Waiting for exchange date- been nearly 6 months. Feel like it's never going to end!

PawelK

Km2020 said:

We accepted an offer on our house mid august, and got an offer accepted on the house we are buying on 25th August. There was a bit of a delay with mortgages from our buyers (they are first time buyers), and their searches etc but they have all come back now.

We have been told that the upper chain has completed everything, but still awaiting complete confirmation.

we have signed our contracts from both ends, and out sellers have signed etc (solicitors advised us to do this so they can hold on file till needed) 

my solicitor has been trying to get hold of our buyers solicitor to get confirmation that they hold signed contracts in readiness

myself and my solicitor have been trying to find out what is happening in the upper chain, but no one seems to be getting back to us (we've been trying for a week)

i appreciate it's a very busy time but we seem to e going 1 step forward and 2 steps back

Please tell me I'm not the only person who feels like this? 

Hopefully will give you some hope. When I was purchasing my property, we got stuck on a particular query or two for at least a month or longer (don't remember exactly) to the point when the seller wanted to pull out having wrong assumption my sols are holding it while in fact it was their sols that did not reply to mine on a issue they raised. After few attempts I eventually had to step in and having spoken to all the parties (ea, sellers sols and mine) I had to ask my sols to approach the seller's ones and explain their question differently as clearly the repetition of their original question remained unanswered. At the end it turned out that the other sols thought they already replied within one of their lengthy answers but in fact they didn't! So, to make sure happy ending to my story, I recommend persistence and regular chasing of all parties involved and if necessary "interpretation of the requirements" in other words. 😉

Mineral1

JessJ23425 said:

Km2020 said:

amandacat said:

I am in a similar ish position. 

Only 2 in our chain. Was meant to exchange Friday but last minute minor issue. 

Was told Monday morning (yesterday) it was resolved and they’d look to exchange.
Heard nothing all day. 

Nothing so far today, just called for an update and legal assistant took a message. 

sorry to hear you're going through this. 
I feel like solicitors/estate agents have taken on too much and just cannot cope with the demand. Just really disappointing when you get told one then and then it doesn't happen, and no one responds to you.

Definitely agree, although it's not a very popular stance around here for some reason.. have posted about it before and been told to pay more if I want good service. Well fool me for believing what's advertised I guess!

Hoping you get some information and progress soon 🤞

I also agree and have had that sort of response back - no point saying to use a more expensive one when they all offer the same service on paper and you have no way of telling which is good.

Km2020

Thank you all for your reply

Unfortunately our situation gets worse , we've just been informed by our solicitors that ojt buyers are now waiting for their gifted deposited to be accepted by their bank. Their mortgage was completed in October so why this is now coming up I don't know 
I could literally cry it just gets worse every day

We are constantly chasing people to get information,  otherwise we literally wouldn't be told anything 

MaryNB

Km2020 said:

Thank you all for your reply

Unfortunately our situation gets worse , we've just been informed by our solicitors that ojt buyers are now waiting for their gifted deposited to be accepted by their bank. Their mortgage was completed in October so why this is now coming up I don't know 
I could literally cry it just gets worse every day

We are constantly chasing people to get information,  otherwise we literally wouldn't be told anything 

I'm guessing it arose during the conveyancing process rather than during the mortgage application. My lender didn't even ask for a gifted deposit letter. My solicitor (acting for my lender as well) asked for a huge amount of information. Took weeks to get it all cleared because she was vague about what exactly she needed.

WiseOwl00

I feel your pain. There's only ourselves, the vendor, and then the empty property the vendor is purchasing in our chain. The vendor's onwards sale was sorted before Christmas, so we're all just waiting on this. We've been in the enquiry stage for 2 weeks now - I know my solicitor had already sent 2 sets of enquiries, look like she's since sent a third. All I know is we're waiting for the replies to this third set, and for our lender to acknowledge something raised. I don't even know what the enquiries are and why they keep getting passed backwards and forwards. All I know is everyone is getting frustrated, and I feel like we're never going to get there. We don't even have a proposed date for exchange/completion. 

Km2020

thank you all for replies

wanted to post a update

so our buyers are ready now and they got their mortgage sorted, the rest of the chain are ready to go above us but there seems to be a problem with getting hold of the top of the chain. the person who has been dealing with this informed me myself and the rest of the chain would get an update Friday as we never did

we are constantly chasing people, our estate agents is chasing the upper chain as well as the solicitor as no one is getting back to anyone. Our buyers are 1st time buyers and bottom of the chain so they are keen to move in ASAP but obviously this cannot be done until the rest of the chain is complete

myself and my husband were going to move into my parents to allow our buyers to move in , but this is not possible due to out mortgage and we would have to pay a big fee if we were to do that (which we can't afford)

tigerlily74

We get out early redemption fee back when we successfully port our mortgage to a new property, we have 6 months from redemption to do this. This may be an option for you to consider. 

Km2020

tigerlily74 said:

We get out early redemption fee back when we successfully port our mortgage to a new property, we have 6 months from redemption to do this. This may be an option for you to consider. 

we were told this, but my worry is that the whole chain above may fall apart as we seem to be getting nowhere, then we wouldn't get the fee back 

Km2020

Km2020 said:

tigerlily74 said:

We get out early redemption fee back when we successfully port our mortgage to a new property, we have 6 months from redemption to do this. This may be an option for you to consider. 

we were told this, but my worry is that the whole chain above may fall apart as we seem to be getting nowhere, then we wouldn't get the fee back 

we were also told it had to be on the property we were purchasing and it could not be on a different property 

FTB_Help

Km2020 said:

thank you all for replies

wanted to post a update

so our buyers are ready now and they got their mortgage sorted, the rest of the chain are ready to go above us but there seems to be a problem with getting hold of the top of the chain. the person who has been dealing with this informed me myself and the rest of the chain would get an update Friday as we never did

we are constantly chasing people, our estate agents is chasing the upper chain as well as the solicitor as no one is getting back to anyone. Our buyers are 1st time buyers and bottom of the chain so they are keen to move in ASAP but obviously this cannot be done until the rest of the chain is complete

myself and my husband were going to move into my parents to allow our buyers to move in , but this is not possible due to out mortgage and we would have to pay a big fee if we were to do that (which we can't afford)

To quote Dory: "just keep swimming, just keep swimming"

It's all going to be worth in in a few weeks when you move in 🤞