The nervous wait to exchange....

koolpc · 25 Jan 2018 at 15:29

Wife signing her side of the contract tomorrow! I am going to view a flat later. Completion is not far away now!

adwol48 · 25 Jan 2018 at 18:24

Woogie said:
We had to do 6 months recently for our current purchase. As my wifes parents have given us some money we had to show proof of that being paid into an ISA, Then 6 months of statements for them to prove where that ISA money came from.

See if we did have any extra income we hadnt declared i woukd understand that but on the forms we've filled in it quite clearly states the deposit being used is coming from the proceeds of selling our current house so theres been no extra large sums at all. Six months just seems a tad excessive even the mortgage lender only want 1 months

Woogie · 25 Jan 2018 at 19:16

adwol48 said:
See if we did have any extra income we hadnt declared i woukd understand that but on the forms we've filled in it quite clearly states the deposit being used is coming from the proceeds of selling our current house so theres been no extra large sums at all. Six months just seems a tad excessive even the mortgage lender only want 1 months

Oh god yeah that is madness really... but through the hoops we must jump

Too Tall · 26 Jan 2018 at 06:38

Had the valuation done earlier this week, mortgage fully approved yesterday. Searches are due back next week so we're hoping to be in within the next 4-6 weeks. The sellers are keen to move ASAP and the solicitors seem on it.

Regy53 · 26 Jan 2018 at 08:48

Well we accepted a offer yesterday on my property

http://www.rightmove.co.uk/property-for-sale/property-63694522.html

Now of to find somewhere for 500k ish, we are looking at Northampton for the space offered

Skillmister · 26 Jan 2018 at 09:19

Regy53 said:
Well we accepted a offer yesterday on my property

http://www.rightmove.co.uk/property-for-sale/property-63694522.html

Now of to find somewhere for 500k ish, we are looking at Northampton for the space offered

Christ you could fit another 4 houses on your garden/drive

koolpc · 27 Jan 2018 at 21:59

Thinking of buying a brand new 2 bed flat £120k south Wales. Went to see show home today. Completion on our home in 3 weeks.

Martynt74 · 27 Jan 2018 at 22:42

Think we’ve found our house. Had a second view today and love it.

Its the online agents so have a call with the vendors tomorrow to try and arrange a price.

rah^ · 28 Jan 2018 at 16:30

So due to exchange contracts on Friday, our buyer has been made aware our new build wont be ready until March and this didnt appear to be a huge issue for them for now

The second reason for delaying completion is so I can port my mortgage and save a fair chunk on ERC - Fingers crossed the builder doesnt decide to change their mind on the March date

Woogie · 29 Jan 2018 at 08:29

So tomorrow is M-Day. It is strange seeing your entire life essentially boxed and all pilled up in a one room. It is both a sad and an exciting day.

Martynt74 · 29 Jan 2018 at 09:09

Haha yeah it's a funny one.

Well I agreed a price with the vendor yesterday. I'm so rubbish at negotiation!

Just sorting out all the documents now for First Direct to move the mortgage forward.

Martynt74 · 29 Jan 2018 at 09:11

Jez said:
Only non standard sales dont necessarily show on public LR data. The only real way that their story could be true is if they bought the house at auction, or from a bank, ie a repossession purchase. I believe these sales are not shown if they are deemed to be outside of usual market value.

Spoke to them on the phone yesterday. Seems when they bought it the previous owners took their existing house as a rental property. Guess that explains why it's not listed.

Jez · 29 Jan 2018 at 09:16

Ah yes if the TX was skewed heavily outside of market value due to a PX type deal then that would explain the lack of listing

Martynt74 · 29 Jan 2018 at 09:18

Least it helps confirm there's nothing dodgy going on!

My pot of money for a summer house build is dwindling by the second. My wife keeps pointing out things that need work which even i'm struggling to argue are less important than my building projects

Gredawarha · 29 Jan 2018 at 12:29

Woogie said:
So tomorrow is M-Day. It is strange seeing your entire life essentially boxed and all pilled up in a one room. It is both a sad and an exciting day.

Been lurking around this thread for a while since we started to think about moving. Sold our house for pretty much asking price within a week of advertising, had an offer accepted on the house we wanted within another 7-10 days. SInce then we have had the dreaded wait to exchange. We have signed all our contracts so hoping that exchange day shall be soon.

