The nervous wait to exchange....

  • Thread starter Thread starter noj
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Semple said:
Most risks of ground instability is usually caused by infilled land near the property. Your searches should show why it's flagged as minor risk of ground instability.
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That's the thing, it's all very vague. As if they are just covering their behinds just in case. It mentions if there were any trees close by (there isn't).
 
IvanDobskey said:
That's the thing, it's all very vague. As if they are just covering their behinds just in case. It mentions if there were any trees close by (there isn't).
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Hmm that seems strange. Were these searches done by your solicitor? There's no reason for them to hide anything. Infact quite the opposite, as they would be liable if not done due diligence.

I posted an example back maybe a page or so ago to another poster who was asking a similar thing.
 
Semple said:
Haha don't jynx it :p

Our solicitor has already had a nightmare trying to get confirmation from the lender that they'll release the funds.
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I've been trying to exchange for someone all week and it's been a different reason every day from solicitors being off to people in meetings to no deposit to someone asleep because of working nights..

Most are fine though dont worry :p good luck!

Just had my remortgage file opened, whopping £31 in fees to pay. The £500 cashback to cover legal fees will be a nice little bonus.

Can't believe I've been in my house 2 years :eek:
 
Skillmister said:
I've been trying to exchange for someone all week and it's been a different reason every day from solicitors being off to people in meetings to no deposit to someone asleep because of working nights..

Most are fine though dont worry :p good luck!

Just had my remortgage file opened, whopping £31 in fees to pay. The £500 cashback to cover legal fees will be a nice little bonus.

Can't believe I've been in my house 2 years :eek:
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Thanks :)

Yep I can imagine some of the roll eye moments you must have with some clients. Having no deposit is definitely one of those moments, it makes you wonder how these people are allowed out in public let alone buying property.
 
We've just thought "**** it" and we're going to bring forward our exchange and completion instead of waiting for an emergency budget.

I can't see that happening anytime soon - or at least a slashing of stamp duty - given what's going on in government at the moment. It's a shame as a halving of stamp would have saved us £25k and a temporary halting of the second home surcharge (mooted last month, but would have been unlikely anyway) would have saved us an extra £30k.

That would have paid for half our total renovation costs for the entire building.

I've found some friends to rent to - we're going to give them mates rates which will equal the amount we'd have received each month less estate agency fees. Once sorted I'll get a renovation thread going as we've got work across four floors and a big garden project!
 
My mortgage application has gone a bit stupid, and I am banging my head against a wall at the moment.

I recently moved house, and ported my mortgage across as part of the move, because Natwest wanted a £2K ERC to exit the mortgage two weeks before the end date.

I approached Natwest about getting a new deal, but as an existing customer my rates were terrible. Speaking to a broker they gave me some options, I went for a 2 year no fee tracker with Nationwide at base rate + 1.09% (1.84%), this has no ERC so I can switch whenever.

After sorting out a few things (need a new driving licence showing new address, bank statement showing new address, land registry confirming title in my name etc), the solicitor told Nationwide that the house has been recently purchased. The problem seems to be that they didn't clarify it was purchased by me!

Nationwide are now asking me questions based on a "sub sale" form. From what I can tell this is usually done in relation to investment property sales, where the house is being sold within 6 months of being purchased/done up/resold.

My situation is probably a bit unusual, remortgaging so soon after making the purchase, but I can't be the only one who has had to get a new mortgage so soon after buying.

Meanwhile i'm stuck on the SVR with Natwest at 4.24% whilst this is slowly sorted out! :mad:
 
HungryHippos said:
My mortgage application has gone a bit stupid, and I am banging my head against a wall at the moment.
! :mad:
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There are actually a number of lenders that won't allow you to remortgage if you've owned for less than 6 months.

Nationwide don't specify a blanket ban but do say

All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase should be referred to the issuing office
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Skillmister said:
There are actually a number of lenders that won't allow you to remortgage if you've owned for less than 6 months.

Nationwide don't specify a blanket ban but do say
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Aye it's not a problem that they question it but the questions they sent me were framed as if I was buying an investment property that was recently done up.

Doesn't help them make a decision, and they were definitely misunderstanding the scenario I was in.
 
HungryHippos said:
Aye it's not a problem that they question it but the questions they sent me were framed as if I was buying an investment property that was recently done up.

Doesn't help them make a decision, and they were definitely misunderstanding the scenario I was in.
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Out of interest why couldn't you wait 2 weeks and avoid the ERC?
 
Getting really ****** off with ours now.

Was supposed to have exchanged on Friday, but the lender were to slow in faxing over some paperwork. Had no sign of that on Monday, and it turned up this morning, but seems they've sent over an amended contract. Our solicitor has said from our point of view nothing has changed, but does require him to send over some more paperwork, and wait for them to send back the paperwork over fax.

It's all a bit of a joke tbh, god knows how people manage when they're in a chain as if this was all happening i'm sure that would be causing all sorts of delays in a chain.
 
Uggh, buying in Germany is such a frickin' ballache. In order to exchange contracts we have to go to a Notary who will read the entire frickin' contract out before we are allowed to sign it. Worse, because my German is not great and they won't trust my wife to translate it for me, we have to find someone to translate the whole bloody time.
 
Mr Jack said:
Uggh, buying in Germany is such a frickin' ballache. In order to exchange contracts we have to go to a Notary who will read the entire frickin' contract out before we are allowed to sign it. Worse, because my German is not great and they won't trust my wife to translate it for me, we have to find someone to translate the whole bloody time.
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So you moved you a country where you could only speak a little? Ouch! Why not an English speaking country?
 
Mr Jack said:
Uggh, buying in Germany is such a frickin' ballache. In order to exchange contracts we have to go to a Notary who will read the entire frickin' contract out before we are allowed to sign it. Worse, because my German is not great and they won't trust my wife to translate it for me, we have to find someone to translate the whole bloody time.
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That is kind of comical, despite how annoying it is for you :D

Well we finally exchanged this morning. Feels a bit of relief that we're now passed the legal standpoint of house ownership, but was one hell of a bumpy road getting there.

Still set for completion on Friday, so we're hoping things all go smoothly, and can pick up the keys midday Friday.
 
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