The nervous wait to exchange....
- Thread starter noj
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The property we had an offer accepted on last year (in October) was taken off the market this week due to the vendor being pregnant and due imminently.
Went back out again today, saw four properties and put in an offer in on one. Will see what comes back on that! Fingers crossed.
Went back out again today, saw four properties and put in an offer in on one. Will see what comes back on that! Fingers crossed.
Busy weekend for us... just under 2 weeks until we complete so we've gone out and bought a sofa, dining table / chairs, bed, mattress, some other furniture (I've lost track..) and other bits and bobs for around the house. Expensive week given all the stuff I bought last weekend too... but we've got all the big bits now.
We met both the site manager and dept. site manager on Friday for our house tour - lovely guys. The site manager has a couple of top regional and national NHBC awards from last year so expected nothing less.
They've gotten to work on the snags and to give them credit they've fixed almost all the ones we found found initially - still a few outstanding ones which they pointed out and it's still to be snagged by four others before we complete so not worried.
Asked about a couple of things we want doing (patio, access door to garage from the garden) and they were most helpful. Just counting down the days now...
We met both the site manager and dept. site manager on Friday for our house tour - lovely guys. The site manager has a couple of top regional and national NHBC awards from last year so expected nothing less.
They've gotten to work on the snags and to give them credit they've fixed almost all the ones we found found initially - still a few outstanding ones which they pointed out and it's still to be snagged by four others before we complete so not worried.
Asked about a couple of things we want doing (patio, access door to garage from the garden) and they were most helpful. Just counting down the days now...
Wondering if anyone can offer any advise on this whilst we wait for the solicitors to get back to us.
I purchased my house in November 2014 this was the council family home. I wasn't actually on the tenancy my mum was so the house had to be bought in both our names as I had been living there long enough to be included just not solely (she couldnt afford to buy it as she was retiring so I put all the money up).
As my mum had to be a buyer she had to go on the deeds as a joint tenant and the mortgage (even though the mortgage is based on solely my finances) and the plan was for her to sign over her half of the house once the 5 year period where we cannot sell without having to pay the council more money.
However my mum just inherited my Nans house after she passed and so is now looking to purchase a place of her own rather than remaining to live with me (this was always the plan but came about quicker than we thought it would).
The questions we are waiting for the solicitor to get back to us about are therefore
Can we take her name off the deed with it being technically a joint mortgage, if we cannot I think we are going to look to change it to a tenancy in common contract with a 90/10 split.
Will this also mean that any house she now purchases for herself will be classed as a second home and subject to the extra 3% stamp duty?
I think we are not going to get good news on either question and may have to either just pay extra stamp duty or wait 3 years for the 5 year period to be over?
Anyone had anything similar happen to them?
I purchased my house in November 2014 this was the council family home. I wasn't actually on the tenancy my mum was so the house had to be bought in both our names as I had been living there long enough to be included just not solely (she couldnt afford to buy it as she was retiring so I put all the money up).
As my mum had to be a buyer she had to go on the deeds as a joint tenant and the mortgage (even though the mortgage is based on solely my finances) and the plan was for her to sign over her half of the house once the 5 year period where we cannot sell without having to pay the council more money.
However my mum just inherited my Nans house after she passed and so is now looking to purchase a place of her own rather than remaining to live with me (this was always the plan but came about quicker than we thought it would).
The questions we are waiting for the solicitor to get back to us about are therefore
Can we take her name off the deed with it being technically a joint mortgage, if we cannot I think we are going to look to change it to a tenancy in common contract with a 90/10 split.
Will this also mean that any house she now purchases for herself will be classed as a second home and subject to the extra 3% stamp duty?
I think we are not going to get good news on either question and may have to either just pay extra stamp duty or wait 3 years for the 5 year period to be over?
Anyone had anything similar happen to them?
Soldato
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a) Would you also transfer the mortgage into your sole name? If so I'd imagine you can transfer ownership into your sole name no problem with the lender's permission. Beware that this in itself can incur stamp duty liability if the value of the outstanding mortgage is above the threshold.
b) If she still has any interest whatsoever in the current property when she buys her new one the extra rates will apply.
