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The nervous wait to exchange....

Discussion in 'Home and Garden' started by noj, Apr 3, 2014.

  1. silversurfer

    Capodecina

    Joined: Jul 13, 2004

    Posts: 18,886

    Location: Stanley Hotel, Colorado

    I'd prefer the house, most people would be biased towards not risking bad neighbours over their head. Add in garden and no maintenance fee, I agree on the resale thing also because families always want a garden of some kind if possible. But also its your money and upto you how you want to spend it best. Theres the old location idiom but even that would favour house I reckon. ask a friendly estate agent perhaps :D
     
  2. toshj

    Mobster

    Joined: Aug 11, 2009

    Posts: 3,301

    Location: KT8

    Our solicitors haven't received the monies from our remortgage which means we've not completed today as agreed.

    The estate agents have told me that legally I'm now going to be served notice for failure to complete, and could be forced to pay interest...

    Got the removal company arriving tomorrow and should be at the property by 1pm. What the **** am I going to do if we arrive with all our worldly possessions but can't get the keys??
     
  3. Rroff

    Man of Honour

    Joined: Oct 13, 2006

    Posts: 66,824

    Not something I know much about but you might be looking at an emergency bridging loan which has nasty interest rates so as to ensure you get keys :s I'd put money on it being your solicitors ******* up and shifting the blame though.
     
  4. toshj

    Mobster

    Joined: Aug 11, 2009

    Posts: 3,301

    Location: KT8

    I can temporarily cover the shortfall from a director's loan, but I'm starting to lose my mind with our solicitors.

    Firstly they tried to cancel a mortgage that was being ported, which would have resulted in a £17k redemption penalty. Only decided to ask me if I wanted that at the last minute.

    Then admitted with 90 mins to go that they'd made a mistake with the completion calculations and that I owed an extra £10.5k.

    And now we're being served notice for failure to complete on time.
     
  5. tres

    Soldato

    Joined: Oct 16, 2007

    Posts: 6,832

    Location: UK

    Mortgage offer through today!

    But bad, strange news from our broker...

    HTB Not able to process the equity loan due to Taylor Wimpey not agreeing funding for the next financial year??

    No idea what that means
     
  6. ultralaser

    Hitman

    Joined: Sep 7, 2014

    Posts: 985

    Right at the start, offer accepted, solictor instructed, full mortgage application tomorrow. :eek:
     
  7. ShadowMan

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 1,567

    Good and bad for us. Our full mortgage offer through and all with solicitors now. Which is good.

    Our buyer has had mortgage declined. They did all their checks on Experian but apparently Call Credit showing a default from an account that should have been dealt with by an IVA. This doesn’t appear on any other report. Appears wrong default date was applied so hasn’t come off yet. Was supposed to clear in Feb but will stay on til August next year. They are trying to get it corrected as ICO guidelines say it should be date of IVA or sooner. If it gets fixed it should all be ok otherwise it’s a big step back.

    Not sure whether to be gutted or not. Buyer is a family member so I know the detail and am trying to help them get it sorted. Hoping creditor has an easy process to fix it quickly and update the file. I suspect not though...

    Anyone ever had to have an error on a file fixed?
     
  8. PurplePhoenix

    Gangster

    Joined: Sep 20, 2014

    Posts: 341

    Location: Southampton

    Go for the house . Too many first time buyer deals on new builds etc that make it harder to sell a flat. You also find the maintenance fee will go up for no reason.
     
  9. xb8browney

    Soldato

    Joined: May 19, 2005

    Posts: 5,531

    Location: North East

    I'd be looking at a subprime lender on a short fixed term and then after say the 2 years fixed term is up and the credit file fixed, move mortgage.
     
  10. IvanDobskey

    Sgarrista

    Joined: Feb 2, 2010

    Posts: 7,905

    Location: East Midlands

    I'd always choose a house over a flat. Even a grotty house over a nice flat to be honest.
     
