbroken, I want to be wailing-on-the-floor heartbroken, not just normal house fell through sad.

The 4th is next week! Exciting! Fingers crossed!

I really do hope this works out for you after all this time.

I did the wailing-on-the-floor-heartbroken when we lost our previous purchase in October and again, finally, on 18th November (not that the date is etched in my mind). Against our better judgement, we had planned where everything would go, what new furniture to buy, and I'd even bought a 'statement' lamp for the hall. I think I'm now in self preservation mode, so won't get excited until its definitely happening.

I am looking forward to being able to sleep in my own bed, and use my own pans, kitchen equipment & glasses though

You have been through such a lot - we are all guilty of doing all of this - you become so invested in the dreams your new home holds.  I hope the lamp with find a new place in your lovely new home next week 😊 

Thank you Anty21. I'm sure I'll find a suitable place for my lovely lamp. 
This forum has been such a great place for support/empathy/advice/warnings etc and has saved many of my friends' ears from boredom overload.

Fionaanne141

We’ve tentatively agreed a completion date but just waiting on one more enquiry response before the solicitors will accept the date formally.

My sellers are moving into rented as their nee build won’t be complete until end of March. I just wanted to get peoples thoughts on wether it would be okay for me to ask my sellers if they’d mind leaving their broadband contract in place for a month if I reimburse with interest?
They won’t be moving it to the rented house and I’ll cover costs so have I missed anything obvious as to why I shouldn’t ask? I know my sellers personally from long before I made an offer on the home so I thought it might be worth asking and save me the horror of going without broadband if I can’t get connection in-line with completion date. Damn home working and home schooling! 

Cuddlybearman

badger09 said:

Cuddlybearman said:

So continuing update....
The survey for the second (third? I give up) buyers mortgage application has been booked in for Monday which is good news at least its real. The surveyor attending came to my house 3 months ago for the same applicant but because the survey was done "3 months and 1 day ago" they need to do it again.    - in fact she has been to my house 3 times over 6 years!

I have to trust the process is underway at least - in the meantime my buyers "new" solicitors seem to be on the case and proactive - i think they have agreed that if they don't get completion done by 20th march they'll forfeit some kind of fee. Although ive told him exchange needs to happen some weeks before then so we'll see. I guess if they started applying for searches yesterday - what are we looking like now.....5 weeks for everything back in? Local council says 26 working days on their website for searches reply.

*Question - if solicitors reeeallllllyyyyy want to do they have ways of speeding up local search responses?

Apologies, but I haven't gone back over your posts. Have any of your previous failed buyers had LA searches done? If so, it is possible for current buyers to buy them. We did just that to speed up the process. Paid full amount for them and we have no recourse if anything goes wrong, but we were ok to take that risk.

I think there are ways to speed up the search process, but will let someone who knows, say how to go about it. 

Yes i thought that and asked - turns out the solicitor didnt do squat for 3 months - so starting from scratch

rachlikeswinter

annetheman said:

Has anyone experience  exchange via a Housing Association (Shared Ownership); how long did it take for them to approve your mortgage offer?

My solicitor said: "we are just waiting on mortgage approval from sellers solicitors. That needs to be sent to KRBS for approval before we can exchange."

So I have no idea how long they will take to approve the mortgage, no idea if they would reject it and what reason they might have to reject it (but obviously massively freaking out that they will). 

Ohhhh this process is totrturous, truly.

Completion target: 26th Feb ;[

Hey - my developer accepted my mortgage offer within a week or two. There’s literally zero reason they would reject it - unless it’s a different product then the one you applied with initially, I.e monthly expenses higher which could affect 45% affordability. 

I’ve got my completion date set for 26th Feb! Given my solicitor permission to exchange this week, should be happening any day now - developer has confirmed they’re ready to go. Eeeee!