Just a moan...

Comms69

seradane said:

DoaM said:

seradane said:

Comms69 said:

I dont understand what the issue actually is?

Bad mortgage product? You seem to be ranting against really very minor stuff.

It's depressing that some people consider situations like the above perfectly normal, 'minor' stuff... yes ok fine we're not starving or homeless but surely anyone can see this system isn't working and needs improving?

Are you related to the OP?

No, just using "we" in the you, me & everyone else here sense, and preempting someone making the 'oh kids are starving in Africa you can't complain' argument. Admittedly I'm making an assumption the OP is not homeless or starving, but that doesn't seem like too much of a stretch by the nature of his post...

Well i wouldnt make that argument. 

No-one forcing you to buy a house...

burtbot1

HCIMbtw said:

 I actually ended up offering £325,000 (which I would legitimately have paid) and was just given a rejection. Turns out the agent had essentially been showing a lady round the property who's house they had already sold, so they were tying up their business and had I believe given a !!!!!! representation of our buying position to the vendors to make us seem undesirable... I actually ended up reporting this agent to the property ombudsman, which was ultimately a waste of time.. as i'd essentially need the agent to confess to them. Property ultimately completed its sale at £317,000....

The above happened to my sister and I when we were buying our first place. We offered over the asking price, but the agent said the vendor chose someone else (who offered under what we had). This agent was really dodgy (stories of backhanders going on, etc) so we were pretty sure that our offer never made it to the vendor. 

In the end, we put a note in through the door of the flat, mainly because we wanted the vendor know we had made a better offer. We worded it as "We were the girls who offered £xx for your flat, and were so taken with it, we wondered if you owned anything else similar... "

In the end, we got the flat! The vendor phoned us back, and offered to us instead. So if anything like the above ever happens to you again, you could try that tactic. 

HCIMbtw

burtbot1 said:

HCIMbtw said:

 I actually ended up offering £325,000 (which I would legitimately have paid) and was just given a rejection. Turns out the agent had essentially been showing a lady round the property who's house they had already sold, so they were tying up their business and had I believe given a !!!!!! representation of our buying position to the vendors to make us seem undesirable... I actually ended up reporting this agent to the property ombudsman, which was ultimately a waste of time.. as i'd essentially need the agent to confess to them. Property ultimately completed its sale at £317,000....

The above happened to my sister and I when we were buying our first place. We offered over the asking price, but the agent said the vendor chose someone else (who offered under what we had). This agent was really dodgy (stories of backhanders going on, etc) so we were pretty sure that our offer never made it to the vendor. 

In the end, we put a note in through the door of the flat, mainly because we wanted the vendor know we had made a better offer. We worded it as "We were the girls who offered £xx for your flat, and were so taken with it, we wondered if you owned anything else similar... "

In the end, we got the flat! The vendor phoned us back, and offered to us instead. So if anything like the above ever happens to you again, you could try that tactic. 

I actually did drop a note through the vendors door, more a summary of everything I understood had gone on, just to make sure they had an accurate representation of us and could push back on to their agent if they felt it necessary. Felt a bit like i was doing something forbidden.. but all the engagement with the agent had felt so dodgy 

We were chain free, money in the bank, mortgage in principle, made the best offer... which they had accepted twice... but no they end up deciding to go with the guys in a chain who have offered less and subsequently negotiate the price further down..

ameliarate

I think house selling and buying is the pits. It is so stressful.  You haven’t sold until contracts exchange and the solicitors take far longer than necessary to sort everything. Someone pulls out 5 weeks in and then you’re back to square one.  I think something more like Scotland where once you’ve had an offer accepted that’s it, would be better. 

MovingForwards

ameliarate said:

I think house selling and buying is the pits. It is so stressful.  You haven’t sold until contracts exchange and the solicitors take far longer than necessary to sort everything. Someone pulls out 5 weeks in and then you’re back to square one.  I think something more like Scotland where once you’ve had an offer accepted that’s it, would be better. 

Once you've concluded missives (exchanged contracts) that's it. Buyer or seller can withdraw from purchase / sale up to that point in Scotland. There's no binding contract when making an offer / having it accepted to complete, same as England.

burtbot1

HCIMbtw said:

I actually did drop a note through the vendors door, more a summary of everything I understood had gone on, just to make sure they had an accurate representation of us and could push back on to their agent if they felt it necessary. Felt a bit like i was doing something forbidden.. but all the engagement with the agent had felt so dodgy 

We were chain free, money in the bank, mortgage in principle, made the best offer... which they had accepted twice... but no they end up deciding to go with the guys in a chain who have offered less and subsequently negotiate the price further down..

Wow, bizarre!? And really annoying for you.. 

eidand

HCIMbtw said:

burtbot1 said:

HCIMbtw said:

 I actually ended up offering £325,000 (which I would legitimately have paid) and was just given a rejection. Turns out the agent had essentially been showing a lady round the property who's house they had already sold, so they were tying up their business and had I believe given a !!!!!! representation of our buying position to the vendors to make us seem undesirable... I actually ended up reporting this agent to the property ombudsman, which was ultimately a waste of time.. as i'd essentially need the agent to confess to them. Property ultimately completed its sale at £317,000....

