Buyers/Sellers Exchange waiting room

[spidershavetoomanyknees]

Currently waiting for exchange, stuck in a never-ending loop of "there's been a couple more enquiries higher up the chain" and "we're nearly there now". Wondering if there's anyone else who would like to join me here in the waiting room of doom to vent into the void.

Next train for Exchange (line terminates at Completion) is currently delayed and they'd like to apologise for the delay.

This afternoon my conveyancer emailed me about a key undertaking I've been waiting for as they're unsure it's worded correctly, I've emailed back suggesting they actually send it to me so I can ascertain if I'm happy with it or not !!!

They aren't wry forthcoming with documents.

You should get on the phone & email to them, be persistent & I'd be pushy, explain your position with the mortgage & that you cannot go beyond x point & would like the house exchanged to complete in good time.
February is a long time for a simple chain. Ask your solicitor what the hold up is

We keep getting flurries of activity then nothing.

We've signed the sale & purchase documents ready for exchange, received call from EA chasing dept suggesting that it would be 'end of June beginning of July' for exchange & completion.

But then an email the next day saying actually one of the chain (there are 1 below our buyers who is a 1st time buyer) are expecting a management pack or some such. I just don't know what that hasn't all been done by now.

So frustrating. We are ready to go.

Has anyone else started the dreaded decluttering? Hallway is full of boot sale stuff. I've so far found 4 Christmas trees (when we buy real ones), a rocking horse, an electric guitar complete with amp, violin,, keyboard & a massive box of Halloween costumes 🤣
We've been in this house for about 18 years so much stuff we have stored & don't need.
Very much feels like shedding skin

What on earth do they get paid for?!

@confusedmuch81 we actually did recently change solicitors. Stayed in the same firm but complained to the client care manager and they took it very seriously, moved our case to a Partner to run and its gone much better so far. Its awful they are allowed to just do what they want really and think nobody can do anything about it!

The whole thing is frustrating, I received enquiries and responded immediately, then silence, nothing from my conveyancer to say they'd passed my response on, nothing from the buyers solicitor to say they had received them or they were satisfied with them.

The sales progressor said it's very unusual for them to move into the next stage, so searches in my case, without dealing with any outstanding issues from initial enquiries, but clearly there are solicitors that do that.

@Wednesdayonline unfortunately the only other conveyancer at the firm is her boss, I'm not sure they actually deal with day to day. We're too far in to change firms entirely. I'm a bit stuck and don't really know what to do. It could work out fine if she reviews the docs quickly and raises all enquiries in one go and if there isn't anything major that comes up. But that's a few big ifs. I'm just dumbfounded that this is the process she supposedly always follows and she has 5 star reviews. Surely this would slow it down for the majority of transactions? Not to review a single thing or share a single report, form etc until everything is back just seems a backwards way of doing it.

I’m anxiously awaiting a call from the estate agents this afternoon! I think our seller has probably demanded a meeting with her solicitor today to see what has gone so wrong with the land registry registration… so who knows what the outcome will be! Our life has been on hold for 8 months now and I have a bad feeling that the outcome today won’t be a good one 😞

@BungalowBuyer We've had most searches back and just awaiting local authority and our solicitor hasn't even looked at what enquiries she's going to raise yet from even the pre contract pack so there are definitely some out there that don't follow the normal pattern. In our previous experience enquiries have been ongoing whilst waiting for searches (they were done in parallel), I think that is more the norm. I would say though if you've not had any follow up for a while they are likely satisfied with your responses.

That's the assumption I've made, so just waiting for them to review the local searches now. I can't imagine that could throw up anything controversial but who knows.

My buyers deadline for giving notice is looming and they want to move asap so at least they'll be pushing as well.

@BungalowBuyer fingers crossed for you, keep us posted, sounds like you are probably on the home straight. The whole property buying process in England needs a complete overhaul. It really doesn't need to be this uncertain, stressful or drawn out.

