Need some advice

h_cc

Hi, we are in the process of selling and buying. We have a property under offered in early March and today received a call from estate agent and said the buyer is still waiting for mortgage decision.

This stress me out as buyer's anticipated move in date is mid of April and we haven't conclude missive yet.

Is this normal? EA said that's pretty normal and nothing to worry about.

Am I overthinking?
Thanks.

MovingForwards

Yes it's normal

Yes you're overthinking it
Everything is moving a lot slower due to the pandemic and the amount of transactions currently taking place.

Lost_Pilot

Things are taking a little longer at the moment as underwriters and lenders are pretty busy.
I think an end of April move in date is a little ambitious! 

MovingForwards

Lost_Pilot said:

Things are taking a little longer at the moment as underwriters and lenders are pretty busy.
I think an end of April move in date is a little ambitious! 

Not in Scotland it isn't, things move a lot quicker up here.

K_S

MovingForwards said:

Lost_Pilot said:

Things are taking a little longer at the moment as underwriters and lenders are pretty busy.
I think an end of April move in date is a little ambitious! 

Not in Scotland it isn't, things move a lot quicker up here.

@MovingForwards I don't do a lot of Scottish mortgages but when I do it almost always goes through to completion with minimum faff. Just the home report takes out so much unnecessary to-and-fro in the process.

MovingForwards

K_S said:

MovingForwards said:

Lost_Pilot said:

Things are taking a little longer at the moment as underwriters and lenders are pretty busy.
I think an end of April move in date is a little ambitious! 

Not in Scotland it isn't, things move a lot quicker up here.

@MovingForwards I don't do a lot of Scottish mortgages but when I do it almost always goes through to completion with minimum faff. Just the home report takes out so much unnecessary to-and-fro in the process.

It's not just that, the searches are done by the seller too. It really is a total package buying up here. All a buyer needs to do is find a solicitor, get a mortgage offer and sit back as it's dealt with.

lonibra

Such a civilised process. Time wasting sellers have some skin in the game and so don't put their property on the market to "test out the waters", egged on by estate agents quoting unrealistic valuations.

Time wasting buyers have to commit early on.

Avoids the waste of time, money of the same property being subject to repeated surveys, repeated searches for each prospective buyer. 

Hopefully at some point the powers that be will adopt some of it at least back here.

MovingForwards

@lonibra the people didn't want it when a similar version was tried (home information packs), instead they buyers still insisted on their own survey and whatever else.