First Time Buyers - How Long????

[Arransmummy]

We have sold our property in the middle of June to first time buyers. We are now ready to exchange on the property that we are buying but the people that are buying ours still do not have their mortgage in place.

Does anyone know how long it takes these days for a first time buyer to get their mortgage in place?

Thanks

[portonovo]

Should take weeks at most. Many buyers have a 'mortgage in principle' agreed before they even start looking. I would be concerned...

[LIZS]

A couple of weeks at most .The fact that they haven't yet is not a good sign imho. Have they even had a survey done ?

[Arransmummy]

Yes the survey and everything has been done. I have been onto my solicitor every day and she says not to worry but i cant help worrying. Would you ring the first timebuyers themselves and see what is happening?

[Fimbo]

If you have the buyers number contact them. We kept in continually contact with our buyers and if we hadn't the chain would have collapsed.

[LIZS]

The formal mortgage offer should swiftly follow the survey unless there is an issue.

[Fimbo]

My building society mucked up my mortgage and the offer was delayed for a couple of weeks whilst they sorted things out. W

[Arransmummy]

I think I might be onto the problem. We had a company come out to look at the damp we have - referred through buyers mortgage company. They were meant to send the report back to the mortgage company. I have just phoned the firm who had come and they don't seem to remember the property, she going to have a look and phone me back. I can see me complaining big time if they have f*ed up.

[Lolly68]

I had an offer in principle within the day. Then once the survey done the mortgage offer came out - took 2-3 weeks at the most.

[1dilemma]

Days/hours...