What's the next step after submitting mortgage and getting a conveyancer?

Savingforahouse123

Hey, I've had a house offer accepted and submitted my mortgage application and got a conveyancer. What should I be doing next?

housebuyer143

Savingforahouse123 said:

Hey, I've had a house offer accepted and submitted my mortgage application and got a conveyancer. What should I be doing next?

Ordering the searches and any surveys you want doing. 

Savingforahouse123

housebuyer143 said:

Savingforahouse123 said:

Hey, I've had a house offer accepted and submitted my mortgage application and got a conveyancer. What should I be doing next?

Ordering the searches and any surveys you want doing. 

Sorry i might sound silly but I thought this is what the conveyancer does? Are these separate things I need to do outside of using the conveyancer?

Megaross

Awaiting the conveyancers instructions.

Things you can do:
Save money for all the costs related to moving to a new home.
Considering the work you'll need to do once moved, when you'll do it and what it will cost. Picking furniture.
Having a perv at the home interior magazines for inspiration.
Planning your budget.
Making a list of all the addresses you'll need to change.
Eating crisps.
Staring off into the middle distance wondering what "Los Del Rio" is doing these days.

You're early on in the process, it's a patient game this house buying business.

So mostly, wait around twiddling your thumbs or anything else that comes to hand and chase it up occasionally if you don't hear anything for a while.

babyblade41

Nothing until the chain is complete, don't start racking up legal fees until then

housebuyer143

housebuyer143 said:

Savingforahouse123 said:

Hey, I've had a house offer accepted and submitted my mortgage application and got a conveyancer. What should I be doing next?

Ordering the searches and any surveys you want doing. 

No, the conveyancer won't arrange a survey. Many will only start the searches once you ask them too and pay any associated fees.

trakky14

Once the chain is complete your solicitor will request draft contracts which will show the boundaries of the property on the title plan. If they resemble what you believe to be the property then you authorise them to request the searches. They send off for those. These take 2-4 weeks on average, depending where you live. While all that is going on make sure you get your survey if you are having one (you should unless the house is brand new, there are 3 different levels of survey). You can request a survey before a mortgage offer but it's often wise to wait till you mortgage is agreed to save you losing money if you couldn't get a mortgage. The bank will also want a valuation to check the house is worth what you are paying. Mortgage application to offer timescales massively vary from a week to over a month. 

Once searches and survey are done the solicitor will make enquiries with your seller...basically a list of questions they want to clarify. Once questions are answered, mortgage offer is in place and everyone is happy contracts can be exchanged. To get to this point can take months! You can technically exchange and complete on the same day but usually there is a week or so between to allow money to be arranged. Allow at least 3 months for this process and be prepared to chase your solicitor and estate agent a lot!!!! Its a stressful process, best of luck!

trakky14

Also forgot to say once your solicitor sends you the initial paperwork they should include a guide to the process and what will happen next, if not Google it as there is loads of info online