Buyer's support thread #5

[scribblegirl]

Sorry for breaking the last one

and for all....

[Heyheyheygoodbye]

Woo hoo Reading! A big step closer!

Our offer was accepted now got weeks of anxiety and back and forth ahead of us, but so happy to have got to this stage! It's a no-chain exchange with both parties keen to move quickly (famous last words?) so DH and I are surrounded by an ocean of paperwork getting ready for our broker appointment on Saturday. Whee!

[StepAwayFromTheThesaurus]

Looks like it's all good news on this thread.

Are you in the house now, slowly?

The survey was done today on the house we're buying so hopefully that went ok and the valuation will come back fine. Our buyers' solicitors have been asking stupid questions (and DH is getting weird abc panicky because I've said a straight out no to stupid stuff).

[Palomb]

Fabulous news heyhey! Here's to the next round of massive stress 😂🍷🍾

[Slowlybutsurely]

We competed! In rented at the moment so not actually moving in until Friday! Got keys and went for a nosey, put some curtains up etc. A lot of decorative work to do but nothing too major! Needs new flooring in the lounge which we had hoped to get a way with. But all lovely and cleans and they left champagne and presents for my children! So lovely!!

[Skittlesss]

Yayyyyyy congratulations slowly :) wonderful news.

[Slowlybutsurely]

Fingers crossed for everyone else now!

[StepAwayFromTheThesaurus]

Enjoy the champagne.

[Palomb]

Congratulations slowly

[Heyheyheygoodbye]

Yay Slowly! You give the rest of us hope

Fingers crossed for your survey Step!

[readingrainbow]

That's fab, slowly! Hoping to tell a similar story this time next month!

Heyhey, we used a broker and he was a life saver. He negotiated hard for us when our lender was asking ridiculous questions and nitpicking our mortgage application. He's a bit of a bulldog when he gets going!

step, how long do you think you'll have to wait for the results? I was fretting for weeks over the bank's valuation and it turned out they'd done it a month and a half previously but nobody told me. hah. Our own survey man sent us the report the same day, which was amazing.

[StepAwayFromTheThesaurus]

I've no idea how long I'll have to wait, reading. It's the same bank as last time we bought, and it was pretty quick, last time. It's just the basic valuation survey and the bank are willing to accept anything up to an £18k down valuation and still lend to us. The sold prices nearby suggest a down valuation is unlikely, but you never know.

I'm more concerned about sorting out the queries from our buyers. Their solicitor has asked about convent consent for an extension that doesn't exist from 2012 (or an indemnity) based on their searches. So who knows what nonsense has come up. The previous owners got planning permission for an extension but work never started. I'm not buying an indemnity for an imaginary extension.

[readingrainbow]

Crazy!

[Heyheyheygoodbye]

Any news, Step?

Got our mortgage application appointment today DH is in absolute bits over it even though he earns well and we both have spotless credit, and are incredibly lucky to have a 25% deposit. Our house will be calmer once we get over this hurdle.

[StepAwayFromTheThesaurus]

Sorry your application was a disappointment. What seems to be the problem?

We haven't heard anything yet. DH will phone to check up on the mortgage app on Monday. It should be fine... I hope.

[Heyheyheygoodbye]

Sorry Step I don't think I wrote my post very well - I meant that DH was very nervous despite all signs being in our favour!

[StepAwayFromTheThesaurus]

I suspect it was actually me not reading it properly. It's amazing how the process can make you second guess everything and get nervous about stuff that you shouldn't be.

We're still a bit nervous despite being in a similar position to you. Credit check all fine. Affordability great. We've got nearly 40% deposit. No reason to think the valuation should be a problem. But still... You just always have a sinking feeling it's about to fall apart in this silly house buying system.

[Temporaryanonymity]

Still no mortgage offer my end. I've had a few queries from the mortgage co regarding lines on my bank statement. All they are waiting from is a reference from my last employer. They are being so slow in sending it back.

[Palomb]

Do mortgage companies ask for references from employers? I had no idea!

[Temporaryanonymity]

This one does. Mind you, they have a very old fashioned approach. I suspect they are busy calculating the interest on an abacus.

[Palomb]

I think we are going to exchange today or tomorrow and have been given a provisional completion date of the 6th! Whoooop!

[readingrainbow]

That's fab!

I got an update from the solicitor, they received the bonus from my Help to Buy ISA, so we're now just waiting on the vendor's solicitor to do the exchange. Yippee!

[Heyheyheygoodbye]

Yay Palomb, yay Reading!

We got PIL to sign the bit of paper the broker wanted about the gift, and just waiting for the bank to say yay or nay now. Looking good so far. Also filled in the solicitor's first form and paid the first fee. Eek!

[Skittlesss]

Our purchase hasn't moved since the 15th. All searches done. Waiting on vendor's solicitor to reply to the queries sent by ours 3 weeks ago! Emailed estate agents to let them know and she spoke to the vendor who hasn't heard anything about any queries so she is chasing her solicitor up. Really want things to move now as kids being turds sharing a room - they need their own rooms now. Haha.

[Heyheyheygoodbye]

Oh Skittle how frustrating! WTF have they been doing?

[StepAwayFromTheThesaurus]

That's great news Palomb and reading.

It sounds like your vendors have gone for crap solicitors, skittles. How annoying.

we heard back from the bank. The valuation came in fine (the surveyor matched the price we're paying, so I guess that's reassuring) and the underwriters are happy that it's all good to go. They should have processed the offer and passed it on to the solicitors by Friday, so we've gone ahead with the searches too. Hopefully it'll all be smooth from here on out.