Is keeping your nan's house an option for her or is that being sold to fund her purchase?
Don't know the background with it being a council purchase so don't hold me to gospel
b) If she still has any interest whatsoever in the current property when she buys her new one the extra rates will apply.
Is keeping your nan's house an option for her or is that being sold to fund her purchase?
Don't know the background with it being a council purchase so don't hold me to gospel
a) We would be more than happy to transfer the mortgage to my sole name. Mortgage is currently at £105k on a £240k property.
b) So she has to be off it completely then as I thought was going to be the case. So getting A completed is the necessity.
Nan's house is all but sold as we started selling it before my Nan died to pay nursing homes costs, and it isnt a house either of us would actually want to live in (old two bedroom terrace).
b) So she has to be off it completely then as I thought was going to be the case. So getting A completed is the necessity.
Nan's house is all but sold as we started selling it before my Nan died to pay nursing homes costs, and it isnt a house either of us would actually want to live in (old two bedroom terrace).
Don
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It was not meant to be, chin up, and you will find somewhere better 
I know it must be so frustrating, but it will be worth it when you end up in the new place
I know it must be so frustrating, but it will be worth it when you end up in the new place
It was not meant to be, chin up, and you will find somewhere better
I know it must be so frustrating, but it will be worth it when you end up in the new place
I know, You are right. Cheers
Soldato
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It sucks when a sale falls though. We had one fall through about 18 months ago but we ended up getting a much better house. Things happen for a reason and whilst I don't like the way the sale fell through, I'm glad it did.
Viewed 8th April, Offer Accepted 13th April
Mortgage application approved 21st April
Valuation done 3rd May (all good)
Survey due back today
And the seller has still not sent our solicitors any paperwork despite being chased for the past 2 weeks since we found out.
We need to have the keys by the very end of June at the latest. Suggestions?
I'm very hacked off with things now, so much that I think starting again (seeing as we haven't gotten anywhere) is the best choice.
Mortgage application approved 21st April
Valuation done 3rd May (all good)
Survey due back today
And the seller has still not sent our solicitors any paperwork despite being chased for the past 2 weeks since we found out.
We need to have the keys by the very end of June at the latest. Suggestions?
I'm very hacked off with things now, so much that I think starting again (seeing as we haven't gotten anywhere) is the best choice.
My property sale is getting so tedious. Its a sale only, vacant property with no onward chain and they are a first time buyer but using a conveyancer who literally works in a straight line of question, wait for answer, question, wait for answer.
Wasted weeks before asking questions, i turn things around quickly then we wait weeks more for the next thing. Started early February and still not exchanged..
Now waiting for my side for some documents that need signing on the lease so close but its getting beyond a joke now and i'm not confident it will even complete for June.
Wasted weeks before asking questions, i turn things around quickly then we wait weeks more for the next thing. Started early February and still not exchanged..
Now waiting for my side for some documents that need signing on the lease so close but its getting beyond a joke now and i'm not confident it will even complete for June.
So annoying i know. We have gone through all this recently too. Its such a pain when you get everything ready and the other side drag their heels!
Surveys can be worrying too.
My surveyor rang me when he got to the property to have a chat about first impressions! Plus he emailed me the survey before it was posted out to me. He gave me great advice too. I will use him again if need be.
We just hoping to sell our property soon as it all went belly up on monday!!
Surveys can be worrying too.
My surveyor rang me when he got to the property to have a chat about first impressions! Plus he emailed me the survey before it was posted out to me. He gave me great advice too. I will use him again if need be.
We just hoping to sell our property soon as it all went belly up on monday!!
I've just got back from viewing a property. Its £30k cheaper, no chain but requires a fair bit of work. Doesn't have everything we want (in fact, the place we are currently going with has everything and I didn't think that would be possible on our budget) but thats okay.
Going for a 2nd viewing tomorrow evening with the missus. If solicitors have not received any paperwork by Friday afternoon, a withdrawal and new offer will be on the table.
Going for a 2nd viewing tomorrow evening with the missus. If solicitors have not received any paperwork by Friday afternoon, a withdrawal and new offer will be on the table.