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    • happytails
    • By happytails 27th Jul 17, 5:20 PM
    • 1,515Posts
    • 9,224Thanks
    The NEW waiting to exchange thread...
    • #1
    • 27th Jul 17, 5:20 PM
    The NEW waiting to exchange thread... 27th Jul 17 at 5:20 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


    Official Insert:

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

    50+ House Buying Tips
    Last edited by MSE Andrea; 06-10-2017 at 11:50 AM.

    Trying to move up the house ladder in 2018, running a business with 3 kids in tow & slowly going crazy!
    Member No43 - % Challenge
Page 84
    • JoJo1978
    • By JoJo1978 1st Dec 17, 6:20 PM
    • 345 Posts
    • 425 Thanks
    Hello to the new people today : )
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • archersluck
    • By archersluck 1st Dec 17, 7:37 PM
    • 619 Posts
    • 2,263 Thanks
    Snap junior doc!

    We completed today, at 16:40! Very glad we weren't waiting outside in a removal van.
    Too late to collect the keys and we're also FTB in rented so no rush.

    We'll pick them up tomorrow morning, hope too feel a bit more excited then as it's all a bit of an anticlimax right now!

    Saving for a deposit: 11,621.15
    • Cheery Daff
    • By Cheery Daff 1st Dec 17, 8:32 PM
    • 8,143 Posts
    • 40,190 Thanks
    Cheery Daff
    Ooh, congratulations archersluck! Love it when people do actually move
    Mortgage over payments since Feb 2018 = 419.34
    • Tiglath
    • By Tiglath 1st Dec 17, 8:47 PM
    • 3,555 Posts
    • 11,584 Thanks
    For my own sanity I'm going to summarise where we are.

    Mid-August - had our offer accepted on the house we want. No rush as our vendor had to find somewhere to buy.
    09/10 - accepted a cash offer from a property developer on our house.
    18/10 - full survey done by our buyer. No issues. Solicitors start paperwork.
    7/11 - he sends round his architect to look at what he wants to do in terms of extensions. All good.
    Meanwhile we're filling out paperwork sent by our solicitor re our sale and our purchase. We hear from our vendor that his offer on an empty property has been accepted. All looks good.

    23/11 - I get a call from our estate agent to say they're worried about our buyer. He's stopped responding to calls and emails. She phones his solicitors who know nothing - he hasn't instructed them re the purchase of our house.

    Major panic. Our dream looks like it's going down the toilet. Estate agent is blase - no problem, we'll just round up some more viewings. No, says DH, if we don't find another buyer immediately, we're pulling the house from the market. Estate agent doesn't get paid, and everyone loses the money they've shelled out already.

    Estate agents immediately go into overdrive and line up a second cash buyer who had asked to go on the waiting list, having viewed the property in October but not put in an offer. Two solicitors and the estate agent are chasing the first cash buyer - no response whatsoever. We give him a deadline of 27/11 to respond.

    27/11 - he phones the estate agent to say he'd decided he'd need to drop 40k off his offer to make it worth his while, but knew we couldn't accept that. Instead of doing the decent thing and officially pulling out, he went abroad. For several weeks. He's dumped.

    28/11 - second cash buyer agrees to match the first guy's offer. He's a property developer who renovates houses in our area; he actually did the house opposite us. The estate agents have dealt with him several times and know he's good.

    28/11 - our mortgage offer is officially approved (after weeks of delay because Natwest originally did it in my name only - another saga).

    29/11 - our solicitor emails draft contract for the new buyer which we returned 30/11. Meanwhile we hear from the vendor's estate agent that his vendors are being a bit slow at completing paperwork but no-one's aware of any problems.

    So that's where we are - our solicitor is good to go on exchange as far as I know, apart from one query re the deposit which is still outstanding. I suspect our vendor needs an answer from his vendor before he can come back on that question. Nobody's suggesting exchanging contracts just yet.

    Our buyer says he's not getting a survey done on our place. Things are apparently progressing between our vendor and his vendor (who is the top of this 4-person chain). So fingers crossed - the top of the chain originally said they wanted to complete second week January - I don't know if that still holds. Would like to exchange before Christmas if at all possible!
    Looking forward to a move to the country!
    • Cheery Daff
    • By Cheery Daff 1st Dec 17, 9:57 PM
    • 8,143 Posts
    • 40,190 Thanks
    Cheery Daff
    Crikey Tiglath, what a fiasco Hope things progress swiftly with no more hiccups for you...

    And... it's the weekend A brief respite from expecting phone calls and nonsense all the time. Have a good one folks!
    Mortgage over payments since Feb 2018 = 419.34
    • Swizzle73
    • By Swizzle73 2nd Dec 17, 9:17 AM
    • 1 Posts
    • 2 Thanks
    Suman170 I was also asked to clear a hire purchase loan by Ulster Bank. The broker didn't warn me I'd be asked to do this and i was lucky i had enough saved to cover the deposit and pay off the loan. I was told the loan offer wasn't subject to this being done but how much they would loan me would.
    I did pay it off (reluctantly) but they drove me mad looking for proof. They wanted to see every statement for the duration of the loan, even after showing them the final statement.
    • Tiglath
    • By Tiglath 2nd Dec 17, 10:10 AM
    • 3,555 Posts
    • 11,584 Thanks
    Ive cleared all the conditions i wasnt sure about on the mortgage, and now i just have to wait (and hope) that my boss emails the lenders to confirm ive passed my probation a bit early.

    I know its cheeky, but were talking 10 days early, and it means i can exchange before christmas!

    Please cross everything for me that hes feeling generous!
    Originally posted by Katapolt
    I was in a similar position; I'd only been in my new job for 4 months when we did the application. I had to send 2 years of payslips as I'd actually had a career break of 5 months before starting the new one, plus a letter from HR saying I was on track to pass my probation (which ends next Monday). Also had to send my job description confirming the role is a Senior Management Function so you have to be authorised by the FCA as 'fit and proper' and part of that is looking at solvency and creditworthiness. Think that swung it in the end, but it was fingers crossed, especially as DH doesn't work and mine is the only income. Good luck with yours
    Last edited by Tiglath; 02-12-2017 at 10:28 AM.
    Looking forward to a move to the country!
    • Tiglath
    • By Tiglath 2nd Dec 17, 10:14 AM
    • 3,555 Posts
    • 11,584 Thanks
    I managed to leave the survey saga out of my update. We're buying a 4-bed house with an acre of land that's actually got two titles, and about 2/3 of it is designated as agricultural land as it's a smallholding. Arranged a homebuyers survey and then the valuer decided they couldn't do that because of the land and outbuildings. The bank couldn't decide what kind of survey would be suitable, and said all they needed was a valuation on the house for their purposes. We knew the outbuildings were quite tatty and we might have to pull some of them down, so in the end we just did a survey on the house itself, which was enough to get the mortgage approved.
    Looking forward to a move to the country!
    • Pumpkim
    • By Pumpkim 2nd Dec 17, 10:16 AM
    • 213 Posts
    • 254 Thanks
    Snap junior doc!

    We completed today, at 16:40! Very glad we weren't waiting outside in a removal van.
    Too late to collect the keys and we're also FTB in rented so no rush.

    We'll pick them up tomorrow morning, hope too feel a bit more excited then as it's all a bit of an anticlimax right now!
    Originally posted by archersluck
    Gosh, I hope it's not that late for us next Friday. We will be sat outside with a removal van

    A mammoth day of packing ahead today.
    • amateur house
    • By amateur house 2nd Dec 17, 11:17 AM
    • 260 Posts
    • 219 Thanks
    amateur house
    Offer made and accepted from my buyer- 02/08/2017
    Offer made and accepted to our vendor- 02/08/2017
    Solicitos instructed 03/08/2017
    My Mortgage offer 03/09/2017
    Buyers lender santander requests structural report 10/09
    Structural report completed 18/09 offer made by Santander 01/10 with conditions that the same insurance policy is taken and they pay out in the first six months If subsidence occurs (even though no subsidence was identified)
    05/10 Santander recieve requested information.
    01/11 Santander reject mortgage offer
    05/11 buyer instructs new mortgage application through broker
    22/11 valuation completed now waiting for written mortgage offer however may need a damp and timber report (there is no visible damp in the property might I add....)

    I am currently losing the will to live!!! Please give me any advice!!
    Originally posted by MrsT88
    Sorry I don't really have any advice
    Your purchase seems to be moving about as quickly as mine, I am trying to not think about it too much and accept it will take as long as it needs to. Be Zen and enjoy the journey...

    The house I am buying needed a damp & timber report despite no visible damp. I got one done and it found woodworm in the floor. It makes you wonder, how do you know if what they tell you is actually true?
    • Slinky
    • By Slinky 2nd Dec 17, 3:56 PM
    • 5,196 Posts
    • 24,011 Thanks
    A final visit from me to update, following our completion in September, done a lot of renovation work, some expected, some not, finally have got a tenant moved into the house today and first month's rent in our account already.

