Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • happytails
    • By happytails 27th Jul 17, 4:20 PM
    • 1,527Posts
    • 9,230Thanks
    happytails
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 4:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 4:20 PM
    So the other thread has gone awol so thought i'd start a new one! It was keeping me sort of sane during the house buying/selling process!

    A place to document your timelines and discuss the triumphs and woes of moving house!




    My timeline -
    Offer received and accepted on our house 17/07
    Offer made and accepted on the house we want 17/07
    Solicitors Instructed 17/07
    Meeting with mortgage advisor, all docs given 18/07
    Mortgage application submitted to Nationwide 19/07
    Documents picked up and filled in from Solicitor 19/07
    Documents and ID returned to Solcitor 20/07
    Valuation booked 20/07
    Solicitor composes draft contract & starts local searches 25/07
    Valuation carried out 26/07
    Solicitor gave us our fixtures and fittings form for purchase and requested marriage certificate 26/07
    My buyers valuation carried out 27/07
    Mortgage offer given 27/07

    Sarah

    Official MoneySavingExpert.com Insert:

    Hi all! For more help with your move read our guide:

    50+ House Buying Tips
    Last edited by Former MSE Andrea; 06-10-2017 at 10:50 AM.
    Sarah,

    Trying to move up the house ladder in 2018, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 249
    • SparkyGrad
    • By SparkyGrad 12th Apr 19, 12:43 PM
    • 42 Posts
    • 43 Thanks
    SparkyGrad
    Any Guesses of exchange date??????????
    Before the end of a year, but I wouldn't like to guess which one.
    • bland
    • By bland 12th Apr 19, 2:08 PM
    • 15 Posts
    • 2 Thanks
    bland
    This has been an eye opener this thread. Didn't realise things took this long. Been a while since I went through all this but seems things are taking much longer nowadays.
    • Jay_p
    • By Jay_p 12th Apr 19, 8:17 PM
    • 1 Posts
    • 0 Thanks
    Jay_p
    Hi FTB here and I need some help with the exchange process (let me know if I am posting this in the wrong place!)

    Offer accepted 7th December, solicitors instructed about a week later, mortgage offer 14th January. Searches ordered late January and these took about 6 weeks to come back. This is a chain free transaction so I was hoping it would be straightforward (wishful I guess.)

    I was sent the report and all the paperwork from the solicitor on Monday (evening) this week with the contract to sign for exchange - we are aiming for a completion date of the 23rd April. I queried two of the documents sent as they referred to a property in another city so I didn't understand the relevance, one crucial document was missing and also the solicitor has the recommended she order the Crossrail/HS2 search I instructed her to order this.

    Since Monday I've heard nothing back, I've emailed and called the office several times and she won't get back to me. I've now had a message from the seller (we are in direct contact) saying that exchange was meant to take place on Wednesday but their solicitor cannot get in contact with my solicitor. I was not made aware of this deadline when I was sent the documents on Monday night - also it appears that the Crossrail search will take 5 days so I don't know why she committed Wednesday to the seller's solicitor when she only told me about this search on Monday. Her communication through this process has been extremely poor.

    What are my next steps here? I obviously do not want to sign a contract or hand over a deposit until the final search is back and the missing document is supplied.
    Is it normal for a solicitor to not respond to you at all especially at crucial times? Is it normal to be given such little time to review documents? I literally received 30+ documents to review on Monday night, I cannot believe she was expecting me to review these and be in a position to exchange 24 hours later.

    Can I order the search myself for peace of mind that it is actually happening?

    Is there any chance in hell I'm going to complete on the 23rd April?

