Nervous first time buyer!

Squirrelz92

KcEliMa said:

@gemmacampbell2019 THANK YOU! 

That’s what I need! That’s great help, as I hate to rely on companies to tell me what I need, in fear they’ll sell me something that’s not required. Made my phone calls today so much easier! 

Solicitor had opened my case and got the ball rolling as soon as I emailed yesterday, she just never replied! Haha, so that’s great to know. 

Ooooh, fingers crossed for us both that this can really get rolling and speed along! It’ll be great to have everything done by mid August for us (sooner would be better, but I’m not unrealistic😂) 

It's no problem at all. To be honest I knew nothing but I'm obsessed with researching anything I don't know buy want to excessively so having that trait helps 😂 fingers crossed all goes well for the both of us. Praying I'll be in before 31st July 😂

kjelyse

Email from my solicitor today telling me that the seller's solicitor is still waiting for instructions. Ughhhhh. We've had the memorandum of sale since May 19th, surely it can't be that hard for them to pull together whatever paperwork they need to do? 

My solicitor has chased up the estate agent, so hopefully there'll be some movement sooner rather than later. 

My dreams of being in by July 20th are washing away ...

KcEliMa

kjelyse said:

Email from my solicitor today telling me that the seller's solicitor is still waiting for instructions. Ughhhhh. We've had the memorandum of sale since May 19th, surely it can't be that hard for them to pull together whatever paperwork they need to do? 

My solicitor has chased up the estate agent, so hopefully there'll be some movement sooner rather than later. 

My dreams of being in by July 20th are washing away ...

Oh no! How frustrating!! 

Excuse my ignorance; the plague of being a complete novice FTB, I’m not actually clued up on a memorandum or its purpose? Is it what the EA has to arrange?

kjelyse

KcEliMa said:

Oh no! How frustrating!! 

Excuse my ignorance; the plague of being a complete novice FTB, I’m not actually clued up on a memorandum or its purpose? Is it what the EA has to arrange?

It seems like (I say, as a fellow FTB who has very little idea what they're doing) a document drawn up the EA that essentially makes the sale "official". It confirms the price we'd agreed, and has all of our details on it, plus the details of both sets of solicitors. 

Lancs1234

Hi All, Some great info on here so thanks.

Me and my partner put our first offer in on a house last week which after some negotiating was accepted on Tuesday evening. We had our principle agreement sorted and everything looked great. The seller already has another property they have moved into so there's no chain and they're happy to get things moving as quickly as possible. 

We've already had a couple of issues so hoping the rest goes smoothly. The main one being that I had a phonecall from our mortgage advisor to tell me that the company our mortgage in principle was with had pulled the product in the 5 days between it being issued and us having the offer accepted. Given that we have a 10% deposit there's a very limited market at the moment so another lender would be very difficult. After a lot of time spent on the phone asking to speak to managers of managers they decided they would honour the mortgage in principle Phew!

So now we are in the waiting stage, our mortgage advisor has told us that the mortgage will be processed with the valuation in the next two weeks but has already been accepted (I don't know how this can work? unless because of the situation someone has processed it straight away.). Solicitors are in place and ready to start once that is confirmed. 

Don't know about other parts of the country but around here people are having to move quick with houses often going above the asking price! 

kjelyse

I've heard of a few instances where people's mortgage application was accepted almost immediately, on the basis of what info/evidence was provided for the AiP, but the lender can't officially sign off on it until they've got the valuation back. 

kjelyse

Good news! I got an email back from the EA, confirming that the property is now vacant, that the seller is hand-delivering the documents to their solicitor on Monday, and that they're happy to try for a completion date of July 5th. 

Bad news! My solicitor told me that there are delays to local searches.

KcEliMa

@kjelyse Ahhh, no! Why is there always something?! Hopefully it’s a slight delay and won’t hold you up too long.

Guys, can I just double check, as FTBs, purchasing a house for £185,000, we do not pay Stamp Duty, do we? Solicitors have included it in the fees for our purchase🙄

Squirrelz92

KcEliMa said:

@kjelyse Ahhh, no! Why is there always something?! Hopefully it’s a slight delay and won’t hold you up too long.

Guys, can I just double check, as FTBs, purchasing a house for £185,000, we do not pay Stamp Duty, do we? Solicitors have included it in the fees for our purchase🙄

As FTB you shouldn't be paying any stamp duty if your property is under the value of £300,000
Are you both definitely FTB'S? Were your solicitors made aware of your status when you appointed them? 

KcEliMa

gemmacampbell2019 said:

KcEliMa said:

@kjelyse Ahhh, no! Why is there always something?! Hopefully it’s a slight delay and won’t hold you up too long.

Guys, can I just double check, as FTBs, purchasing a house for £185,000, we do not pay Stamp Duty, do we? Solicitors have included it in the fees for our purchase🙄

As FTB you shouldn't be paying any stamp duty if your property is under the value of £300,000
Are you both definitely FTB'S? Were your solicitors made aware of your status when you appointed them? 

Thanks sweet🙂
Yes, the solicitor was, but on our very first telephone conversation when I was only looking for quotes. This may have slipped her mind as it hasn’t been mentioned in any subsequent communications via email. We’re both absolutely first time buyers, neither of us have purchased a house at all (been together 14yrs, since we were 19 & 21, so know there’s no secrets in the closet😂)
I got to ring the solicitors tomorrow before I send all the documentation anyway. My dads caused me some worry with the fact that his address on his bank statements haven’t been updated. So, his proof of ID (his current tenancy agreement) is one address but his bank statements are my address, from when he lived with us. Not using the statements as proof of address, only as proof of pension income (he’s gifting us a large sum of money) but just need to explain to them why the addresses differ. He moves again next month, so that’s why he didn’t change them with the BS only to change them again (I asked him to on a few occasions but because he doesn’t do internet banking and is one of these ‘more mature’ gentlemen who likes to physically attend the branch to deal with anything, he just simply hasn’t done it). I really hope it won’t cause any issues!! Had enough stress with the bloomin’ mortgage application! Don’t need this stress too!!😫