Buyers/ sellers roll call - are we on number 10 now?!

[kerrymucklowe2020]

Hope this is the final one for us!

I see the house for the first time today! Haven't seen so much as a show home, only a photo of the front a couple weeks ago. We bought off plan over whatsapp, I'm feeling a mixture of giddily excited and sick with nerves....

Completion Friday. Wish me luck for the viewing!

Hope everyone else has a good day.

@notheragain4 ooh, how exciting! Good luck!!

@notheragain4 - whoop!

We would love to exchange this week, everything sorted apart from one last search that is due back today or tomorrow hopefully!

@Lurchermom we were hoping to exchange maybe on Friday this week but our bank changed their timescale to 3 week wait rather than 2 week wait as initially advised.

We have a mortgage offer but it seems to be taking an age to have it posted out to us to sign. We are with 'that bank' that has a massive backlog. TBH the whole mortgage process has been long and frustrating. Everything in our chain is completed. Everybody is waiting for us; heck we are waiting for ourselves too. It is a very awkward position to be in. Our buyers are having to drive at least 200 miles a week for the school run vs them being a 2 mins walk to the school if they lived here. I feel terrible about it all but everytime I call our bank, I think they record when we last communicated with them as they also seem to get frustrated with my calls recently. We plan to move ourselves and we really can't take the upheaval of moving our stuff into storage, we move in with the in-laws for a few weeks and do the move again; never mind it costing us a few thousands in the process. Here is to hoping that we get some positive news this week.

@notheragain4 good luck with the viewing. How exciting for you finally seeing the house!

@Notyetthere - I feel your pain on mortgages!

We have sold and living in rented, waiting to exchange on our purchase... 4 weeks and still no mortgage .. once every week or two they ask for a bit of info.. and then the wait begins again. Everything else is ready to go!

[quote Maybenexttime08]@Notyetthere - I feel your pain on mortgages!

We have sold and living in rented, waiting to exchange on our purchase... 4 weeks and still no mortgage .. once every week or two they ask for a bit of info.. and then the wait begins again. Everything else is ready to go![/quote]
You aren't with Platform are you?

For us they haven't even asked for further information. Nothing. In fact it seems that once our application went to underwriting, it got through that stage really quick. the rest of the time it has been sat in a queue waiting to get to the next stage. I spoke to the bank on the 14th Sept and they confirmed that offer had been agreed and that it would take up to 10 working days to receive the offer in the post. When I spoke to them on Friday, that had turned into 14 working days. Based on the latter timescales, our moving date is now definitely in October but we are ready to move within a short timescale if need be so we are hopeful that if by some miracle offer comes sooner, we are exchanging and completing asap afterwards.

After disappointment of last week's house, went to see an 'Offers over' house this morning we really liked. Listed with Purple Bricks (hmm) and only went on last night but they have four viewings today.

I loved it, just waiting to hear if husband did - but it is right next door to an old mum friend of mine (now we only meet up once in a blue moon to drink, so not close friends, but not estranged either). Can't decide if that would be good or not.

Houses in that price range and type (four bed detached, but it is a new build) are thin on the ground at the moment, so I think it will go to best offers, and really we only have ten grand to go 'over' with.

@Notyetthere - no TSB, and we're porting with a small amount extra, so no idea why so difficult. My DH is a Ltd company so I think that might be raising eyebrows, even though we have a 60% LTV!

So lawyer emailed over the weekend with the closing statement and saying we may be able to exchange this week. However, the closing statement is wrong as the stamp duty is incorrect as my flat hasn't sold yet.

Flat has another viewing today...still heard nada from the previous buyers.

We've had a call from the solicitor this morning asking if we are happy to exchange today. But we had that on Friday too. Just a waiting game. I've got so many jobs to get done - we're hopefully completing on Friday this week - but I can't do any of them til we know it's all systems go.