    I've tried to stay calm through this whole process but that message from the seller has just tipped me over the edge so I need any advice I can get!
    • septemberbaby
    • By septemberbaby 12th Apr 19, 9:14 PM
    • 62 Posts
    • 9 Thanks
    septemberbaby
    Before the end of a year, but I wouldn't like to guess which one.
    Originally posted by SparkyGrad
    fab
    • pattypan4
    • By pattypan4 13th Apr 19, 6:23 AM
    • 35 Posts
    • 56 Thanks
    pattypan4
    jay-p sounds as though a very inexperienced junior is dealing with you. I would have spoken to the senior by now. It all sounds very slipshod. My experience is completely different, I get information as soon as my solicitor receives it, plus I get good advice on what to do. I don`t bother my solicitor too much by annoying `chasing`, don`t need to. My selling process is going well, will be 12 weeks to exchange. Buying process, involving bits of missing documentation, 8 months so far and no exchange yet. Have you actually been to the solicitors office to speak face to face?
    • pattypan4
    • By pattypan4 13th Apr 19, 6:40 AM
    • 35 Posts
    • 56 Thanks
    pattypan4
    chunky have you exchanged yet? I see you are waiting for probate results. We once had to wait for probate and one month morphed into another, took 6 months in the end


    I have been packed for 2 months, anyone else? Waiting and hoping. No intention of pulling out or defaulting on my buyers but we all need patience. Has been beyond stressful
    • letitbe90
    • By letitbe90 13th Apr 19, 10:12 AM
    • 224 Posts
    • 224 Thanks
    letitbe90
    chunky have you exchanged yet? I see you are waiting for probate results. We once had to wait for probate and one month morphed into another, took 6 months in the end


    I have been packed for 2 months, anyone else? Waiting and hoping. No intention of pulling out or defaulting on my buyers but we all need patience. Has been beyond stressful
    Originally posted by pattypan4
    Was that waiting 6 months after the probate was applied for? Do you happen to know how long the wait was after it was applied for
    • Slinky
    • By Slinky 13th Apr 19, 10:31 AM
    • 5,888 Posts
    • 27,849 Thanks
    Slinky
    We bought a probate property as a cash buyer, which took 6 months to go through even though probate had been granted. It took the vendor that long to get around to clearing stuff out of the house.
    • babyblade41
    • By babyblade41 13th Apr 19, 10:37 AM
    • 594 Posts
    • 650 Thanks
    babyblade41
    Was that waiting 6 months after the probate was applied for? Do you happen to know how long the wait was after it was applied for
    Originally posted by letitbe90
    If it's any help for my late mother probate took from February to July depending on how the estate is done and how complex ..that was just to get to application , then after that I think it was 2-3 months from applying to getting probate granted

    All IHT has to be paid and settled first
    • letitbe90
    • By letitbe90 13th Apr 19, 1:45 PM
    • 224 Posts
    • 224 Thanks
    letitbe90
    If it's any help for my late mother probate took from February to July depending on how the estate is done and how complex ..that was just to get to application , then after that I think it was 2-3 months from applying to getting probate granted

    All IHT has to be paid and settled first
    Originally posted by babyblade41
    My sellers (widow) husbands probate was submitted a week or two ago and the agent advised me that the solicitor handling it said it will be granted within a week or two. Hoping it isnít them telling me porkies and it is just a simple estate.
    • pattypan4
    • By pattypan4 16th Apr 19, 4:19 PM
    • 35 Posts
    • 56 Thanks
    pattypan4
    yes always best to live in hope. I am on the cusp of exchange on buying first as I am moving in chunks, dealing with a low arch hence a lwb low van, several trips spread over 3 days in a week. Best for me as I am only me to supervise everything. Very stressful times tbh, I feel as though I have lost months out of my life. One document after another. 36 weeks and counting

