House buying success stores after a rocky road.

[TryAgainAnotherDay]

first time buyer.

First house fell through due to seller not sorting paper work and then our mortgage offer expired (whole situation lasted over a year)

Second property we have exchanged on, new build house that keeps being pushed back and pushed back. Was expected to be in by easter, then pushed back to September, now pushed back to April. Mortgage offer expired in January (can't extend and interest rates have increased by 2% since we got the offer) have a clause in contract so pretty sure we can pull out as the new expected completion date is longer then 6 months after expected completion date on exchange. If not lose all our deposit.

After all the fees with paying for 2 houses and increase in mortgage rates won't be able to grt another mortgage and will have to go back into rented which is actually more then what the monthly payments would be if purchasing.

Was a nice pipe dream whilst it lasted.

Anyone else ever been through this and eventually had a successful outcome??

Feeling very deflated right now and need some positivity

Oh dear

God, that sounds awful...sympathies! I have no experience of buying new build off plan so I can't relate directly, but I had a nightmare time moving 15 or so years ago, with chain after chain collapsing (12 in total). We had a punitively expensive mortgage because a fix had ended and we kept thinking there was no point remortgaging because we'd be moving any month now etc etc. Anyway, after a year or two of that shenanigans, with a lot of money down the drain for surveys and conveyancing etc, we decided it just wasn't meant to be for now, took the house off the market, stopped looking for an onward purchase, remortgaged and got on with our life for a bit. Around two years later, we put the place back on, got a buyer quite quickly and went into serious househunting mode for a couple of weeks, found a place we reckoned we could live with and it all went through first time. Our seller was lovely - that rare creature, the person who plays straight and does what they say they're going to do - our buyers didn't mess us around, and even the agents were tolerable. We got in by the skin of our teeth before our finances collapsed, but that's a whole other story.

You will get there, but maybe it's just not meant to be for now.

Sorry this has happened. Next week we are moving . We decided to move autumn 2019 and palmed to put house on market in the spring then covid hit. Waited until the summer and went on market and found prices shot up 50k in 3 weeks where we were buying but not by us so took house off again.

Summer 2021 house went back on and buyer in 48 hours , had an offer rejected. Then found a private sale. Our buyer couldn’t port mortgage. No more luck with offers and vendor went to market.

Feb 2022 went on market as a storm hit and in half term. Nothing for 6 weeks then 2 offers in space of an hour and another next day. FTB couldn’t get mortgage so July it went back in. New buyer in 24 hours with a split chain, all went smoothly and completed in September.

Went into temporary accommodation. The private sale we had offered on had had 3 offers fall through and accepted an offer an hour before we got our offer in March 22. Offered on something else and didn’t get it. In the space of a year had 15 viewings, 3 offers in then house number 16 in March this year we walked in and absolutely loved it. Thought we couldn’t afford it but they accepted 10% under. Completed in May with mortgage close to double initial quote and been renovating. I can’t wait to live in it next week, best house we have had and most probably the last now.

My stepmother also had 4 years between deciding to sell and finally getting into new house . Hers has turned out perfectly as is next to her family like a self contained annexe almost which is exactly what needed now we have lost my Dad. It is a horrible process but eventually comes good, hang in there.

Aww Thank-you, i'm glad it's all worked well for you both.

I am thinking to just hold off for a little while now. Go back into rented and reassess on the next couple of years.

This may not be the disaster it feels like at the moment. I would spend the next 12 to 18 months with your head down saving every penny you can. Make sure you use your deposit to make full use of your ISA allowances and really focus to add as much to your savings as you can. Savings rates are higher than they have been for a long time.
There is a good chance that you were going to over pay on the new build. There is a very good chance that house prices, and eventually interest rates, will come down - possibly significantly - in the future. You might end up being able to buy something better for less in the not so distant future.
Fingers crossed for you.

We had a similar problem with a new build. Offered in August, they said we'd be in by Oct, then it was Xmas, etc. We finally moved in end of March but we had to play hard ball with the builders and threatened to pull out as our offer ended in a week.

We do love the house although it was so stressful buying it

I bought my first house in the 80s and this is my 5th house - and the only one to cause any issues.

Unfortunately you only ever hear negative stories about anything, because success stories aren't as interesting and sound boastful. Hopefully you will get some lovely success stories here though