The nervous wait to exchange....

[dlockers]

Yea scary to see but meaningless as I can’t see anyone sitting with the same lender and letting it run through

You mean as it hits full variable? I may have to swallow it for a short while.

My current fix ends in March 2024; the new part of the mortgage is 2 years from completion. The gap initially was a few months but now I'm quite a bit out of alignment.

I guess I could 'forever' have two seperate mortgages.

 

[~Divine~Wind~]

Mine just hit svr not renewing as we're planning on selling imminently... went from 495 to 595 a month, and that's after a 10k overpayment!

 

[mattyfez]

It's a tough one, our first house we had a full structural survey done (to your first point, didn't really seem worth doing the basic surveys) and in hindsight we probably took it all too literally and arranged to have all the works done, DPC, repair firewall in the loft to neighbouring property, various other things. To justify the cost and cover their backsides the surveyors probably overplay some issues. A part of me kind of wishes we'd literally just done the bare minimum to get a mortgage and moved in oblivious to faults, sorting it all out was a lot of hassle and we ended up moving after less than 2.5 years anyway.

I think you do have to read between the lines a little bit, there is some butt coverng by the surveyors but the idea is you get the full picture and decide whether I'ts bad enough to renegociate, and if not, which bits of work are actually critical. For example mine came back with comments like this:

ACTION: Arrange for a contractor to invasively inspect the roof void, pin back any loose cables and lay more insulation within the void. Cost £495 (excludes VAT and access) subject to contractor’s findings. Purchaser to obtain quotations

To me thats non critical and probably a DIY job for the future..

 

[grudas]

What’s the suggested way to deal with rental/move out date.

We’re planning to hand in our notice now as we’ve got a completion date set for 30th which I know can move a little but hopefully not by much.

We need to obviously inform our landlord of it, what’s the best approach here? Seeing as we exchanged and have completion date. Is it wise to let the landlord know that we’ll be gone in a month. Aka 14th ish of July? We pay rent up front on the 13th of each month so we’ve basically got a month covered.

 

[Itchytrigg]

My intention is to give notice so we’ve a 2 week overlap of completion to the end of the rental.

I thought you could take the completion date as set in stone now give there are penalties for not completing as agreed?

 

[grudas]

My intention is to give notice so we’ve a 2 week overlap of completion to the end of the rental.

I thought you could take the completion date as set in stone now give there are penalties for not completing as agreed?

I mean it should be set in stone but I’ve seen it move even on this thread.. :/

We’re hoping for a 2 week overlap. Basically move in a week then clean this up, tidy it up etc ready for hand back to the landlord.

 

[dlockers]

We did two weeks. Probably could have been less.

 

[jonneymendoza]

Made an offer today. my highest but still within my max budget. went around 10% higher than asking price. It was priced fairly midrange to begin with but its a good start.

Ready to move in with scope for us to do our own thing with it.

Fingers crossed it gets accepted!

I mean it should be set in stone but I’ve seen it move even on this thread.. :/

We’re hoping for a 2 week overlap. Basically move in a week then clean this up, tidy it up etc ready for hand back to the landlord.

i wont be handing in my notice where i live until i literally have the keys in my hands,

i dont mind paying rent and mortgage for 1/2 months extra while i do some rennovation works etc and even slowly move my stuff bit by bit without hiring a moving van etc and stressing out trying to get it all done in a day. here i can get it done in the space of 4-6 weekends instead

 

[grudas]

Made an offer today. my highest but still within my max budget. went around 10% higher than asking price. It was priced fairly midrange to begin with but its a good start.

Ready to move in with scope for us to do our own thing with it.

Fingers crossed it gets accepted!


i wont be handing in my notice where i live until i literally have the keys in my hands,

i dont mind paying rent and mortgage for 1/2 months extra while i do some rennovation works etc and even slowly move my stuff bit by bit without hiring a moving van etc and stressing out trying to get it all done in a day. here i can get it done in the space of 4-6 weekends instead

my notice is 2 months but I'm hoping landlady is happy to accept 1 month. She's very reasonable. I don't want to pay 1250 a month for a house I probably won't be in. That's just silly..

 

[nantucket66]

Homebuyers survey is back on the place we are buying today.

On the whole all is good, usual ongoing maintenance stuff, nothing scary or worrying or anything we hadn't discussed.

2 red areas to investigate - cavity wall ties and drains, 2 areas he couldn't see, so I'm hopeful he is just being overcautious because of that.

