The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
koolpc said:
So, life must stop then?
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No I was putting the point that two other did below me, don't panic and carry on unless an out vote essentially means your income is gone. For example if your one of the 2000 people that work for JP Morgan's investment banking division....

Skeeter said:
I'm not worried about the next 5 years, I'm worried about the next 5 days!

We have a deadline of the 9th July to Exchange and the person at the top of our chain is selling their house, paying off their mortgage and then moving to Bulgaria!
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I can see why that could be a problem, push for the exchange is all you can do.
 
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I don't know if they are Bulgarians living in the UK, in which case the drop in the £ will be the problem, or if they are UK Citizens who will be living in Bulgaria, in which case the UK leaving the EU will scupper that. Either way, were concerned, and we cant get hold of the Estate agent (he's probably taken the day off to hide from constant client calls!).
 
Does the following seem reasonable for a solicitor (£970 inc VAT)? (I figure the third party figure is the same to all solicitors?)

In laws have used them before (not for conveyancing) so I know they've got a decent write up at least (in other departments anyways)


Ex Vat Inc Vat
Legal and Admin Fees
Conveyancing Fee £750.00 £900.00
SDLT Form Completion Fee £25.00 £30.00
Lawyer Checker £10.00 £12.00
TT Fee to Sellers Solicitors £25.00 £30.00

Subtotal
£810.00 £972.00



Disbursements / Payments to Third Parties
Bankruptcy Search x 2 £4.00 £4.00
Land Registry Official Search £3.00 £3.00
Chancel Repair Indemnity Policy £10.42 £12.50
Document Storage Fee £25.00 £30.00
Search Pack £215.00 £215.00
Land Registry Fee £135.00 £135.00
Stamp Duty Land Tax £2,900.00 £2,900.00

Subtotal £3,292.42 £3,299.50
£4,102.42 £4,271.50
Total
 
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pepp77 said:
Cheers

Now to start looking for a retirement place for my mum so she can finally move out of my place and I get my home to myself at last.
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Offer made today on a nice two bedroom flat with a balcony over looking the river Medway.
 
The Craig said:
Does the following seem reasonable for a solicitor (£970 inc VAT)? (I figure the third party figure is the same to all solicitors?)

In laws have used them before (not for conveyancing) so I know they've got a decent write up at least (in other departments anyways)


Ex Vat Inc Vat
Legal and Admin Fees
Conveyancing Fee £750.00 £900.00
SDLT Form Completion Fee £25.00 £30.00
Lawyer Checker £10.00 £12.00
TT Fee to Sellers Solicitors £25.00 £30.00

Subtotal
£810.00 £972.00



Disbursements / Payments to Third Parties
Bankruptcy Search x 2 £4.00 £4.00
Land Registry Official Search £3.00 £3.00
Chancel Repair Indemnity Policy £10.42 £12.50
Document Storage Fee £25.00 £30.00
Search Pack £215.00 £215.00
Land Registry Fee £135.00 £135.00
Stamp Duty Land Tax £2,900.00 £2,900.00

Subtotal £3,292.42 £3,299.50
£4,102.42 £4,271.50
Total
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Mine cost £975 incl VAT.

So sounds about right.

So glad I don't have to pay Stamp Duty! :)
 
The Craig said:
Im guessing the only way of getting out stamp duty is the house being under 125k? Not happening for me :o
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That's a moot point now anyway because the stamp duty payable (for the lower bracket) is 1% of the value over £125k rather than it being 1% of the total value as soon as you hit £125k.

E.g a £126k purchase now incurs Stamp Duty of £20 rather than £1,250.

You main costs are normal, these are bull **** but a lot of places add them on.

SDLT Form Completion Fee £25.00 £30.00
Lawyer Checker £10.00 £12.00

Document Storage Fee £25.00 £30.00
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ah cool thanks for checking. For the sake of 70 quid and a good write up for the company from the in laws I guess I'll stick with them!
Cheers guys.
 
Bring on Tuesday, When hopefully the bank might finally approve the mortgage after back and forth a few times regarding missing money when it wasn't etc.

Then the solicitors can get the searches done for them asap, Itching to get it all sorted now and want to get moved in, Specially as the Vendors are ready and waiting on us.
 
Following brexit, as first time buyers currently looking at houses and potentially making an offer on one we like.. really unsure whether to offer a little less than we would normally and hope for the best or wait and see what happens but risk loosing out.

Side note, the house we like (3 bed detached house) will need the rendering re-done or stripped at some point as it has aged and started to crack. Estate agent was quite honest and said it's approximately £7k to put right (reflected in price). Does anyone know if rendering would fail on a mortgage surveyance?
 
NeoVo said:
Following brexit, as first time buyers currently looking at houses and potentially making an offer on one we like.. really unsure whether to offer a little less than we would normally and hope for the best or wait and see what happens but risk loosing out.
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From my view I am not going to worry about what the brexit is doing, But then I really just want to move out to my own place.

It won't hurt to offer less, All they can do is say no and you up it slightly until everyone is happy.
 
Brexit may slow the rate house prices rise through demand reduction and changes the the availability mortgages. It won't cause prices to drop, and certainly not within 3 days of the Referendum.
 
NeoVo said:
Following brexit, as first time buyers currently looking at houses and potentially making an offer on one we like.. really unsure whether to offer a little less than we would normally and hope for the best or wait and see what happens but risk loosing out.

Side note, the house we like (3 bed detached house) will need the rendering re-done or stripped at some point as it has aged and started to crack. Estate agent was quite honest and said it's approximately £7k to put right (reflected in price). Does anyone know if rendering would fail on a mortgage surveyance?
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No, rendering would not fail on a mortgage survey. Obviously it will be picked up by surveyor. Depends how bad it is. They may stipulate something but thats all to do with the condition of the rendering.
 
Building companies share prices such a Taylor Wimpy and Barratts are in free fall. I dobut they will change the price of their houses but anyone looking to buy can always make a cheeky offer and me to the poor state of the economy. You may get lucky.
 
Was supposed to have exchanged today but was a little too late in the day to get it done. Should be exchanging and completing tomorrow all being well!
 
We are about a week from exchanging (yeyy).

All the searches etc have come back absolutely fine, apart from the fact we live in an area that has radon emitting from the ground.

With the whole Brexit thing has anybody been tempted to stop buying and wait to see what the market does? We have a fixed mortgage at 2 years ready to go through - i'm assuming they can't change that before we purchase?
 
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