House sale- concerned?

[50plusandfabulous]

I accepted an offer on my house first week in august 10k under asking . There is no sign of a survey and I’ve been pushing for updates, esp as I was being badgered for a completion date and filling in paperwork etc ! I’ve insisted on an update this week and apparently the mortgage is being ‘underwritten’ and she had to submit ‘proof of deposit’.
I’ve not bought a house for over 20 years , but I’ve never heard of all of this. Given the current situation re interest rates etc I’m starting to get a bit concerned and the only saving grace is that I’m not in an upwards chain as I’m renting for now.

Thoughts? - feels like it might not happen? 😕

Two months later and still faffing with the mortgage does sound unusual. Did their offer expire? Your solicitor and agent should be regularly chasing up updates.

That is a long time.
I bought my first house in June and the proof of deposit etc took days. We had to renew our DiP as well but again that took a day or two max. I would push your solicitor to chase up and find out exactly what is going on. If it sounds like a non answer then push them more.

This is unreasonable. To show commitment they need to do a survey asap. I would be on to agent and Solictor demanding answers

Mortgages are taking longer because of people rushing to remortgage & banks being more thorough. In this climate with mortgage offers getting pulled very fast I wouldn't do a survey as a buyer without my mortgage in place.

They’ve said it will be another week- the buyer is getting divorced ( as am I ) and i think she’ll be taking a hefty mortgage , i don’t know where circs but i wondered if the affordability is becoming a concern.

I feel your pain .. my dh has sold his house stc that was May !! Gets a email every few weeks asking random questions about boundaries etc.. answers them then nothing ... last email stated the buyer was waiting for the mortgage to be approved.. huh should that not have been done months ago .. he's replied to this and guess what ... nothing !

@smine1 i’m fed up with the whole thing, if it doesn’t get sorted I’ll be pulling it and moving back in with estranged DH, that will be fun, luckily we have two spare rooms.

We made an offer on a house end of June and completed mid October. Our mortgage offer took ages to come through. In fact in came through two weeks before completion. It was the only thing we were waiting on. Our mortgage broker told us that their was an unusual amount of demand for mortgages. A combination of the crazy market in summer and people trying to lock in rates by remortgaging. And so things were taking unusually long.
In addition to this we originally expected to get tge offer through pretty fast (the bar was set from previous experience). So we waited for a bit to get the survey done. We didn't want to spend the money on a survey before we knew the bank would loan us the money. When we realised the mortgage offer would take a while we contacted several survey companies and got the feedback they were to busy to take on our job.
Just putting this out there to show it might not ve intentional bad will from your buyer. Sometimes people's hands are tied.

@50plusandfabulous I understand that completely, it's all a snails pace , fingers crossed for you

Hmm.
Is the buyer dependent on the sale of their house to buy yours?
Divorcing couples can be nightmare buyers and vendors. Are they rowing about the distribution of equity, which would affect the deposit amount? I would think the mortgage co would want to see the financial settlement…

Your EA should be working hard on sale progression, and giving you updates.