The above happened to my sister and I when we were buying our first place. We offered over the asking price, but the agent said the vendor chose someone else (who offered under what we had). This agent was really dodgy (stories of backhanders going on, etc) so we were pretty sure that our offer never made it to the vendor. 

In the end, we put a note in through the door of the flat, mainly because we wanted the vendor know we had made a better offer. We worded it as "We were the girls who offered £xx for your flat, and were so taken with it, we wondered if you owned anything else similar... "

In the end, we got the flat! The vendor phoned us back, and offered to us instead. So if anything like the above ever happens to you again, you could try that tactic. 

I actually did drop a note through the vendors door, more a summary of everything I understood had gone on, just to make sure they had an accurate representation of us and could push back on to their agent if they felt it necessary. Felt a bit like i was doing something forbidden.. but all the engagement with the agent had felt so dodgy 

We were chain free, money in the bank, mortgage in principle, made the best offer... which they had accepted twice... but no they end up deciding to go with the guys in a chain who have offered less and subsequently negotiate the price further down..

There's something we're not being told here. Think a bit for a sec, this makes zero sense. No seller would take less money from someone in a chain, vs more money from someone else, who is also chain free. What are you not telling us?

Grumpy_chap

On the last point:
"in the meantime my mortgage will be reverting to SVR at the end of September so I can look forward to paying an extra £600pm on my mortgage until we find somewhere."
How large is your mortgage that the increase in payments will be £600 pcm going from a "deal" rate to SVR? 
Using some assumptions and on-line tools, it would be a mortgage of around £325k outstanding, but I have also read the OP that is about the total purchase price of current house so you have not built up any equity anywhere along the line.  That does not seem quite right, but it was a long OP so maybe I lost the train somewhere.

HCIMbtw

eidand said:

HCIMbtw said:

burtbot1 said:

HCIMbtw said:

 I actually ended up offering £325,000 (which I would legitimately have paid) and was just given a rejection. Turns out the agent had essentially been showing a lady round the property who's house they had already sold, so they were tying up their business and had I believe given a !!!!!! representation of our buying position to the vendors to make us seem undesirable... I actually ended up reporting this agent to the property ombudsman, which was ultimately a waste of time.. as i'd essentially need the agent to confess to them. Property ultimately completed its sale at £317,000....

The above happened to my sister and I when we were buying our first place. We offered over the asking price, but the agent said the vendor chose someone else (who offered under what we had). This agent was really dodgy (stories of backhanders going on, etc) so we were pretty sure that our offer never made it to the vendor. 

In the end, we put a note in through the door of the flat, mainly because we wanted the vendor know we had made a better offer. We worded it as "We were the girls who offered £xx for your flat, and were so taken with it, we wondered if you owned anything else similar... "

In the end, we got the flat! The vendor phoned us back, and offered to us instead. So if anything like the above ever happens to you again, you could try that tactic. 

I actually did drop a note through the vendors door, more a summary of everything I understood had gone on, just to make sure they had an accurate representation of us and could push back on to their agent if they felt it necessary. Felt a bit like i was doing something forbidden.. but all the engagement with the agent had felt so dodgy 

We were chain free, money in the bank, mortgage in principle, made the best offer... which they had accepted twice... but no they end up deciding to go with the guys in a chain who have offered less and subsequently negotiate the price further down..

There's something we're not being told here. Think a bit for a sec, this makes zero sense. No seller would take less money from someone in a chain, vs more money from someone else, who is also chain free. What are you not telling us?

The agent who was advertising the house was showing a person around the house after best and final (they showed them around at least twice), after our offer had been accepted. This person who was being shown around was being shown around because they had sold their house with the same agent. The agent was tying up two customers in one so that they got their commission on both. 

I was not selling a house with the agent so there was no reason for the agent to put us forward to the vendor as a better option, even though we were. From what I could infer on calls with the agent they told the vendor we were in a poor buying position because we only had around 18% deposit in cash and the other person with higher equity was a safer bet to progress and complete (even though they were in a chain). 

It literally makes no sense.. that's why i dropped a note through the vendors door.. 

As I say I reported the agent to the property ombudsman to review it... but there is literally nothing they could do as they would essentially need the agent to confess.. 

One day i'll get over it.. xD

HCIMbtw

Grumpy_chap said:

On the last point:
"in the meantime my mortgage will be reverting to SVR at the end of September so I can look forward to paying an extra £600pm on my mortgage until we find somewhere."
How large is your mortgage that the increase in payments will be £600 pcm going from a "deal" rate to SVR? 
Using some assumptions and on-line tools, it would be a mortgage of around £325k outstanding, but I have also read the OP that is about the total purchase price of current house so you have not built up any equity anywhere along the line.  That does not seem quite right, but it was a long OP so maybe I lost the train somewhere.

Think I exaggerated a little.. just did a little calculation then, £212k ish outstanding, increase in rate of 2.8% from 1.7 to 4.5... so about £497pm extra