    Selling was quicker but the stress was much greater, 40+ enquiries and several were complicated. My buyer is keen and ready to complete 2 days after my last lwb trip. 12 weeks for her. I kid you not, I am never moving again


    letitbe, That probate was a buyer and she had already started the ball rolling. In the end we waited 6 months and then she wanted in 3 days before christmas and we had to find rented
    • pattypan4
    • By pattypan4 17th Apr 19, 8:54 AM
    • 35 Posts
    • 56 Thanks
    pattypan4
    Buyer fibs I accepted a lower offer because she said she was a cash buyer and had everything in place. I heard, only today, that she has not yet had her mortgage offer.
    • chunkytfg
    • By chunkytfg 17th Apr 19, 10:51 AM
    • 640 Posts
    • 709 Thanks
    chunkytfg
    chunky have you exchanged yet? I see you are waiting for probate results. We once had to wait for probate and one month morphed into another, took 6 months in the end


    I have been packed for 2 months, anyone else? Waiting and hoping. No intention of pulling out or defaulting on my buyers but we all need patience. Has been beyond stressful
    Originally posted by pattypan4
    Haha I wish we had!

    Probate was only applied for 18 weeks after we had our offer agreed! We were told initially it had not only been applied for but had been granted! If it doesn't hurry up our mortgage offer will expire and I have no intention of reapplying for the same amount as initially agreed!
    Those who risk nothing, Do nothing, achieve nothing, become nothing
    MFW #63 £0/£500
    • ka7e
    • By ka7e 18th Apr 19, 12:44 PM
    • 2,387 Posts
    • 1,924 Thanks
    ka7e
    Buying/selling for the first time in 35 years, so it feels like we're FTBs.


    28/1 We accept offer on our house, it's been on the market for 17 weeks and there is a lack of suitable (to us) properties around. Buyers are aware the sale is dependent on us finding a property. They are FTBs with mortgage offer in hand. We want to downsize, but smaller houses are snapped up for BTL due to local conditions. Solicitors engaged.



    31/1 Valuation carried out.


    11/2 Our ID checks carried out.


    22/2 We get a phone call from a surveying firm to arrange a valuation. Checking with our EA, our buyers have been advised to apply for a better mortgage rate and have re-applied with a different lender. We have offered on a property, but it is turned down. Decide to wait on result of 2nd valuation before proceeding.


    26/2 2nd valuation.


    28/2 We sign contracts and contents paperwork and it is returned to our solicitors.


    8/3 Buyers mortgage application has gone to audit. Still awaiting decision. House we previously offered on is now SSTC.


    12/3 View a property (empty) that could be a possibility. The EA is aware of our interest, but we don't offer as still no news on our buyer's mortgage.



    26/3 Make tentative offer on preferred property, refused, counter-offer, we offer again and it's accepted. Still no news on buyer's mortgage application, other than that their advisor has left the company and it is now being dealt with by a manager. 4 weeks since valuation!


    29/3 Buyer's mortgage offer approved.


    5/4 Searches authorised for new property.


    17/4 Contracts arrive at our solicitors from seller. Our buyers are now chaffing at the bit and chasing our EA - they hoped for an April completion! Are advised it will probably be early June.
    "Cheap", "Fast", "Right" -- pick two.
    • lumpyspaceprincess
    • By lumpyspaceprincess 19th Apr 19, 4:26 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    Seems like it's time for me to join this thread!

    Timeline:

    04/03 - offer accepted
    08/03 - mortgage application submitted to Kensington
    19/03 - posted instruction to Sols
    20/03 - Survey done
    21/03 - Kensington request proof of deposit source, and surveyor requests Damp & Timber survey ASAP.
    02/04 - Damp & Timber report in, submitted to Kensington
    10/04 valuation back finally, with a retention due to the work needed.
    11/04 Negotiated a discount on the price for work,case going back to Kensington underwriters.
    17/04 Mortgage offer issued.

