The nervous wait to exchange....

  • Thread starter Thread starter noj
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A week since my last post and the other side still haven't had a written mortgage offer. They claim to have had it verbally! So three weeks and counting on that! Everything done on our side.

We are out of our rented house in 11 days, the sale of our flat still hasn't gone through due to a solicitor/land registry kock up. The Mrs is pregnant and I'm posting from the hospital as there's a pregnancy complication. I'm just wondering what else the day will bring!!!
 
Woohoo, contracts arrived today.


Detached 1930`s 3 bed loveliness here i come, all just for me:) and maybe a cat later on. Will make people wince in London what 142k can buy out of the nasty place that is London.
 
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Sent off our finalised mortgage application today. With me being a sole company director I've been advised that the underwriters will probably inspect our application more thoroughly, but getting excited. As we're staying where we are, but buying 50% of the property off my mate and remortgaging, everything should hopefully go smoothly if the mortgage is accepted.

We're also applying to borrow an extra £40,000 for a large renovation project too. Hopefully hear back tomorrow or Monday.
 
Put in an offer on our first house, the offer has been accepted, we have an AIP in place and have asked for proceed with a formal mortgage offer. We're hoping things are going to move fast as there is no chain.

Vendors estate agent has asked me to call and speak with them on Saturday, i assume they're going to try and sell me conveyancing or such like?
 
toshj said:
Sent off our finalised mortgage application today. With me being a sole company director I've been advised that the underwriters will probably inspect our application more thoroughly, but getting excited. As we're staying where we are, but buying 50% of the property off my mate and remortgaging, everything should hopefully go smoothly if the mortgage is accepted.

We're also applying to borrow an extra £40,000 for a large renovation project too. Hopefully hear back tomorrow or Monday.
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Aaaaaand rejected! Hopefully should get sorted soon. The finances were approved, the financial year dates were approved, but the lender seems to think I don't own 100% of my company so have denied the application for the time being. Need to get this sorted out as soon as possible!
 
Well we have exchanged contracts, house insurance to arrange tonight when i get home, and we get the keys on friday. I can finally get excited now.
 
Still waiting on the solicitors to give the green light.

New-built house reserved 3 months ago nearly, still waiting to exchange.

Mortgage approved, HTB approved, I signed all the relevant paperwork, received search results, not sure what the holdup is.

My solicitors say the developer's solicitors are not responding properly to their questions :confused:

Getting nervous now, as we need to exchange in September otherwise HTB is not valid....
 
Poppy said:
Put in an offer on our first house, the offer has been accepted, we have an AIP in place and have asked for proceed with a formal mortgage offer. We're hoping things are going to move fast as there is no chain.

Vendors estate agent has asked me to call and speak with them on Saturday, i assume they're going to try and sell me conveyancing or such like?
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There is a LOT to be said for using a solicitor recommended by the agent. They want the sale to go through and more often than not, reccommend those that have a history of keeping sales together etc.

Its not a case of 'selling' you conveyancing if its to your benefit. Dont whatever you do go with a cheap online solicitor. Thats almost as bad as selling your house with a cheap online agent.
 
fastwunz said:
There is a LOT to be said for using a solicitor recommended by the agent. They want the sale to go through and more often than not, reccommend those that have a history of keeping sales together etc.

Its not a case of 'selling' you conveyancing if its to your benefit. Dont whatever you do go with a cheap online solicitor. Thats almost as bad as selling your house with a cheap online agent.
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The agent also gets a "drink" out of the lawyer. The last time we bought we got a random call off the agent saying that they recommend the same solicitor that we were using anyhow. Then when the completion statement came through it had the bung on it. I rang the lawyer even though he paid it not us i thought I best explain that we had instructed him before the "recommendation" from the agents.
 
Should be exchanging on a place this coming Wednesday which is the day I have asked for. We could have done it last week but for my solicitor being on holiday and he wants to present everything to me himself.

It's not been an easy path. I offered Jul 2014 only to pull out in Dec as the issues were doing my head in. The property was also being held up by the sale of the neighbouring property which finally completed in Feb this year after some 20months. Another buyer jumped on the property I was buying after me but after losing the buyer of their own property again it came back on the market. As I still hadn't found a place and had been told all the issues were sorted I jumped back in again in June. Aside from liking the property another attraction was that my solicitor had not closed my records out so he was able to just carry on from last time.

Although the estate agent has been the only one to tell me we can exchange so far, I have to give my solicitor a call on Monday and if everything is good to go I want to exchange on Wed and have already arranged insurance cover from that date. Completion hopefully the following Wed.

Am quite excited but it's also going to a bit weird as it's a four bed detached just for me to live in. People have asked "why four beds?", I could only respond with "why not?". As it's a new the four rooms are not exactly massive. In fact could easily knock the master through to another bedroom and then it would be a three bed with a nice big master bedroom.
It's surprising how easy it is to fill space. Already have a plan for a second PC :)
 
Just put an offer on a place though not sure I will get it as I am up against a cash buyer.

If I am fotunate, the estate agent will be keen for me to go through with COuntrywide Morgage Services, who are sorting out an AIP for me.

Would I be right in assuming they offer the whole packagage - brokering mortgages, legal services, etc? I keep thinking using a broker is a waste of £350 they would charge, especially if I can go directly to the lender myself. Is that right?

Haven't thought about the other legal services just yet. WIll probably get a few online quotes and comparing against Countrywide. Any feedback on them?
 
I'd find a local solicitor personally, and a good one too. Some will make the purchase seem easy until you come to sell it and realise the previous solicitor you used had overlooked some things you may now need to sort out.
I'd also use an independent mortgage advisor, not linked to the agent you are buying through but that's me. I think using a mortgage advisor is quite important and many don't charge you for their services and are very open with the kickback they get from the lender (so they get a commission from the lender for introducing you to them). Many people I speak to wish they had went for a different mortgage so using an advisor can help make sure they find the right one for you.
 
Getting nervous now. Not looking forward to the hassle of phoning, gas, electric, water and council tax up on the first day. Just want to start moving stuff in.
 
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