Completion Date

FTB19

Myself and my partner are currently buying our first house, we had a mortgage offer through 26 Feb however there was an error where the plot number was used instead of the house number.
This has held things up and as of Friday the solicitors still haven't had the new offer (despite my broker receiving it the week before)
The developers have asked us to complete 29 March as the house is ready to go, I have explained the situation and they still want it done by this date.
I understand we still have to exchange and also pay deposit etc. What will happen if it is not done by this time, can they pull out?

AnotherJoe

i assume you haven't exchanged yet? If so, then yes they could pull out.
I would focus on working with your broker to move things along.

FTB19

No we haven't exchanged yet, the solicitors said this could be done once they receive the new offer.
It's so frustrating as the broker and solicitor are a few doors away from each other, but said they have to send the offer by post for an audit trail.

hunte78

We had the same situation recently. We were originally meant to exchange on 4th March, but we're still waiting on our offer letter from the bank. Our solicitor was in constant contact with the developers solicitor and kept them up to date and so a new exchange date was agreed. It was only this Friday that we received the offer letter and proceeded with signing the missives.

Maybe ours is different as we are purchasing a new build off plan so the house is still being built. It made no sense for the developer to go back to the start of then process with new buyers when we only needed an extra week to check paperwork.

We found that as long as everyone was kept in the loop then they were willing to help.

FTB19

I have done my best to keep everyone up to date so hopefully will be fine. As soon as we exchange all the money is good to go so fingers crossed.

kingstreet

If your broker has their offer and the solicitor is still waiting for theirs, I'd guess at Nationwide? They send postal copies of offers second class and the solicitors insist on having all the gubbins that comes in their pack, rather than just dowoload it from the Nationwide website.

It's only 17th, so getting the offer, exchanging and completing before 29th should be achievable.

FTB19

It's Halifax, they emailed the offer to my solicitor today after all that!
Solicitor says she would prefer to aim for 5th April. We are using HTB so unsure how long this takes - could we do it by 29th?
Was hoping not to pay rent in April! But we will see.