The nervous wait to exchange....

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There should be a rectification fee. 10% off their fee for every mistake they make.

Divine Wind, the SVR was 5.9% and was a further £200 a month worst than I'm now on a variable rate deal at just over £1000.

Doesnt look promising for the 24th Feb deadline but I'm hoping a 2-4 week extension may be enough to finally get it over the line. Relying on the chain below but I'm chasing every other day.
 
Malt_Vinegar said:
Had a little hiccup recently, caused from our buyer's buyer. This has created some extra unexpected delays, so it looks like we will not be able to complete before xmas now.
The agent says we might just get exchange in before then, but now unlikely to be actually completed till early Jan..
Not the end of the world, but annoying and plans for Xmas will now have to change!
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We are finally at exchange, I am waiting for official word tomorrow, but all contracts are apparently now signed.
The buyer at the beginning of the chain has really dragged things out, but with this news, I have tapped up the removals company, and got a slot pencilled in for the proposed completion at the end of the month
I suspect that date might bounce about a bit, but once we are exchanged, i don't care too much about delays, just really keen to know what we are doing!
 
A friend and his wife are in the middle of selling their house and just got this from the agents:

"Your buyer has recently had to change solicitors due to the original ones not being on the board for his lender."

Anyone come across this before?
 
koolpc said:
A friend and his wife are in the middle of selling their house and just got this from the agents:

"Your buyer has recently had to change solicitors due to the original ones not being on the board for his lender."

Anyone come across this before?
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I had this discussion with my solicitor when I already had my mortgage sorted. He was ok with my lender, so it was not an issue.
 
After five months we've finally (third time lucky!) exchanged this morning. Completion Friday. I know I could have got more money for my flat (never tell your estate agent what you'd be "ok" with!) despite it's state and current market conditions, but... I needed this chapter of my life to be over. Never liked living there, always saw it as a dormitory and not a home, and it's been empty for far too long as life wrung decisiveness out of me. Now... on Friday I get my money and am temporarily "rich". Ok, less poor. Then I find out what Mum's bungalow's really worth and whether I have to leave or sell my soul to stay here! Downsizers with more money than sense may spoil my plans.

One problem at a time, eh? :-) Long distance virtual stress-hugs to all those going through the house sale/purchase slog.
 
Got a call from my Solicitor at 16:23 saying that they got a message about exchange finally, and was trying his best to get it done before 5pm, but he was not sure it would be possible..
I had made my sellers (top of the chain) aware of the incoming, so he called me back at 16:37 saying that we had exchanged!
Completion is the 17th, as my sellers are moving to Ireland to a rental, so are also moving all their stuff into temporary storage over there. The mover is saying they need more notice for an international move.

So happy, and relieved that it finally happened.

Lots of stuff to do next, but finally having a date means we can confirm the movers, schools, sports clubs, utilities/internet/etc!

Just the matter of actually moving 3.5 hours away to deal with now!
 
Started the buying process early December and was given a completion date of the 3rd February last week
Still have not paid the deposit but everything is done/signed and solicitors say it should be fine to complete on Friday but thats up for debate at this point, seems far too soon.

Still trying to figure out how to do the council tax, as I need to also apply for the single person discount.
 
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You can register for the council tax after you have the keys in your hands and have completed.

I just called the council tax dept and gave them my details and DD was setup, they can do the single occupant discount then as well.
 
HungryHippos said:
You can register for the council tax after you have the keys in your hands and have completed.

I just called the council tax dept and gave them my details and DD was setup, they can do the single occupant discount then as well.
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Oh from reading around there's nothing really clear it says you have to fill in a PDF form and email it to the council.
Which number did you call? can't find anything specifc to do with my council in terms of a tax dept phone number, just the "General enquiries" number.
 
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MatsyLR said:
Oh from reading around there's nothing really clear it says you have to fill in a PDF form and email it to the council.
Which number did you call? can't find anything specifc to do with my council in terms of a tax dept phone number, just the "General enquiries" number.
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It will vary by council/area, I just looked it up on the internet and found the number you can call to make payments or setup a DD, they will need to have one for setting this up for people.

