PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

The NEW waiting to exchange thread...

1…3839414344…2053

Comments

  • juniordoc
    juniordoc Posts: 366 Forumite
    We have our mortgage application submitted, instructed solicitors on 7/9 and paid then to start searches, and have our valuation booked for 14/9 for a chainfree leasehold flat. Any estimates on how long it usually takes to reach exchange from this point?
    We are first time buyers and feeling a bit out of the loop.
  • Returntosender
    Returntosender Posts: 32 Forumite
    Been waiting to exchange for weeks now - waiting for some information from the vendor and she's dragging her feet. Incredibly stressed right now.
  • insertusername
    insertusername Posts: 20 Forumite
    First Anniversary
    We seem to have been waiting ages for our exchange to go through, mortgage is in place and all of the searches etc have been done. Vendors solicitors have been quite slow and haven't been providing suitable responses to our solicitor.

    As a side point we have had to have out a couple of indemnity policies for a couple of small issues, does anyone know if the lenders are likely to be OK with these?
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Nothing has happened so far today - Still waiting on drainage searches we ordered 18th August!
    Mortgage offer received in post.
    Solicitor going through enquiries with sellers solicitor this week. Wonder how long it will take from completion to exchange?
  • Surrey_EA
    Surrey_EA Posts: 2,042 Forumite
    First Anniversary First Post
    edited 11 September 2017 at 4:57PM
    juniordoc wrote: »
    We have our mortgage application submitted, instructed solicitors on 7/9 and paid then to start searches, and have our valuation booked for 14/9 for a chainfree leasehold flat. Any estimates on how long it usually takes to reach exchange from this point?
    We are first time buyers and feeling a bit out of the loop.

    The usual answer is how long is a piece of string! There are many variables that can affect the length of time your particular purchase will take.

    Do not be surprised if the process lasts 12 weeks, or maybe longer.

    Have a read here:

    http://www.lawsociety.org.uk/news/stories/consumer-guide-to-buying-a-flat/
  • happytails
    happytails Posts: 1,554 Forumite
    First Anniversary Combo Breaker First Post
    Just had a big old read through from about this time last month when my sale/purchase fell through.

    Still waiting for a buyer, good news is the house we want is currently still on the market though not sure how long for as they are desperate for a sale now as they managed to keep their part of the chain up and top ones are getting impatient.

    Hoping to be back here real soon, we have someone coming back tomorrow for a 2nd viewing so fingers crossed!
    DFW Total £21,800 to clear by Dec 2022
    MFW Total £184,950 £179,066 to clear by 2035
  • toc25
    toc25 Posts: 237 Forumite
    Good luck Happytails must be incredibly frustrating. A 2nd viewing must be a positive thing though, I've not even had a 2nd viewing of the house I'm buying. :o

    Hopefully you will be back on here soon :)
  • tt07
    tt07 Posts: 98 Forumite
    Photogenic First Post First Anniversary Combo Breaker
    I can join here now mortgage offer received electronically yesterday, now start the journey of the next bit to exchange then on to a completion.

    Next step contracts to be sorted as all searches outside are done.
  • bighitter4654
    bighitter4654 Posts: 15 Forumite
    We pulled out of our purchase about 6 weeks ago. It was a new build and we just felt really uncomfortable with it being leasehold and the fact that leasehold on houses is being reviewed by the government. So......we found ourselves a lovely 1930's freehold house and we exchange today hopefully, with completion on the 28th. It's been a stressful time as we sold our house and have been living with the in-laws for a few weeks now, but I'm sure we made the right decision. Good luck everyone!
  • dpearson86
    dpearson86 Posts: 57 Forumite
    I'm at 12 weeks since I made the offer today and the vendors wanted to be out by now (their children are starting school) but no closer to completion or exchange.

    I'm a FTB and the house we are buying is in a chain of 5/6 properties. The estate agent isn't interested in chasing up if everything is moving in the rest of the chain anymore :( Solictors understandably don't know as they aren't the contact point for everyone.

    This not knowing is terrible, especially as we've been told we are just waiting on everyone else and dates now.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards