The nervous wait to exchange....

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Solicitors got back to me today to say we can use/fill out the paperwork they sent for the other house and they'll just update it on their system for the house we switched to. Should be able to fill out all of that tonight.

On the mortgage front, the stuff they need seems fairly simple. I think the only thing we'll be waiting on is the girlfriends P60 for the past year which she hasn't got yet. Just hoping all that goes through fine when we get to it.
 
Stressful time. Our house only been on the market since last saturday. Hoping we get some more viewings. We are not desperate to move though as we live in a lovely house. We just want to move closer to school etc. Luckily we dont have or need a ruddy mortgage!
 
Dynix said:
Solicitors got back to me today to say we can use/fill out the paperwork they sent for the other house and they'll just update it on their system for the house we switched to. Should be able to fill out all of that tonight.

On the mortgage front, the stuff they need seems fairly simple. I think the only thing we'll be waiting on is the girlfriends P60 for the past year which she hasn't got yet. Just hoping all that goes through fine when we get to it.
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Just a word of warning a decision in principle does not guarantee a mortgage. Lenders can be very particular with what information they want or would like to see from your documents. The lenders with better rates may also have stricter requirements to meet. It also depends on how much you are borrowing too i think. I'm taking out a big mortgage so i have had to repeatedly prove i can afford the repayments.

Until that mortgage offer comes through the letterbox then nothing is confirmed! Thankfully for me it came through yesterday :)
 
Naan_H said:
Just a word of warning a decision in principle does not guarantee a mortgage. Lenders can be very particular with what information they want or would like to see from your documents.
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Oh I obviously know that :) I just meant the docs they (initially) require are straight forward, the girlfriends pretty stressed about the whole thing and I'm the one dealing with everything! She's making me a little anxious about it all. I'm preparing all the documentation they need today/tomorrow so come Monday I can hand it all over to our mortgage broker. She doesn't know where her last years P60 is, and hasn't been given this years yet so will have to see if our broker can work around that or we'll need to delay.

I do have a question to you or anyone else going through the process. How far into the process did you instruct your solicitors to start doing the searches / their work? We have to pay them £300 upfront to start the searches, but I'm inclined to wait for our broker to sort the mortgage out first in case there's an issue or delay with that?
 
Dynix said:
I do have a question to you or anyone else going through the process. How far into the process did you instruct your solicitors to start doing the searches / their work? We have to pay them £300 upfront to start the searches, but I'm inclined to wait for our broker to sort the mortgage out first in case there's an issue or delay with that?
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We've just done the mortgage application with our broker, and the next day I started supplying the solicitors with everything they needed, including the £260 upfront fees for searches. That was Wednesday, Thursday, the lender went to value the property. I'm hoping things start to move forward now.
 
I only instructed once I received the mortgage offer. My solicitor doesn't require me to pay immediately, I'm on good terms with him and will only pay once he needs the searches done. Considering I have had 3 previous purchases go bad I'm quite happy with this.

I personally wouldn't want to pay until I know I have a mortgage.
 
I generally request them as soon as contract/title papers come in from the sellers unless clients instruct otherwise. Waiting until a mortgage offer comes in to request searches, whilst understandable from a 'not wanting to waste money perspective', can delay the whole process a fair bit especially with some of the long delays people seem to be having getting mortgages issued recently.

Normal process at the moment seems to be that almost all searches/investigations/enquiries etc are done, mortgage offer comes in, any last few boxes to tick are done and its on to exchange/completion within a week or 2 after the mortgage offer.
 
Thing is, why pay for searches etc if there is a chance that one might not get a suitable mortgage on the property?
 
I've always wondered why bother with searches in an established area. People have bought in that street before and done them and they must have come back okay so why wait that 2 or 3 weeks for something that will be okay anyway?
 
koolpc said:
Thing is, why pay for searches etc if there is a chance that one might not get a suitable mortgage on the property?
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Because in the event that it takes 10 weeks to get a mortgage offer and then something comes up on the searches (and I'm assuming you'd lump private survey into the same boat) or survey that could take 8+ weeks to sort out you also risk losing out on the property you want to buy when the sellers decide they cant be bothered waiting. And then I'd assume you've paid mortgage application fees which you could lose out on or have to renew if it goes passed the offer time limit?

Gamble either way tbh.

Bickaxe said:
I've always wondered why bother with searches in an established area. People have bought in that street before and done them and they must have come back okay so why wait that 2 or 3 weeks for something that will be okay anyway?
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Because there are a number of issues that can affect single properties, not just the wider reaching issues of flooding/contaminated land etc..
 
koolpc said:
Thing is, why pay for searches etc if there is a chance that one might not get a suitable mortgage on the property?
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That's our worry, but at the same time we don't want to unnecessarily delay the process and risk losing the house. I'm going to bite the bullet and get the solicitor stuff sent off today, though they haven't said how we pay their upfront fee. The week-by-week plan I've been given by DW (for a 4-week completion which I feel is optimistic) says we should have the searches, mortgage application and valuation sorted this week so will be a little stressful and a lot of waiting around I imagine.

I have 27 pages of documentation to send over to our broker today so he can get going on the mortgage application.
 
New build:

So we've been told repeatedly that our completion was going to be the 29th April and now as that date looms closer and we've given notice to our landlady and got workman geared up for early may, we're told that it's more likely going to be the end of May.

When I went to the property on Saturday, the guy was in there painting all of the walls and from what I could tell, it all needed a bit of a clean, a shed put up and back and side gates put on.

What else is generally done after painting? Electrics etc... are already in and were done about 3 weeks ago. Surely painting is one of the last things?

Andy
 
Aruffell said:
New build:

So we've been told repeatedly that our completion was going to be the 29th April and now as that date looms closer and we've given notice to our landlady and got workman geared up for early may, we're told that it's more likely going to be the end of May.

When I went to the property on Saturday, the guy was in there painting all of the walls and from what I could tell, it all needed a bit of a clean, a shed put up and back and side gates put on.

What else is generally done after painting? Electrics etc... are already in and were done about 3 weeks ago. Surely painting is one of the last things?

Andy
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Thats very normal. Promise one thing and deliver another!
 
Skillmister said:
Because in the event that it takes 10 weeks to get a mortgage offer and then something comes up on the searches (and I'm assuming you'd lump private survey into the same boat) or survey that could take 8+ weeks to sort out you also risk losing out on the property you want to buy when the sellers decide they cant be bothered waiting. And then I'd assume you've paid mortgage application fees which you could lose out on or have to renew if it goes passed the offer time limit?

Gamble either way tbh.



Because there are a number of issues that can affect single properties, not just the wider reaching issues of flooding/contaminated land etc..
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10 weeks for a mortgage offer? It was never that long for me and i have had several over the years. Usually all done and dusted within 8 weeks for completion move etc!

These days though we dont need a mortgage
 
Dynix said:
The week-by-week plan I've been given by DW (for a 4-week completion which I feel is optimistic)
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Please disregard this before you get your hopes up and end up disappointed. 4 week completions don't happen apart from exceptional circumstances and the fact you've got a mortgage basically rules you out anyway!

koolpc said:
10 weeks for a mortgage offer? It was never that long for me and i have had several over the years. Usually all done and dusted within 8 weeks for completion move etc!

These days though we dont need a mortgage
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File on my desk at the moment got their mortgage offer on 6th April. We were instructed on 1 Feb. Definitely not the longest...
 
Skillmister said:
Please disregard this before you get your hopes up and end up disappointed. 4 week completions don't happen apart from exceptional circumstances and the fact you've got a mortgage basically rules you out anyway!
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Yeah it didn't seem realistic when I got sent the list last week. I sent over all the documents to the broker and he's checked over them, seem fine, but our H2B stuff hasn't been processed yet so he's waiting on that.

edit:

Just as I posted that, had an email from HTB to say that the form we filled out was an old version they no longer accept from 01/04. :rolleyes: Broker sent over a new one but we only needed to sign and date it.
 
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I just payed for my searches today. My solicitor had received the paperwork from the vendors on friday last week.

For me to get my original mortgage offer it did take a while, hence why i was saying a decision in principle doesn't guarantee you anything. We are getting out mortgage through Santander and tbh they have been rapid in doing their work.
 
Searches are now under way, and our mortgage offer came though this morning, which I've already signed and sent back off.

Must be getting close now, I hope.
 
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