"The Scottish System"

[scarlets]

Everyone refers to it as a good model whenever they hear of a chain collapsing ("ahhhh shame. We should do what they do in Scotland"). Is that the case? Is it genuinely less glitchy than the system in England and Wales?

What's the process like in N. Ireland and other places?

I've heard of many difficult and disappointing scenarios over the years relating to fickle buyers/sellers. The worst was that of an old lady who lost her place in a retirement home because her house sale fell through; she had a fatal heart attack later that week which her sons were convinced was stress-related. I can't help thinking that Something Should Be Done but I don't know what.

I thought that in Scotland you normally had a survey done BEFORE putting in your offer and had heard that some people can end up doing 3 or 4 surveys on properties before putting in sealed bids and still losing the property - which sounds expensive to me. sounds like the 'missives' are similar to what solicitors do here but take their time about. This is why Estate Agents want to get properties to exchange asap because only at that point is everyone committed. I don't understand why buyers and sellers piddle around so much getting to exchange and then blame the EA if the chain falls through.

That used to be the case re multiple surveys but now the Seller (except in some limited cases eg new build) must get aHome report carried out before the house is marketed

What happens if you can't get a mortgage in time? (and genuinely thought you could, but there was a surprise!)

The longest part of our (English) house purchase was the 5-6 weeks it took for NatWest to give us our mortgage offer, then exchange was under a week from then.

CrispyFB you used to just need an 'offer in principle' but I'm not sure what happens now. It just doesn't seem to cause the same problems.

the offer should state if the buyer has to apply for a mortgage. If they do we usually make the date of entry 8/10 weeks in order to get the loan instructions though. Some banks are quick. Natwest and bank of Scotland are quick and are turning them around in 4 weeks or so.

Santander are really taking their time at the moment.

We just keep talking to each other to keep everyone fully informed at all times.

Re surveys. We don't generally have them anymore. This is why we have home reports however, some banks do still insist on their own surveyor going out once the buyer has offered.

Thanks! I guess I spent too much time on MSE mortgage forums hearing about people who had agreements in principle and then got turned down due to something unfixable!

Oh that can happen. Just because it is an agreement in principle doesn't mean it is a yes. Far from it.