The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
Just seen this thread.

Exchanged 3 weeks ago, had to wait 2 weeks for ForcesHTB scheme, completed last week.
I'll chuck some pics up in a bit.

Does anyone know why it takes so long to buy a house? Seems like there's a lot of things that take time for no apparent reason.
 
Sherpa said:
Just seen this thread.

Exchanged 3 weeks ago, had to wait 2 weeks for ForcesHTB scheme, completed last week.
I'll chuck some pics up in a bit.

Does anyone know why it takes so long to buy a house? Seems like there's a lot of things that take time for no apparent reason.
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Because we have an archaic system. Gazumping, etc. is all prevalent in our system and everyone is, at the moment, after buying a house. I'd much prefer to go to Scotlands model. In Scotland, after an offer has been accepted, you normally can move in 3-4 weeks.


M.
 
Siliconslave said:
Right, trying very hard to be calm, but the damn sellers have decided not to sell - so infuriating - back to rightmove again then :(
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That sucks....but rather now than in 4 weeks time when you've spent money on things.

They'll be a better place out there for you :)
 
Have two different viewers coming this evening to take a look at our house and just spotted our next potential house today, but I don't want to get my hopes up until we have some offers on the table.
 
Zefan said:
Why the wait on FHTB? I'm wondering if I might have similar issues as I'm using it too - mine is fully approved on JPA now.
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Its just the time they take to clear funds at end. I'm using it too. Also I didn't check the box for a PIN as I didn't know it's significance at the time now I'm waiting 10 days for them to send me on of these. I didn't know it was needed for every mortgage company. Rather frustrating. Make sure you request one.

Have you got your PIN?
 
FinglisHobbit said:
Its just the time they take to clear funds at end. I'm using it too. Also I didn't check the box for a PIN as I didn't know it's significance at the time now I'm waiting 10 days for them to send me on of these. I didn't know it was needed for every mortgage company. Rather frustrating. Make sure you request one.

Have you got your PIN?
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Yep I got a PIN through although it did take exactly 10 days from when I requested it. I too didn't tick the box - why they can't just send you one anyway is beyond me... I'm sure they're doing a lot of paperwork and one bit of confirmation can't be too much hassle! It turns out some lenders really don't require it - I think it was when reading Halifax's or Natwest's lending criteria that I found a statement along the lines of "it's never fully approved until completion so no PIN is required". Not sure what they mean by that really but it sounds like they don't require it.
 
Sherpa said:
Does anyone know why it takes so long to buy a house? Seems like there's a lot of things that take time for no apparent reason.
Click to expand...

m4cc45 said:
Because we have an archaic system. Gazumping, etc. is all prevalent in our system and everyone is, at the moment, after buying a house. I'd much prefer to go to Scotlands model. In Scotland, after an offer has been accepted, you normally can move in 3-4 weeks.


M.
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Can't see how gazumping etc would be what causes the lengthy house buying process - I don't know about your area but I've had maybe 1 or 2 fall through because of that in the last 2 years!

It's just a whole multitude of problems that just cause small delay after small delay. Like the client who spends 2 weeks being adamant they've returned their paperwork to you only to find it was actually in their "other" bag the entire time. Or even the ones who take weeks to bring in ID/payment on account so we can even get started! Or councils who have a current turn around time for searches of 4-5 weeks. Then of course you get bad solicitors who are just down right slow. Or ones who are swamped with work because houses seem to selling like hotcakes at the moment. Then you've got banks... I've got a sale/purchase that's been ready for nearly 6 weeks (after an 8+ week process) but sat around waiting because someone 4 transactions down the chain decided not to report a bunch of problems to their lender until the last minute and it's had to go to senior valuers to make a decision!

But ask anyone who's buying and it's just their solicitor that's the problem :D;)
 
Zefan said:
Yep I got a PIN through although it did take exactly 10 days from when I requested it. I too didn't tick the box - why they can't just send you one anyway is beyond me... I'm sure they're doing a lot of paperwork and one bit of confirmation can't be too much hassle! It turns out some lenders really don't require it - I think it was when reading Halifax's or Natwest's lending criteria that I found a statement along the lines of "it's never fully approved until completion so no PIN is required". Not sure what they mean by that really but it sounds like they don't require it.
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Friday will be day 10 for me, Im still waiting for it. Hopefully the bank holiday didnt add an extra day on.

They should just give you one by default. Its quite stupid that its even an option to be honest. The very least they should do is explain how important and widely requested it is.
 
FinglisHobbit said:
Friday will be day 10 for me, Im still waiting for it. Hopefully the bank holiday didnt add an extra day on.

They should just give you one by default. Its quite stupid that its even an option to be honest. The very least they should do is explain how important and widely requested it is.
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Mine was actually 11 days in fact, it fell over a bank holiday and it delayed it by a single day so they say. Apparently it would have been 10 if not for that.

I did hassle them a LOT about it mind, and my paper application form was sent back very swiftly which may or may not have helped matters. I would call them and ask them if they know it's been sent yet, they should be able to tell you but they couldn't for me - they just made me wait the full 10 days. I called up on what should have been the 10th day and they explained about the bank holiday causing an extra day's delay... and it arrived the very next day. Colour me sceptical but I can't help but think that my hassling on the 10th day may have helped them send it for the next day.

Is yours showing as fully approved on JPA yet?
 
Yeah I got a Jpa notification a few weeks ago saying it had been approved and my legal representative would get a letter from them.

The lady on the phone when I called about my PIN insisted it would take 10 days and that they have a lot of applications to process and can't prioritise them. Was it 10 days or 10 working days? I ask because it's been about 13 days since I called.

It's rather annoying because I really wanna get our mortgage sorted asap. I never quite trust raf admin like.
 
FinglisHobbit said:
Yeah I got a Jpa notification a few weeks ago saying it had been approved and my legal representative would get a letter from them.

The lady on the phone when I called about my PIN insisted it would take 10 days and that they have a lot of applications to process and can't prioritise them. Was it 10 days or 10 working days? I ask because it's been about 13 days since I called.

It's rather annoying because I really wanna get our mortgage sorted asap. I never quite trust raf admin like.
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Sounds like the exact same treatment I experienced.

It was 10 working days exactly, that isn't counting the bank holiday it fell over as a working day so I'd expect it to add a day on as you're fearing :(
 
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