The NEW waiting to exchange thread...

crumblylancashire

BountyBlink said:

Quick question... if we are in temp accommodation like air bnb how we will be able to apply for a new mortgage if we buy something else? Given we won’t be on the voters roll? This has been really worrying me!!! 

This has been worrying me too! 

Natbag

I moved out of my rented flat last week, and am staying at my boyfriend's house temporarily until our purchase completes (probably a couple of months). I've changed my address on a couple of things, like car insurance (as that's a must to make sure your policy is valid). But anything linked to my credit file I'm leaving for now. I've already moved twice in the last 3 years, and each time my credit rating nosedived. Most stuff I get paperless or check online anyway, and I've simply set up a Royal Mail redirection service for now so I can wait and change everything over to our new fixed address once we're in.

Sunsaru

First viewing - Sept 2020 (Listed at 190k)
Offer Accepted - 5th Dec 2020 (Went after another property first till subsidance put an end to that)
Survey complete - 16th Dec
Legal stuff started - First week Jan 2021
Looking to exchange - 12 March 2021 (Today!!!)
ETA Completion - 19 March 2021

I'm excited and a bit emotional. As 43 y/o FTB it's been a lifelong dream to own my own house.

Mani_London

Sunsaru said:

First viewing - Sept 2020 (Listed at 190k)
Offer Accepted - 5th Dec 2020 (Went after another property first till subsidance put an end to that)
Survey complete - 16th Dec
Legal stuff started - First week Jan 2021
Looking to exchange - 12 March 2021 (Today!!!)
ETA Completion - 19 March 2021

I'm excited and a bit emotional. As 43 y/o FTB it's been a lifelong dream to own my own house.

Best of luck. I am waiting for my completion today. I am FTB as well. It is nerve racking but worth it. But still nervous till i have keys in my hands. 

Insomniac101

crumblylancashire said:

Insomniac101 said:

It’s Friday!! Another week! Good luck everyone!!! xxx

The end of yet another week of just waiting

I'm a bit of a nervous wreck today... we are supposed to exchange today, but haven't heard anything from solicitors - have emailed them first thing for an update.... a little background also is that we've had two sales fall through, 1 was at exchange... now we are half packed .... and mega nervous

BountyBlink

Thanks all for your comments and replies about the QUANDARY of credit file / mortgages etc etc can I just ask though... won’t our solicitor have to inform mortgage company that we completed on our sale and effectively don’t live there and so our address is no longer? Or do you get a different solicitor??? We are porting our mortgage which is fine but as they clear off the mortgage, HSBC will know we don’t live there anymore?! Oh goodness the stress of this 🤦🏻‍♀️😩 we have a £3000 redemption penalty to pay And as long as we complete on another property within 6 months of this one settling we will get the redemption paid back... but surely with with them knowing we have cleared it off won’t they need to re credit check us? I’m sooooo confused and don’t want to make us homeless and be in a position where we have really messed up our mortgage chances! Thankfully we have a very large deposit. House we want to buy is £370,000 and the mortgage will be £130,000 but still, I’m super stressed about this! HELP 🤦🏻‍♀️😩

Insomniac101

Ok, so have an email back from the Solicitors that it won't happen today    
The buyer had asked a question on Wednesday that went to the maintenance company/freeholder... we await... So frustrating!

Mani_London

Insomniac101 said:

I'm a bit of a nervous wreck today... we are supposed to exchange today, but haven't heard anything from solicitors - have emailed them first thing for an update.... a little background also is that we've had two sales fall through, 1 was at exchange... now we are half packed .... and mega nervous

Normally Friday is busy for completion. I am waiting for mine today. Exchanges normally take place around 15:00 or so, unless your solicitor is not busy and then they can do around midday. Best of Luck

Natbag

How frustrating Insomniac101! Hope things progress quickly on that last point.
I'm getting annoyed, we are waiting for both buyers searches to come back - no idea why they are taking weeks longer than ours when the local authority has a quick turnaround time at the moment and they've had more time than us to request them. And absolutely nothing else is happening in the meantime despite my best efforts. I'm also nervous that my buyer seems to be really quiet, apparently his solicitor had sent queries to my solicitor but they were lost in the post, and I still haven't received any word from my solicitor on them, so I'm worried that they are stalling/not serious. My solicitor still hasn't replied to my email from Monday asking for an update either. Sigh.

lozenlady

Sellers and estate agent are pushing for exchange next week, but out solicitor is still waiting for them to get back to her with outstanding information. So frustrating!!