Delaying exchange of contracts

Pow11890

We are currently in the process of buying our ftb. My husband & I applied for lift insurance however due ongoing investigations my partners LI got deferred. Mine has been approved. We are set to exchange contracts within the next few weeks. However we want to ensure we both have LI insurance to protect each other. What’s the likelihood we can delay exchange based on this?? How much can we
Pushback? What avenues can we use to ensure we get a max window to get these medical apps finished so he can then reapply for the LI? Any guidance appreciated. Thank you 

Pow11890

Apologise - meant life insurance** thank you.
 AK10888 said:

We are currently in the process of buying our ftb. My husband & I applied for lift insurance however due ongoing investigations my partners LI got deferred. Mine has been approved. We are set to exchange contracts within the next few weeks. However we want to ensure we both have LI insurance to protect each other. What’s the likelihood we can delay exchange based on this?? How much can we
Pushback? What avenues can we use to ensure we get a max window to get these medical apps finished so he can then reapply for the LI? Any guidance appreciated. Thank you 

canaldumidi

Why wait?

Exchange contracts and buy the insurance whenever you are ready. Unless you are seriously concerned about being hit by a bus in the the few days/week between Exchange and takig out the policy? Just be sure to look both ways before crossing....

Pow11890

Concerned we may not get cover? Awaiting review from the medical apps & this could take us months! 

canaldumidi

So what will you do if you don't get cover? Never purchase a property?

Pow11890

canaldumidi said:

So what will you do if you don't get cover? Never purchase a property?

I am not suggesting this! I just want to ensure the cover is on place
for Protection hence wondering if there was a manner in which I could delay my exchange by a few weeks so we could do the necessary.

turnitround

If I was in a chain and someone wanted to delay for this reason I would not be happy at all. House buying is stressful and time consuming enough without someone wanting to delay the process for no proper reason.

Pow11890

turnitround said:

If I was in a chain and someone wanted to delay for this reason I would not be happy at all. House buying is stressful and time consuming enough without someone wanting to delay the process for no proper reason.

Neither parties are apart of a chain.. 

Slithery

You can attempt to delay exchange for whatever reason you wish. Whether or not the vendors will accept your reason and agree is up to them.

user1977

Or you just don't give them a reason and drag things out in an irritating fashion. I'm sure your solicitor will be able to assist...

Thrugelmir

AK10888 said:

Concerned we may not get cover? Awaiting review from the medical apps & this could take us months! 

Then your vendor isn't to be messed around. Expect the property to be remarketed if there's no clear time frame.