More expense but more importantly yet more time to get a CCTV survey done down the 3 covers (there are 3 well established trees and shrubs in the vicinity so roots is the concern) and also to get the rear wall of the house checked.

Part of me thinks it is the surveyor simply covering himself, but part of me is thinking be sensible and the listen to him now (house is detatched, built around 1925 to 1930).

The house isn't about to fall down, so my thinking is we get the 2 surveys done and if they suggest something needs doing we can prioritise them once we are in along with the things we want to do. The surveyor has only highlighted one wall for the ties, not the whole house.

If work needs doing and we try to re-negotiate again I've a feeling it will go down badly, doing it after the mortgage company undervalued it went down like a lead balloon, we'll have to see. We've invested too much time and energy into this so far and although I won't admit it to the vendor or EA I'll get it done myself for an easy life and I just want to be in. Hopefully all will be good, but I'm a glass half empty thinker!

 

[jonneymendoza]

my notice is 2 months but I'm hoping landlady is happy to accept 1 month. She's very reasonable. I don't want to pay 1250 a month for a house I probably won't be in. That's just silly..

depends.

Do you need to do any rennovation work to be done such as rewiring etc? Thats the perfect time to do them whilst you are still living in your old place

 

[grudas]

depends.

Do you need to do any rennovation work to be done such as rewiring etc? Thats the perfect time to do them whilst you are still living in your old place

no, guess it depends on the condition of the property. If you're buying something that needs doing up then fair enough, makes sense. Our case the property we're buying is in a good condition and bar a lick of paint in the soon to be my office it's fine to go in as is.

 

[jonneymendoza]

no, guess it depends on the condition of the property. If you're buying something that needs doing up then fair enough, makes sense. Our case the property we're buying is in a good condition and bar a lick of paint in the soon to be my office it's fine to go in as is.

Sounds good but i would personally still wait until i got the keys before i hand my notice in as nothing is guaranteed until you got the keys

 

[Biz.Kid09]

I have a friend's dad going in next week who is a surveyor for the local council. He said he can't do a 'official' report as such because we aren't paying but if he finds anything then I will certainly put it forward to the vendor. If they want a professional opinion then I feel more comfortable paying for a specific report to be done e.g. roofing or brick work.

If he says its all good then ive saved myself a few hundred quid!

The unofficial survey is complete and given the green light!

Only cost me a nice bottle of red wine

We have now proposed a exchange and completion date to the solicitors so fingers crossed!

 

[Biz.Kid09]

my notice is 2 months but I'm hoping landlady is happy to accept 1 month. She's very reasonable. I don't want to pay 1250 a month for a house I probably won't be in. That's just silly..

I had the same conversation on here a few days ago. I spoke to my landlord and just said I'm in the process of buying and he was very reasonable. Said to just get the completion date and then I can give two weeks notice or so. No chance Im paying a mortgage and rent. Be over 3k for a month!

 

[grudas]

Sounds good but i would personally still wait until i got the keys before i hand my notice in as nothing is guaranteed until you got the keys

exhange of contracts is legally binding really. Completion date is also set and while it can move by a couple of days due to delayed transfer etc it won't be too much of a problem as we have 2 weeks after the date to be out of the property.

 

[jonneymendoza]

So some news my end.

I made an offer on a property i saw over the weekend that is nearly 10% more than the asking price and i got it!

Even with the 10% above offer it was still within our budget.

Now the fun starts now i guess?

 

[grudas]

So some news my end.

I made an offer on a property i saw over the weekend that is nearly 10% more than the asking price and i got it!

Even with the 10% above offer it was still within our budget.

Now the fun starts now i guess?

First step done. Gratz. Now on to the train of crap go with your own solicitors, get mortgage advisor and don’t listen to EA selling you xyz package etc. AIP will be enough to prove your affordability.

 

[Irish_Tom]

So some news my end.

I made an offer on a property i saw over the weekend that is nearly 10% more than the asking price and i got it!

Even with the 10% above offer it was still within our budget.

Now the fun starts now i guess?

Congrats!

 

[jonneymendoza]

First step done. Gratz. Now on to the train of crap go with your own solicitors, get mortgage advisor and don’t listen to EA selling you xyz package etc. AIP will be enough to prove your affordability.

Yup yup. Already had my own solicitor and mortgage advisor. Going to notify them today of the acceptance of my offer.

The EA told me how there was 6 offers for the property and we managed to win it due to putting a high offer and also being first time buyers