Mortgage offer & 4 month completion

Hi, (put this in wrong place before)

We started our process only on the 10th of March and in that time we have already arrived at our full mortgage agreement with the bank.

We actually did not expect things to move so quickly as our timeline was to move at the end of the school year in July as we are moving outside London and have a child in year 6. The mortgage is valid until End of September

We have spoken directly with the vendor and they are in the same position with their child who is also in year 6 & they also have sorted out a place to move, even though that not a pressing issue.

So my question is:

1. Should I let the process keep going at this pace and exchange as soon as possible

2. I've heard the solicitors can become a bit annoyed about this scenario

3. If we exchange contracts end of April, what will happen between then and July when we want to move.

:beer:

Replies

  • ThrugelmirThrugelmir Forumite
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    Be suprised if you anywhere close to exchange yet. Is the chain above complete yet, i.e. above your vendor.
  • femster82femster82 Forumite
    50 Posts
    Thrugelmir wrote: »
    Be suprised if you anywhere close to exchange yet. Is the chain above complete yet, i.e. above your vendor.

    No she has not found anywhere yet, but is fine to move in with family.

    Just wondering what would happen if solicitors have done everything in time for May exchange (for example) but we want to complete in July
  • amnblogamnblog Forumite
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    femster82 wrote: »
    1. Should I let the process keep going at this pace and exchange as soon as possible

    As you wish. An exchange means everything is confirmed and set legally. Delay means any party can pull out at any time.
    femster82 wrote: »
    2. I've heard the solicitors can become a bit annoyed about this scenario

    Nonsense, where did you get this from?
    femster82 wrote: »
    3. If we exchange contracts end of April, what will happen between then and July when we want to move.

    Nothing. Everyone carries on as normal until completion day.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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