Hello, please can I join? We accepted an offer on our house about 8 weeks ago and had an offer accepted on the house we want a week later. All seemed to be ticking along quite well until Friday, when our buyer announced that his mortgage offer has come back at a lower amount than he applied for. Has anyone come across this before? It doesn't seem to be an elaborate ruse to reduce the price and the reduction in offer is not to do with the valuation on our house, so possibly his income.

@HouseFullofCats how frustrating, I'm assuming it's where lending has gotten stricter so the actual amount might reduce from the AIP after scrutiny. How far off is he? Can he try a different lender?

@HouseFullofCats it's a fairly common thing and why i don't understand why people are so obsessed with AIP//MIPs - they mean absolutely nothing, they're not a promise, they're just a rough estimate of the max amount they will provide if all conditions are met. My mortgage broker told me not to even bother with one - not worth our time or the paper it's printed on.

A lot of people get caught out when they think they can guarentee the amount on the paper esp atm when valuations are often coming back lower as well.

He can try and different lender or you can neogiate a difference in price between you and your seller as well if you like or pull out and put it back on the market

[quote notheragain4]@HouseFullofCats how frustrating, I'm assuming it's where lending has gotten stricter so the actual amount might reduce from the AIP after scrutiny. How far off is he? Can he try a different lender?[/quote]
I think that he's going to try another lender. I think it must be due to changes in the lender's borrowing. It took 7 weeks to get this far. He's been pushing forward otherwise with searches etc.

@notheragain4 so excited for you, 🤞good luck

[quote Bells3032]@HouseFullofCats it's a fairly common thing and why i don't understand why people are so obsessed with AIP//MIPs - they mean absolutely nothing, they're not a promise, they're just a rough estimate of the max amount they will provide if all conditions are met. My mortgage broker told me not to even bother with one - not worth our time or the paper it's printed on.

A lot of people get caught out when they think they can guarentee the amount on the paper esp atm when valuations are often coming back lower as well.

He can try and different lender or you can neogiate a difference in price between you and your seller as well if you like or pull out and put it back on the market[/quote]
Thanks. I know what you mean about the AIPs. Hopefully he will find another lender

EA has advised against renegotiating on the purchase at this time. Seller in no rush thankfully.

[quote Maybenexttime08]@Notyetthere - no TSB, and we're porting with a small amount extra, so no idea why so difficult. My DH is a Ltd company so I think that might be raising eyebrows, even though we have a 60% LTV![/quote]
Yes same here too. We are also porting and borrowing a small amount extra (6% of asking price). We are also at 60% LTV.

My solicitor is waiting to hear from their solicitor. But apparently my lender requires 7 days notice before completion so once my solicitor has heard from their solicitor, then they will contact my lender to see if Friday is ‘feasible’. To my mind it would make sense for them to ask that of the lender first (or indeed, to have already asked that on Friday gone when I told them) but what would I know hey.

Sounds like lots of people close to exchange... exciting! Fingers crossed.

I'm hoping for any news this week. It has all gone quiet waiting for searches to come back. I'd just like a form to fill out ot a query or something, just to remind me it's all still happening.

The house is outstanding. Utterly beautiful. Looks so much better than I ever could have imagined and it is on a beautiful plot, most of the rooms have a beautiful outlook which I wasn't expecting. There was even a vanity unit in the en-suite I didnt know about. It felt dream like, can't believe it's going to be our house. Roll on Friday!

Nothing can go wrong after exchange before completion right?! I'm terrified the mortgage company is going to change their mind!

Wow @notheragain4 that’s so exciting!!!

@notheragain4 very happy for you. It has been such a nerve wracking process to get here.

It's great to get some good news on this thread as it is a very frustrating process and usually we are complaining about the process but then once in while we get an update like this and it reminds us that it will all be worth it in the end.

Congrats Notheragain4!

Gone off today's lovely house after realising just how far it is from my son's likely secondary school. Sigh.