    Sols confirmed searches have gone off but we're looking at end of May onwards for completion. Chain free so fingers crossed!
    Last edited by lumpyspaceprincess; 20-04-2019 at 9:49 PM. Reason: Brevity!
    § £25k paid off with Stepchange DMP § Debt Free 01/09/17 §
    § Saving for a house deposit by '19 § Savs @ £16400 §


    • Webber28
    • By Webber28 20th Apr 19, 8:13 AM
    • 2 Posts
    • 0 Thanks
    Webber28
    Hi all, my time line so far
    22 & 25 March viewed the house
    28 March offer made and accepted
    2nd April booked survery
    4th April survery completed and solicitor instructed and all docs sent in
    11 April searches complete
    18th April all additional questions and property info pack etc received from seller.
    No chain, seller has already moved out, so fingers crossed for quick exchange
    • martin1959
    • By martin1959 20th Apr 19, 6:56 PM
    • 339 Posts
    • 313 Thanks
    martin1959
    After working in the industry, and buying several properties with both cash and mortgage, it is quite possible to go from sale agreed to exchange within 4-6 weeks if:

    Everyone is on the ball
    Received papers/forms are returned to lender/ solicitor same or next day
    Constant chasing of estate agents, solicitors to keep papers at the top of the pile.

    In current case..

    Sale agreed and offer accepted 1st April
    Draft contracts sent to buyers solicitor 3rd April
    Buyers solicitor requests searches 5th April
    Buyer mortgage underwritten and agreed 12th April
    Survey carried out 18th April

    Just waiting for buyers mortgage offer and searches returned

    We have incentivised buyers by offering £2k reduction in PP if they exchange by 10th May, allowing six weeks for the process. Needless to say, that are all over their solicitor to make it happen....otherwise it will cost them £2k ��

    In my opinion, key to a fast exchange is having a chain as small as possible (only 2 in ours)
    Everyone using experienced High street EA who are hungry for their fee (not Purple Pricks or their ilk)
    Everyone using a High St local solicitor where you can call in with papers and to sign forms.
    20 plus years as a mortgage adviser for Halifax (have now retired), and I have pretty much seen it all....
    • CraigSavage
    • By CraigSavage 20th Apr 19, 7:48 PM
    • 13 Posts
    • 2 Thanks
    CraigSavage
    I’m at the same stage as yours

    Aip: 20/2/19
    Full app: 3/4/19
    Valuation booked: 3/4/19
    Valuation completed: 12/4/19

    Been waiting since and mortgage advisor hasn’t requested for anymore info yet so fingers crossed

    I’m self employed and only needed to show last 13 weeks of books as I’m sub contractor
    Mortgage is from Halifax
    • IcePigeon
    • By IcePigeon 22nd Apr 19, 1:47 PM
    • 3 Posts
    • 1 Thanks
    IcePigeon
    Waiting to exchange too, FTB no onward chain, leasehold property
    13th March - First Viewing
    16th March - Second Viewing
    18th March - Offer accepted
    20th March - DiP from Nationwide
    29th March - Full application submitted
    3rd April - Solicitors instructed
    11th April - Valuation took place this morning and mortgage offer sent via text in the evening.
    12th April - Searches paid for (advised by solicitors to wait till offer received) and survey booked
    16th April - Survey completed
    18th April - Survey received (didn’t throw anything up I wasn’t expecting)

    Waiting on searches to be completed and I’m not sure at the moment if they’ll be a delay as my deposit is coming from my LISA. Hoping it will all continue to carry on at the same pace.
    • Webber28
    • By Webber28 24th Apr 19, 2:01 PM
    • 2 Posts
    • 0 Thanks
    Webber28
    Received contracts today 3 queries needed to be raised from it 😁
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,784Posts Today

7,323Users online

Martin's Twitter
  • Have a great Easter, or a chag sameach to those like me attending Passover seder tomorrow. I?m taking all of next? https://t.co/qrAFTIpqWl

  • RT @rowlyc1980: A whopping 18 days off work for only 9 days leave! I?ll have a bit of that please......thanks @MartinSLewis for your crafty?

  • RT @dinokyp: That feeling when you realise that you have 18 days of work and only used 9 days of your annual leave! Thanks @MartinSLewis h?

  • Follow Martin