The NEW waiting to exchange thread...

trix-a-belle

Oh natbag fingers crossed for you
My chain (well bottom purchasers lender) seem to have gone from we can't possibly talk dates on Mon/Tue this week to how about the 27th last night, me & housemate both have no work cover that day due to trying to work with the 23rd that was originally proposed so is going to have to be after half term now so returned serve with the 30th, I'm not sure I believe they are actually ready but maybe me saying if it's not done on the 3rd it will be the end of Nov stuck a rocket somewhere that had traction.

westv

No news so far this morning from the bottom of the chain. The rest of us were ready to go a week ago.

Natbag

Still nothing from me. Silence from both the EA and solicitor (surely their systems can't STILL be down). This is ridiculous now. No progress made for a 4th day, completion supposedly still within 8 days. Pffffft!

Regina.filangie

Quick question - why is there often a delay of days between exchange and completion? I know it can be done on the same day but just wondering why this sometimes happens and others it doesn't?


At what point is it best to book removals? I am assuming it is after contracts have been exchanged and a date has been agreed for completion?


Hate that this is all out of my hands and I'm just waiting for the solicitor and searches to come back. Feel powerless to do anything and I am just so impatient!

Surrey_EA

Regina.filangie wrote: »

Quick question - why is there often a delay of days between exchange and completion? I know it can be done on the same day but just wondering why this sometimes happens and others it doesn't?

most lenders require 5 workings days notice to have mortgage funds available.

If you're not selling anywhere, and the property you are buying is vacant, then exchange and completion on the same day is possible, otherwise I wouldn't advise it.

If you're in the middle of a chain of 4, you'd have to pack up your entire house in the hope simultaneous exchange and completion might happen, and then potentially have to unpack everything again. Most sales I deal with have 2 - 3 weeks between.

Regina.filangie wrote: »

At what point is it best to book removals? I am assuming it is after contracts have been exchanged and a date has been agreed for completion?


Hate that this is all out of my hands and I'm just waiting for the solicitor and searches to come back. Feel powerless to do anything and I am just so impatient!

Have a removal firm or two lined up ready, then when your solicitor calls asking for your authority to exchange check the removal firm still have availability. Confirm booking immediately when exchange has taken place.

westv

Natbag wrote: »

Still nothing from me. Silence from both the EA and solicitor (surely their systems can't STILL be down). This is ridiculous now. No progress made for a 4th day, completion supposedly still within 8 days. Pffffft!

With house buying, assume everything you are told is a lie unless backed up by facts.

Natbag

So my solicitor finally replied, all enquiries are now satisfied, he is just waiting for the NHBC guarantee which is on order but we can proceed without it. However, we are STILL waiting for my buyers' mortgage to land. They submitted the additional document that was requested yesterday and the lender is meant to be prioritising it as urgent. :wall:
EA have promised an update by the end of today - but seeing as they said that the last 4 days and have a hit rate of 0% I won't hold my breath of a) getting a call or b) making any sort of progress :wall:
Really can't see us being able to complete within 8 days, especially if all involved continue to work at a snail's pace. So that will be the move off until 19th December. The week of Xmas. Oh joy.:wall:

Upsy_Staffordshire

Still not heard back from solicitor after he emailed our buyer's solicitor on Monday morning with our requested completion date. He promised he would call me as soon as they got back to him, so it sounds like they haven't replied.

I called my solicitor this morning to check there hasn't been any updates, but he was in a meeting and hasn't called me back.

I've called the EA to see if they can find out why we haven't had a reply about the completion date, so they are going to make some phone calls and get back to me.

Our solicitor was hoping we could exchange this week and our requested completion date is just over 2 weeks away, so I was really hoping we could exchange before the weekend, or at least have the completion date agreed with a view to exchange early next week.

Fingers crossed the EA might have some positive news!

Cheery_Daff

Urgh, seems to be a week of delays and nonsense in here!

Had an email from the broker's office today asking about progress with the letter the lender had requested from my solicitor on 21st September. Solicitor had rung me last Monday to confirm spelling of names etc and said he'd written it, so I'd assumed it had gone then, but after chasing him today I had an email saying it had now been typed and he just needed to read it before sending.

That'll be an entire month since it was requested (mostly not the solicitor's fault, but I think everyone could have moved a bit faster). We applied for the mortgage on 18th August and STILL haven't had a mortgage offer :eek: :eek: As far as I know all searches etc are done and everyone else is progressing nicely (although I daren't ask until we have mortgage offer ) but we're now 10 weeks in and still don't know if they'll lend us the money for the house. Aarrgghhh!

I hope this will be the last thing and they'll now be able to approve the mortgage, but I'm not holding my breath - I imagine it'll go to someone different at the building society and they'll find some new criteria to apply (that's what seems to have happened every single time so far).

I wouldn't mind, but I've been in the same well paid, full time, permanent job for the last 2 years (and another similar one for 6 years before that), no adverse credit, no other loans, credit cards, no house moves, no changes to electoral register or anything, and we're only borrowing 50% of the value of the house. In my innocence I thought the mortgage bit would be relatively straightforward... :rotfl: :rotfl:

Upsy_Staffordshire

Cheery Daff - you wouldn't have thought composing and sending a letter would take so long would you!

Well I've heard back from our EA and it turns out the reason we haven't had a response to our requested completion date is because the buyer's solicitor never told our buyer about it! An email was sent to them by our solicitor first thing Monday morning and they've never got round to telling the buyer! I'm so glad I called the EA now - if I hadn't, goodness knows when they would have decided to let him know when we want to complete. She's pushed for them to call our buyer today - we'll see if that happens.

I knew it must be something to do with the solicitor because our buyer has been pushing to get everything done asap, so I thought it was odd we hadn't heard anything for over a week.