Timeline advice

Erin_2018

Hi all,


I am a first time buyer getting more stressed out by the hour!



I had an offer agreed on a house at the end of Sept and then formally applied for my mortgage (as opposed to mortgage in principal). It took over a week to get an appointment (which was only via phone in the end) to agree a product. Once this was done the application was posted out to me I posted it back signed, gathered my documents together and posted these back to the guy I was liaising with in branch. He told me I would get an offer in 2-3 weeks so I waited the 2 weeks and then called to follow up the offer. The builder wanted a quick sale so was putting increasing pressure on me via the EA. When I called I was told my contact at the bank had been signed off sick and no one had sent my documents onto the underwriters. I then had to contact the underwriter and resend everything. The mortgage offer has finally been posted today. When I spoke to my solicitors I can only ever seem to get the reception team and cannot get through to the solicitor – is this normal? The lady I spoke to told me it would be 6-8 weeks from when they received the mortgage offer but could not say if it could be completed sooner or if the solicitor had started searches etc. I have told them countless times the builder wants a quick sale and is putting pressure on but they are not very helpful.


I am getting so stressed as I am a first time buyer, buying alone and not sure what questions I should be asking or who I should be contacting at what point.



Is it really likely to take another 6-8 weeks?

hazyjo

Check out the waiting to exchange thread for loads of timelines:

https://forums.moneysavingexpert.com/discussion/5685963

Yes, it's likely to take at least that time.

Normal to wait a week for an appt with lender.

My solicitor is good at taking the occasional call I make, but previous solicitors haven't been. Usually because they can't spend their time giving updates. Just let them get on with it.

Some councils are very slow re searches. Some take days, others take weeks.

Try not to get stressed. Easier said than done...

Average for a freehold property is 12 weeks from offer to completion.

G_M

Get yourself a book on house buying. There are lots.

free from your local library.

Ftbnewbie

I’m frazzled with everything too, but don’t think it’s normal if you’re not. Put in offer last 2 weeks in September, mortgage apt on 3rd October then a 2 week wait for survey. I had all searches done prior to formal offer being received as I didn’t know otherwise. Buyer of my house has now had formal offer and has paid for his searches this week also. It’s just a case of awaiting everything to be finalised to arrange an exchange date. Now I’m panicking about all the clearing out and packing we need to start organising 😱. We have so much stuff lol.
Hoping to move around end of November 🤞🏻🤞🏻🤞🏻🤞🏻

Erin_2018

Thanks for all the replies - I have had a read around previous to today and I felt like everything was going ok but I think the builder just got me very stressed. He called demanding that we exchange by the end of October but that is not physically possible(given it is on Tuesday) so I wanted to make sure I was not missing something. I have tried to do everything I can on my side but I feel it is not quick enough for him. He kept mentioning others interested in the property

Red-Squirrel_2

Erin_2018 wrote: »

Thanks for all the replies - I have had a read around previous to today and I felt like everything was going ok but I think the builder just got me very stressed. He called demanding that we exchange by the end of October but that is not physically possible(given it is on Tuesday) so I wanted to make sure I was not missing something. I have tried to do everything I can on my side but I feel it is not quick enough for him. He kept mentioning others interested in the property

I'd start looking at other properties if I were you. This guy sounds iffy, why is he so desperate for a quick sale? Does he want you to cut corners and miss something in haste? Does he think he can bully you because you're a first time buyer where a more experienced buyer might get suspicious?

hazyjo

Ftbnewbie wrote: »

Now I’m panicking about all the clearing out and packing we need to start organising 😱. We have so much stuff lol.
Hoping to move around end of November 🤞🏻🤞🏻🤞🏻🤞🏻

Seems like a lot of money, but pay removal men to pack for you and sort the move. I would rather eat bread and water for a few months than have to do it myself. Worth EVERY PENNY. (There's a fairly current thread re removals and you'll find most people say the same thing.) Moving house is stressful enough. I will NEVER EVER IN MY ENTIRE LIFE wrap a single thing when I move. Can't stress it enough! It's like the fairies have come in and moved you!

Erin_2018 wrote: »

He called demanding that we exchange by the end of October but that is not physically possible(given it is on Tuesday) so I wanted to make sure I was not missing something. I have tried to do everything I can on my side but I feel it is not quick enough for him. He kept mentioning others interested in the property

Stop dealing with him direct. Block his number - whatever it takes - and say you have been advised that all calls go through your solicitor (or whoever else you might have on side). Is there an agent?

Jx

alex_163163

Agree with hazyjo - ask him to direct all communication through the solicitors as you don’t have the answers.

I would say he is mentioning ‘other people who are interested’ just to scare you. There’s no chance in hell he could now get any other purchaser to exchange before the end of October, so he’s just trying to scare you. These other people probably don’t even exist.

I know it can be frustrating when the solicitors don’t seem to be easily contactable - are they local? Can you go to the office to try speak to someone if it’s really bothering you?
And although the builder wants a quick sale (as they all do!), you need to let your solicitors take the time to check that everything is in order with the titles, searches etc. It’s only been a month since your offer was accepted, and the average timescale to completion is 12 weeks.