We have removal companies coming this week to quote and we still don't even know we'll definitely be moving lol. We were trying to hold out until exchange but it could then potentially be only a week or two between exchange and completion as everyone is on a bit of a deadline. So no choice but to start some of the prep now.

@confusedmuch81 That's my concern, that we'll go to the wire with exchanging in time for my buyers to give their months notice and then they'll want to be in two weeks later, to allow some overlap with their rental.

I've picked a moving company and started packing things we're not going to use, I think we're 5/6 weeks away from actually moving at this point, if we exchange in time.

Went on the market late March and accepted an asking price offer a few days later. All paperwork etc now completed and documents signed so waiting to exchange. Completion not scheduled until the end of the year though as we've moving abroad which just adds 20 more layers of complication (yay brexit).

Our only just left school buyers coped well with the survey on our 1890 house which basically read like armageddon - we did point out that we've been here over 20 years and the house hasn't collapsed into the basement so probably won't happen in the future. They were happy with that!!

Hello All,

Needed a suggestion. I applied for Halifax mortgage through couple of brokers, as per them the maximum Halifax can offer us is 85% LTV. Unfortunately we do not have 15 percent deposit on us. I then tried applying for AIP myself but the result was same as above. I got a call from Halifax mortgage advisor today to understand if we are interested in going ahead with their mortgage, I did tell them the above issue, she suggested that we have a detailed call this week to check if 90 percent LTV is possible. Do you think it makes sense to have this call. Has anyone got positive results post this call. Please advise.

Is there a reason it has to be Halifax? Use a broker, that's your best bet. They will be able to better advise.

Careful with making too many mortgage applications as this will affect your credit score which will affect future mortgage applications.

@ClingingOnNow The broker is unable to get beyond 85 percent mortgage. The Halifax mortgage advisor suggested she can try to get 90 percent mortgage.

Why can’t the broker get beyond an 85%? If you really want a 90% mortgage then you’ve got nothing to lose with the call with Halifax but feels like it’s going to be likely you won’t get one. What’s your plan if you don’t?
imagine the rate on a 90% is going to be pretty horrible too. Can you afford the repayments?

@asian when I applied for my first mortgage Halifax would only offer us a 75% mortgage, they gave no reason as to why..
we ended up going with Barclays who gave us a 90% one

Sure, let me try Barclays. Thanks for your guidance.

@instantpotnoodle Yes we can afford the repayments. The reason they are offering us 85% is because we haven't been in UK for 5 years :(.

Everyone is texting me the news stories about mortgage rate increases 😬does anyone know if your rate / product is reserved once the full mortgage application is submitted? My app was submitted a week ago and is ‘with the underwriters’ this means I am not affected by any rate changes since the app was made right ? Assuming the offer comes through in 4 or so months? I am reading conflicting info about this.

otherwise all good news here. Buyers’ survey is on Thursday. Memos of sale being drafted by agents. Just paid for my searches.

to the lady packing crazy junk - watch some episodes of ‘sort your life out’ - Stacey Solomon. It will inspire you to get rid.

Still no reply, so today I went online to the firm's website, copied down the email addresses of all the staff on the conveyancing team, and forwarded my email trail to all of them asking if I could have confirmation that my allocated solicitor and conveyancing secretary are still working for them.

Half an hour later, I received an email from my solicitor to say she has my file back and will be in touch asap.

Let's see.

(Why does it have to come to this? I'm not unreasonable!)

Surely you won't have to wait 4 months for your offer? We got ours with the Halifax and were approved 3 days after the application was submitted.

I believe once you have your offer it won't be withdrawn.

I had the same question. I had applied before the rate change (NatWest) and got the offer on Sunday at the original rate so you should be ok.

The solicitor for the buyer of my dad's house has finally asked for their funds! I feel like we're finally getting somewhere now.

Then there's the saga of our own purchase...😩 going for a viewing again tomorrow now that it's empty.