    We had a chap wanted to rent our house, he was waiting to exchange but that all fell through. Fortunately we got somebody else wanting it within a couple of days, I hope his move in today is going OK.

    I dare say I'll be back on this thread in a couple of years when we need to sell the house we're currently in to eventually move into the one we've just let out.
    • Tunny
    • By Tunny 2nd Dec 17, 8:59 PM
    • 4 Posts
    • 7 Thanks
    Weekend, nobody works, kids jumping about planning their new rooms! So need an offer letter!!!

    Beer time!
    • SassySaver88
    • By SassySaver88 2nd Dec 17, 9:47 PM
    • 77 Posts
    • 96 Thanks
    ditto Tunny sure whether to buy a christmas tree or want one for both houses lol
    waiting for offer letter!!
    • MrsT88
    • By MrsT88 2nd Dec 17, 10:12 PM
    • 4 Posts
    • 3 Thanks
    Final offer has been received by the buyer with no obvious ridiculous demands requested. Fingers crossed we will be on our way to completion.
    Amature House really hope yours starts to move soon.
    • Littlebobo1981
    • By Littlebobo1981 3rd Dec 17, 7:28 AM
    • 180 Posts
    • 271 Thanks
    My broker contacted me yesterday (on the weekend can you believe it ) to apologise for the mistake on the valuation and is going to chase up with the bank on Monday ...fingers crossed we can start moving forward again ..can't see us being in by xmas now ...tbh i'm rather relieved as we are away for xmas and would have been a teeny bit manic !
    • MoneySavingSue
    • By MoneySavingSue 3rd Dec 17, 4:23 PM
    • 13 Posts
    • 35 Thanks
    Well I exchanged on Friday! !!!55357;!!!56835; completion date set for the 15th Dec. So pleased that I'm nearly there.
    12k in 2013: member 71. Aim 6000 - total so far: ... waiting to start!
    • Littlebobo1981
    • By Littlebobo1981 3rd Dec 17, 4:45 PM
    • 180 Posts
    • 271 Thanks
    well i exchanged on friday! !!!65533;!!!65533; completion date set for the 15th dec. So pleased that i'm nearly there.
    Originally posted by moneysavingsue
    huge congrats
    • Aliliva
    • By Aliliva 4th Dec 17, 10:34 AM
    • 142 Posts
    • 391 Thanks
    tiny steps to homebuysing
    Long time lurker, but finally I got my fist tiny step in the right direction and i can post here.

    My offer had been accepted (clearly got the call on the weekend I was out of the country, but God bless the inventor of roaming I could actually get the ball rolling a bit)

    Can I rely on the wisdom of the community to help me come up with a reasonable timescale for the whole process? I'm a first time buyer and hoping to complete in February on a no-chain property in SW London.

    Instruct Solicitor -> 04/12/2017 (i've already sent them the details, I just have to pay the fist instalment)
    Instruct Surveyor -> 05/12/2017 (I'm starting to get some quotes, but realistically I won't have time to compare them till this evening)
    Send documents to broker for mortgage application -> 05/12/2017 (have to dig out some paperwork tonight and scan it tomorrow at work)
    Get mortgage application done -> 08/12/2017
    Carry out survey -> next week?

    Now, I'm totally clueless about the timescale of any further step. When should I expect the lender to come back to me with the valuation date? and realistically, how long will it take to my solicitor to check all the paperwork?
    • Firsttimebuyers
    • By Firsttimebuyers 4th Dec 17, 10:37 AM
    • 158 Posts
    • 160 Thanks
    We viewed our house again yesterday to measure up.

    Solicitors started searches 10 days ago, zero contact from them since then -but we don't want to move until end of January ideally and the Vendor said yesterday she's happy with that too so not pushing them - which is weird as we feel like nothing is happening - so we're taking the time to declutter the house we're renting!
    • JoJo1978
    • By JoJo1978 4th Dec 17, 11:01 AM
    • 345 Posts
    • 425 Thanks
    well done Aliliva!

    I would find out your overall chain length. Either go to your vendors estate agent or your solicitor and ask how many people are in the chain and if it is complete (is the top someone who is not buying someone else immediately/or who will move out.)

    If it's a short chain and it's complete, completing at the end of February doesn't sound like it's too far off. However, Christmas and the short month of February do take a few days off the working day total. If it's a leasehold purchase maybe add a few days on to your estimation.
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
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