Are we being messed around... what to do?** Update**....

onlyliveonce

So a weeks has gone by.

After asking my EA to make contact with our buyers, she was ignored via email and over the phone.

So i searched online for there contact details. 
So i sent of an email with resposne. They forwarded on our EAs email to there solicitor. They were also told be there solicitor the hold up was our side and the solicitors came up with the completion date. There is no hold up from us. 

So i asked our solicitor again on monday if there are any updates. There solicitor replied with;The Solicitors acting for the couple buying from you have now been back in touch.

 

They have advised the following:

 

“We still don’t have our clients’ loan papers – I have spoken to the broker who advises he does not anticipate any problems with this however the lenders are taking longer to issue the paperwork due to the high volume of cases and the fact that some staff are still working remotely.

Our clients would be happy to bring the date of entry forward however until the loan papers have been issued I cannot confirm this.”

I asked if this was implying they had somthing in place and just waiting on paper work, still waiting for a response from him.

Now what does anyone recommend. Iam tempted to contact the buyers again, no beating about the bush and ask for a straight answer.

We really need peace of mind.

What is everyone thoughts?

onlyliveonce

What are peoples thoughts; can i/should i contact the buyers again asking for the exact circumstances?

sheramber

I have a house on the market in Scotland at present. My EA is getting very frustrated at the time it is taking to get mortgages. Everything is taking much longer with the excuse it is due to the virus.
Lenders are being very  cautious , especially about  first time buyers.

iwb100

onlyliveonce said:

What are peoples thoughts; can i/should i contact the buyers again asking for the exact circumstances?

You shouldn’t directly contact them under any circumstances. You’ve been told their position. What are you hoping to achieve? They are awaiting a mortgage decision and/or paperwork. You emailing them won’t change this or help in any way. Your buyers are powerless to do anything about this. The time so far is not unreasonable. Our chain just took 6 months to complete (that’s taking out the lockdown period).

Joyful

I had viewers saying it would take them a couple of days to get the mortgage sorted. They missed out to someone that had sold their property. I would not be looking at anyone without a mortgage in place if you put it up again. I sold and had the missives done in 6 weeks. I now move in 7 weeks.

iwb100

Joyful said:

I had viewers saying it would take them a couple of days to get the mortgage sorted. They missed out to someone that had sold their property. I would not be looking at anyone without a mortgage in place if you put it up again. I sold and had the missives done in 6 weeks. I now move in 7 weeks.

What? You can't have a 'mortgage sorted' until you have a house with an accepted offer - and can instruct valuation. Having a mortgage in principle is now generally required to view - but this doesn't expedite the process of mortgage full decisions or paperwork being done and sent to solicitors during this covid period....

tweeto

Me and my partner are FTB's and I can assure you that getting a mortgage is very frustrating at the moment due to the huge load lenders have. I am currently renting on a month's notice and the house we're buying is empty, so is chain free.

This is our current progress:
Offer accepted: 10/7
Solicitor instructed: 13/7
Searches instructed: 2/8
Mortgage AIP (direct): 17/8
Mortgage application in: 20/8
Building survey (for me) to happen: 10/9

One issue we had was that we were trying to go through a broker and he tried for 4 weeks (every single morning) just to get the application in with HSBC. We gave up and decided to go directly to HSBC but the closest appointment with their advisor was >3 weeks. Luckily I got a cancellation within a day and got the application in. Funnily enough the searches haven't even come back yet with the council delaying them for 2-3 weeks.

Luckily our vendors haven't chased us yet which has helped, as it's stressful enough as it is. I am fully committed having already paid out plenty of money for the usual things and just want the deal done asap. The longer it drags out, the more i'm wasting in rent, but unfortunately there's really nothing more I can do. I am in the hands of the lender and solicitors now, although I think as soon as the searches come back and if we get our mortgage approved then we can exchange very quickly!

bbat

They may not be messing you around. I made a mortgage application around 10 July, within 24 hours of offer being accepted. Due to issues with valuation survey I only had an update end of last week and I have had to make another mortgage application. I had an agreement in principle and all my paperwork is fine. Issue was the valuation survey and delays. I'm really hoping the next application is quick as I'm sure the seller is frustrated. I really want the flat and I've done everything I can. 

onlyliveonce

bbat said:

They may not be messing you around. I made a mortgage application around 10 July, within 24 hours of offer being accepted. Due to issues with valuation survey I only had an update end of last week and I have had to make another mortgage application. I had an agreement in principle and all my paperwork is fine. Issue was the valuation survey and delays. I'm really hoping the next application is quick as I'm sure the seller is frustrated. I really want the flat and I've done everything I can. 

We are in scotland mortgage lenders up here go with the valuation in the home report transript.


Over 9 weeks on we are still waiting on them getting a mortgage offer.

Iam totally fed up with it all completely drained by it. We are half packed living out if boxes eating dinner round a coffee table. Trying to convince the other half to forget the whole idea. But im the buy guy for not wanting to move on with life!

onlyliveonce

Hi folks.
Can a house go back on the market after 2 failed sales?

Just found out this morning the buyers are sub prime applicants after 6 or 7 weeks of being told it is the banks that are holding things up and there broker is saying it doesnt look good.

Back when we took there offer 10 weeks ago the solicitor acting for them said; there broker has a mortgage DIP, is confident he can place a full mortgage, have nothing to sell and has a deposit ready, this implies they are good candidates. Someone is stringing soneone along.

What is the thoughts on re-marketing for a 3rd time? Is it classed as dead-wood.

Thanks.