Getting frustrated now - it's the end of the sixth week of what should be a relatively straightforward part exchange. Mortgage has been offered, searches done, all forms filled in straight away but my solicitors still haven't asked me for any money. There doesn't seem to be any reason why we haven't exchanged yet and now the solicitors are getting a bit tetchy with each other. All good fun.
The nervous wait to exchange....
- Thread starter noj
- Start date
My move seems to be dragging on, despite us not having a chain as we are going to rent our current house out. There seems to have been so many screw ups by just about everyone else apart from us! We have signed and posted everything we have received right away.
It started by the estate agents wanting proof of deposit and not realising that I'd sent it to them right away. They kept asking for it and I kept sending it for about three weeks! Then the bank didn't issue the mortgage for three weeks despite having the survey, they kept saying they'd sorted it, then it never arrived.
We could have been in the new house by now if everyone had done things to plan.
It started by the estate agents wanting proof of deposit and not realising that I'd sent it to them right away. They kept asking for it and I kept sending it for about three weeks! Then the bank didn't issue the mortgage for three weeks despite having the survey, they kept saying they'd sorted it, then it never arrived.
We could have been in the new house by now if everyone had done things to plan.
Got around a ream of paperwork to go through this weekend and sign!
Aiming for contract exchange on Tuesday.
Soldato
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Yesterday I received a letter from my solictors with a mortage deed form to complete (but not date for some reason, they wrote in pencil not to date it yet)
The letter I got reads
And also a confirmation of mortgage information form to sign.
The first form I'm not sure exactly what this form is for?
And the second form is just for the solictors records I assume?
The letter my wife got was as follows:
I assume we both need to go to the mortgage advisor for her to witness us sign the documetns and then take them to the solcitor. Am I right?
The letter I got reads
And also a confirmation of mortgage information form to sign.
The first form I'm not sure exactly what this form is for?
And the second form is just for the solictors records I assume?
The letter my wife got was as follows:
I assume we both need to go to the mortgage advisor for her to witness us sign the documetns and then take them to the solcitor. Am I right?
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Man of Honour
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we got ours through from nationwide (again - used them for the first place as well and they were great) a month ago, you don't need the mortgage advisor to witness, anyone can do it... then get it over to the solicitor yes.
Soldato
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Last edited:
Soldato
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Soldato
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Your solicitor should have asked their solicitor for an undertaking that service charge would be paid up to date on completion, this may mean that they pay it out of the proceeds of sale on completion. This is especially important in cases where consents are required from landlords/management companies as they will require service charge being paid up to date before they issue consent! Who's told you they haven't paid?
Thanks for the feedback, I'm a total noob, first time buyer with all this
No probs, i'm looking forward to being on that side of the fence one day..
Well, it all went to plan! Finally exchanged, sooo glad its all done and dusted. Thats my third move and it was by far the most stressful of the lot.
Im getting the keys early December and look to have hopefully finished the renovations by the end of May
Im getting the keys early December and look to have hopefully finished the renovations by the end of May
Soldato
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Congratulations
Got around a ream of paperwork to go through this weekend and sign!
Aiming for contract exchange on Tuesday.
Hit a snag. Until Friday I had only been told of service charges to the freeholder. Found out over the weekend that there is another management company who looks after the externals/landscape, etc. Suspect estate is private and not looked after by the council. The extra few £££ don't bother me but more the fact it hasn't come to light until time to exchange. So my solicitor has asked me not to complete until he has 100% confirmation there are no other nasty surprises.
This is what they have said - Yes we have an undertaking from the Solicitors that this will be settled. But of course if they settle anything beyond the 20th they will work out the sum you owe them. When I get their statement I will let you know any balance required.
Still confused, so does that mean I pay what they owe, then after completion we get it back? Bearing in mind we're due to complete on Friday.
Soldato
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They will pay the amount due (which is generally on a monthly/quarterly/half yearly cycle) to clear the current statement. You will reimburse them for the amount they have paid but you will own the property for.
As an example, service charge may be paid on 1 January and 1 July each year. The sellers have a statement that was due on 1 July to pay £500. They will pay the £500 to clear the statement (in line with their undertaking and requirements of management company etc etc). You will then reiumburse them for the period after Friday (20 Nov) till next statement date (which will go directly to you). So in the example above it would be ~£115 you reimburse the sellers (£500/182 days (1 Jul - 31 Dec) = £2.74/day. 42 days from 20 Nov - 31 Dec = £115 --- not quite accurate but close enough!).
Your solicitor may just ask for this after completion and hold off paying stamp duty or something until he has the balance from you.
Hope that makes sense.
As an example, service charge may be paid on 1 January and 1 July each year. The sellers have a statement that was due on 1 July to pay £500. They will pay the £500 to clear the statement (in line with their undertaking and requirements of management company etc etc). You will then reiumburse them for the period after Friday (20 Nov) till next statement date (which will go directly to you). So in the example above it would be ~£115 you reimburse the sellers (£500/182 days (1 Jul - 31 Dec) = £2.74/day. 42 days from 20 Nov - 31 Dec = £115 --- not quite accurate but close enough!).
Your solicitor may just ask for this after completion and hold off paying stamp duty or something until he has the balance from you.
Hope that makes sense.
After 4 weeks of having approx 8 unanswered queries from the sellers solicitors i decided to go ape! Approx. 30 phone calls later to estate agent, subsequently to seller, subsequently to their solicitor all sorted! It seems they've been spinning with their thumbs up their jacksies the last 4 weeks!
My solicitor has told me they have everything bar one small point which shouldnt hold us up any further. I'm due a letter confirming over next day or so at which point i can arrange a date to exchange and complete! My 4th December completion may be on after all!!!
My solicitor has told me they have everything bar one small point which shouldnt hold us up any further. I'm due a letter confirming over next day or so at which point i can arrange a date to exchange and complete! My 4th December completion may be on after all!!!