  11. PurplePhoenix

    Gangster

    Joined: Sep 20, 2014

    Posts: 341

    Location: Southampton

    That what I did , I miss my dishwasher and carpets :(
     
  12. Steeps

    Soldato

    Joined: Nov 8, 2003

    Posts: 5,002

    Location: Bedfordshire

    Paperwork going back to the sellers' solicitors unsigned as there are errors in the lease (which my solicitor also missed) so now I have to wait for another draft to be written up by their side, checked by mine and then signed by me. Already 2 weeks over the original exchange date. Lets see if the seller tries to point the blame at me again for their mistakes. This could cause issues for the others in the same block as it's supposed to be a cookie cutter contract that all residents agree to.
     
  13. ShadowMan

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 1,567

    Unfortunately not an option. Our property we are selling is Shared Ownership and the Housing Association requires a high street lender and not sub-prime. Other than this default which shouldn't be there their credit files are fine. Experian scores over 950 each (I know it can mean nothing). It just seems that this one error is causing such a massive hurdle and it is only on CallCredit. The default should have dropped off in Feb of this year but due to them putting wrong date by 18 months it is still hanging around. We do hope its not a massive issue to fix as guidance from ICO says it should be changed but getting it done and then getting it updated on file/report is another thing!

    I have drafted the letter to the Data Controller of the lender to request/instruct they change it. He is hoping they may do it over phone today though but I am expecting having to send it in writing.

    Nothing ever easy with houses...
     
  14. tres

    Soldato

    Joined: Oct 16, 2007

    Posts: 6,832

    Location: UK

    ETA for completion moved from April 2020 to Christmas! Woohoo
     
  15. IvanDobskey

    Sgarrista

    Joined: Feb 2, 2010

    Posts: 7,905

    Location: East Midlands

    Buyer of my house still holding everything up :( Going to be Christmas before it gets done at this rate...

    He's buying to let, so has no real urgency to get it sorted. Meanwhile he's holding us up and the people who's house we are buying.
     
  16. Vanquish-Storm

    Mobster

    Joined: Apr 22, 2009

    Posts: 3,059

    Location: North-West

    We have found a new place after the sellers of the house we were going to buy originally pulled out late in the process. We are going to stick our stuff in storage and continue the sale of our house and move somewhere temporarily. Hopefully not too long.
     
  17. Kill_Phil

    Wise Guy

    Joined: Feb 11, 2010

    Posts: 1,443

    Location: England

    Finally moved in yesterday. Only took 15 weeks all in all... :rolleyes: Never again ha

    Over the moon with the house though!
     
  18. Mr Jack

    Capodecina

    Joined: May 19, 2004

    Posts: 17,964

    Location: Kiel, Germany

    Just got our first removal quote here in Germany: €4200. I mean, I expected it to cost more than the UK but bloody hell!
     
  19. RobDogDog

    Wise Guy

    Joined: Aug 8, 2011

    Posts: 1,363

    From our first view near the start of September, we will hopefully have the keys by the end of this week/early next week!
     
  20. MattTheTall77

    Hitman

    Joined: Dec 23, 2008

    Posts: 839

    It turns out the extension on the house we are buying was built without planning permission, it was approved 1989 but then terminated by the building control office in 1992 as it hadn't started. There is also no evidence of building control.

    We hadn't had a survey as yet as it does need a lot of work doing so didn't see the point, we were going to rewire and change the kitchens/bathrooms, boiler etc. And the last survey I had done didn't tell me anything structural, and missed a number of issues anyway.

    The solicitor has advised a survey now to check the quality and structural integrity of the extension. I'm considering just going direct to a general structure inspection and report by a structural engineer rather than a building survey by a surveyor, I know there are Chartered Building Surveyors but you can't search for that speciality on the RICS site. I'm not sure how much they can actually check without intrusive checks.

    What are people's thoughts?