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Completion this Friday, still no exchange. Slow buyer solicitors
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BirchFozz
Posts: 16 Forumite
Hey all - our buyers been with us since March. He’s a FTB.
He didn’t get mortgage offer till July/August (long story, but lenders were funny about EWS1).
His solicitors have been painfully slow and not responsive to my solicitor.
We’ve finally agreed to complete this Friday - but we’ve still not exchanged. Despite chasing!!
yesterday we had an update that they were waiting for lender to confirm funds to be released..
anyone else had this nightmare?!
His solicitors have been painfully slow and not responsive to my solicitor.
We’ve finally agreed to complete this Friday - but we’ve still not exchanged. Despite chasing!!
yesterday we had an update that they were waiting for lender to confirm funds to be released..
anyone else had this nightmare?!
We have no faith completion is going to go ahead but have to pack as if it will 
Anyone had any similar situation?
Anyone had any similar situation?
Also we WOULD rearrange completion but. Our solicitors are changing name Monday next week, so we’d have to get our mortgage offer reissued.
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Comments
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Sounds normal. Exchange and completion can happen on the same day.0
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I've had simultaneous exchange and completion many times before. The main thing is to make sure you have a mortgage redemption statement at the ready with your completion date.
I do wonder if you would need a new mortgage offer just because the solicitor's name is changed. That's such a minor part and the new name / firm will be a successor in title2 -
This is normal. It seems like they are doing it the same day especially if they have ordered funds.BirchFozz said:Hey all - our buyers been with us since March. He’s a FTB.He didn’t get mortgage offer till July/August (long story, but lenders were funny about EWS1).
His solicitors have been painfully slow and not responsive to my solicitor.
We’ve finally agreed to complete this Friday - but we’ve still not exchanged. Despite chasing!!
yesterday we had an update that they were waiting for lender to confirm funds to be released..
anyone else had this nightmare?!We have no faith completion is going to go ahead but have to pack as if it will
Anyone had any similar situation?Also we WOULD rearrange completion but. Our solicitors are changing name Monday next week, so we’d have to get our mortgage offer reissued.
This is how my sale went last month. They didn't tell me that way the plan but they wanted the money in before exchange. We ended up exchanging 3pm on Thursday and completion 9am Friday.0 -
Going through this exact scenario now. I was pushing for exchange this week but our solicitor changed name and our mortgage offer needs to be reissued with the new firm name. Our offer expires end of this month and no one’s responding to emails or answering calls.I do wonder if you would need a new mortgage offer just because the solicitor's name is changed. That's such a minor part and the new name / firm will be a successor in title1 -
Similar threads to this on the forum. Vendors seem to think they lose the ability to negotiate once a deal is done. If short notice exchange to completion doesn't suit you, then ask for more. Insist on two weeks exchange to completion to enable you to get your house in order (excuse the pun). Even two weeks is short when you're packing up your life. the buyer is hardly going to pull out and would probably thank you for building in breathing space for all.Signature on holiday for two weeks0
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Are prices down or up in your location since March? That might affect how compliant you want to be.
No reliance should be placed on the above! Absolutely none, do you hear?0
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