They can backdate it as well so don't think it matters hugely if you have it in place day 1, so long as you can provide the date you got the keys, and have made reasonable efforts to configure it (i.e. not waited a month to call them).
 
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Completing and getting the keys on Thursday next week.
Paying £75000 on Monday morning by bank transfer. I think I'm going to pass out at work.

I hate spending money :(
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MatsyLR said:
Completing and getting the keys on Thursday next week.
Paying £75000 on Monday morning by bank transfer. I think I'm going to pass out at work.

I hate spending money :(
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Are you doing a CHAPS payment? From some banks it can be a hour or two, some others, most of the day.
 
Friend of mine is selling his house.

He has only had it 3 months. He decided to sell as he is moving back with his wife.

Buyers lenders are refusing to give a mortgage to them until my friend has owned the house for min 6 months.

He, and the buyers are very frustrated.

He was meant to complete next week! How could the buyers solicitor only now pick this up is beyond me!

Anyone come across this before? I have seen it mentioned online before because of money laundering
 
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Liquid_Entity said:
There should be a rectification fee. 10% off their fee for every mistake they make.

Divine Wind, the SVR was 5.9% and was a further £200 a month worst than I'm now on a variable rate deal at just over £1000.

Doesnt look promising for the 24th Feb deadline but I'm hoping a 2-4 week extension may be enough to finally get it over the line. Relying on the chain below but I'm chasing every other day.
Click to expand...

Got an email yesterday advising it is likely we exchange in the next week and completion date of 22nd February.

I'm still only going to get excited when I have the keys. Got burned last time.
 
koolpc said:
Friend of mine is selling his house.

He has only had it 3 months. He decided to sell as he is moving back with his wife.

Buyers lenders are refusing to give a mortgage to them until my friend has owned the house for min 6 months.

He, and the buyers are very frustrated.

He was meant to complete next week! How could the buyers solicitor only now pick this up is beyond me!

Anyone come across this before? I have seen it mentioned online before because of money laundering
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Usual undue blame for solicitors :rolleyes:

It's the lender's decision, not the solicitors. They probably reported it to the lender (as is their obligation) and sometimes they'll proceed, sometimes they won't. Depends on the lender and the circumstances.
Nationwide for example say:

All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase should be referred to the issuing office, ensuring that the following details are provided:

The name and address of the person who sold, or will be selling, the property to the applicant`s vendor;
The amount paid for the property by the applicant`s vendor;
Details of any connection between the original and the applicant`s vendor, or between either vendor and the mortgage applicant;
Details of any work carried out to the property between the two transactions;
When the two transactions took place or will take place.
 
Skillmister said:
Usual undue blame for solicitors :rolleyes:

It's the lender's decision, not the solicitors. They probably reported it to the lender (as is their obligation) and sometimes they'll proceed, sometimes they won't. Depends on the lender and the circumstances.
Nationwide for example say:

All circumstances where the owner/registered proprietor has owned the property for less than 6 months from purchase should be referred to the issuing office, ensuring that the following details are provided:

The name and address of the person who sold, or will be selling, the property to the applicant`s vendor;
The amount paid for the property by the applicant`s vendor;
Details of any connection between the original and the applicant`s vendor, or between either vendor and the mortgage applicant;
Details of any work carried out to the property between the two transactions;
When the two transactions took place or will take place.
Click to expand...

My friend said that the buyers solicitor only last week reported it. They have had 3 months to do so but only did so a week before completion!

I say that is def an error by the buyers solicitor.
 
Words cannot describe how utterly soul destroying this process is. After being told last week we were ready to exchange this week a letter arrives at my solicitors with all sorts of enquiries. Most of them sorted but one of them is something I just don't even know what how or why it's a thing. It never came up when I purchased this house.

Land Compensation Act

The Land Compensation Act defines the physical factors which can give rise to compensation claims as noise, vibration, smell, fumes, smoke, artificial lighting and the discharge of any solid or liquid matter onto a local resident's property.

WTAF does this even require a response on?


So I did some digging and this search result came up and I found it on concil website but no details of what it is or anything.

 
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Solicitors covering their butts as everything must be accounted for. But, in my experience, a massive amount of solicitors are complete muppets.

They destroy the buying / selling experience totally.
 
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