Like you I have begun thinking more and more about moving day. Moving is absolutley the right thing for us to do. Despite only living in our current house for about 7 years there are a lot of strong memories here, our entire family life so far, my partner our son and myself is wrapped up in this little house. Our son is 7 years old and I think packing up his bedroom and saying goodbye to his superhero themed bedroom which was a labour of love to create his going to be a tear jerker.

adwol48 · 29 Jan 2018 at 13:04

Gredawarha said:
Been lurking around this thread for a while since we started to think about moving. Sold our house for pretty much asking price within a week of advertising, had an offer accepted on the house we wanted within another 7-10 days. SInce then we have had the dreaded wait to exchange. We have signed all our contracts so hoping that exchange day shall be soon.

Like you I have begun thinking more and more about moving day. Moving is absolutley the right thing for us to do. Despite only living in our current house for about 7 years there are a lot of strong memories here, our entire family life so far, my partner our son and myself is wrapped up in this little house. Our son is 7 years old and I think packing up his bedroom and saying goodbye to his superhero themed bedroom which was a labour of love to create his going to be a tear jerker.

I know exactly what you mean we currently have 3 bed place that isnt big enough for our current needs so to move is exactly what my family needs, but on the flip side we've only been here 5 years but in that time we have started a family had two chiildren and had lots of great times in this house and I've done so many things to the house i feel like it truly is my home but I'm sure I will feel the same way in a few years about the new place

Woogie · 29 Jan 2018 at 13:27

Gredawarha said:
Been lurking around this thread for a while since we started to think about moving. Sold our house for pretty much asking price within a week of advertising, had an offer accepted on the house we wanted within another 7-10 days. SInce then we have had the dreaded wait to exchange. We have signed all our contracts so hoping that exchange day shall be soon.

Like you I have begun thinking more and more about moving day. Moving is absolutley the right thing for us to do. Despite only living in our current house for about 7 years there are a lot of strong memories here, our entire family life so far, my partner our son and myself is wrapped up in this little house. Our son is 7 years old and I think packing up his bedroom and saying goodbye to his superhero themed bedroom which was a labour of love to create his going to be a tear jerker.

It has only been the 2 of us but it was our first house purchase and we have spent close to 5 years here. It did not really hit me until the weekend when I looked out of the window and thought "God I am going to miss this view" then walking into a bare bathroom to have a shower. The whole house just looks "wrong". It is 100% the correct thing for us to do but is becoming more and more of an emotional ride and starting to load the van tonight will only make things worse.

Added to that our solicitor seems to have completely gotten what we owe them wrong.I worked out that it is around £31,000 left to pay, She just came back with a bill of £90,000 as she has forgotten to add 2 payments we have made + gotten our mortgage closing balance completely wrong. UGH

Turambar · 30 Jan 2018 at 02:26

Woogie said:
We had to do 6 months recently for our current purchase. As my wifes parents have given us some money we had to show proof of that being paid into an ISA, Then 6 months of statements for them to prove where that ISA money came from.

Dealing with this myself at the moment. Made extra fun by online statements not being acceptable unless they are stamped by the bank and my savings account (NS&I) seeming to have no statements available at all.

Too Tall · 30 Jan 2018 at 07:24

How long should I expect for the searches to come back? We've received the mortgage offer in the post today with the solicitor saying we should be in within 4-6 weeks from now, from members experiences, do you think this is accurate?

Skillmister · 30 Jan 2018 at 08:14

Too Tall said:
How long should I expect for the searches to come back? We've received the mortgage offer in the post today with the solicitor saying we should be in within 4-6 weeks from now, from members experiences, do you think this is accurate?

Varies entirely dependant on area and what method they use.

We do our searches direct with the local and water authorities, and I think we have the best in the country (local search returned in 2 days, water in 5 max).

Lots of companies use search providers who do personal local searches rather than official, meaning someone goes out and inspects the local authority records personally to gather the information. This costs slightly less (but it's free to inspect the records so it's how search providers make their money) but can take weeks to be returned as local authorities aren't keen in it so appointments can take ages.

Plus some councils have 6-8 week turnarounds even if you go direct!

Searches are rarely the delaying factor anyway, it's usually enquiries and title issues etc...

Tl;dr how long is a piece of string