The all new buyers/sellers waiting room (continued) (continued) thread!

[MovingToPlan]

The previous thread is almost full! We've had lots of completions, exchanges, offers accepted, maddening conveyancing teams, strange requests, and worries to last a lifetime. Welcome welcome.

Catch up here: The all new buyers/sellers waiting room (continued) thread

My update is that everything seems to be lining up and we're looking at exchange next week. 🤞 Hoping to complete a few weeks after that.

Good luck to you, whatever stage you're at in the process.

It doesn’t sound like you are very close. ID checks are normally done at the beginning of the process.

The valuation still needs to be done and an in depth survey, if you are getting one. And the searches need to be completed and solicitors enquiries raised & answered.

How long are people waiting for a mortgage to be approved?

We got a mortgage AIP before we put in our offer, got our offer accepted and rang the bank to get an appointment to apply for the mortgage. We had to wait 2 weeks for the appointment which I thought was a micky take in itself.

We applied 2 weeks ago, and for 2 weeks, they've been emailing every couple of days querying direct debits (some for only a few pounds!) and asking for proof of income from employers, despite monthly basic salary being clearly stated on our pay slips and showing them our march statement which shows total earnings for the tax year on them, so me and DH have had to each get our HR depts/managers to write a company headed letter to the bank stating our yearly basic salary. This is with HSBC

AIBU to think that this is terrible?! That's a month of waiting and we've still not had our mortgage approval!

Oh sorry I wasn't clear.

We received our mortgage offer 21/05.
In depth survey done and is fine.
Searched back and all enquiries satisfied 10/06.
Our solicitor didn't do our ID and Fund checks until searches were done. We sent them back 11/06.

I'm struggling to know what is left when we have completed all of these steps now.

It’s still hard to judge how close you are to being done @Unexpectedbaby because that also depends on other people in the chain ( if you are in a chain) and how they are progressing on their side.

No chain at all. We are with parents and sellers have already moved out.

It does sound like you are close to being able to exchange contracts in that case. It may be time to suggest a completion date that you would like to your seller ( via the EA) to see if they are in agreement.

Ours was literally a day - submitted on Friday and it came through on Monday. It was a desktop valuation though

@Pitstop1986 ours is with HSBC and it took a week from the full application going in to approval - we did it through a broker though who was really proactive and asked for everything in advance which definitely helped.

We were also asked for everything in advance and sat with the mortgage advisor for an hour going through bank statements and sundries... this is so frustrating! I used a broker last time, but for some reason they don't deal with HSBC or Santandar so we've had to do the application ourselves

How long did everyone’s searches take to come back? Just wondering whether to chase or not!

Ours came back 2 weeks later which is the time frame our solicitor advised us they would when they requested them.

Our local authority search took 4 weeks to come back, everything else was under 2 weeks.

Mortgage was approved same day our broker submitted it, pending a desktop valuation done the following day.

I THINK we are at the point of exchange. Or would be if the others in the chain could agree a completion date (we have said we will do any date but don't want a simultaneous exchange and completion).

Has anyone had an additional viewing (post offer acceptance), to measure up for furniture? I really want to ask the EA if we could pop round one day whenever suits the seller just to measure a few bits but not sure its the norm.

I still think its madness you make the most expensive purchase of your life on the basis of a quick 15 minute look around!

Yeah we went for a 3rd viewing last week. (We did 2 prior to offer).

We went purely to measure things, however our sellers have already moved so it just needed to be for around the EAs schedule.

Ye we went to see the house twice after our offer was accepted. It was vacant possession so just needed to book with the EA to open up for us.

Our first buyer came to see our house 4 times. The final time 'to measure up' ... then she pulled out 11 days later :(

Definitely go back for a look round.

I think there was about a month from AIP to full offer. Although there was a period of time whilst we were making offers etc with our AIP in hand so I'd say it took a couple of weeks to get the full hard credit check offer after we'd had an offer accepted on the house we wanted.

The only thing they made us do was wait till our new bank statement was created so they could double check we were still in receipt of child benefit (even though it showed on all our previous bank statements and we have a 4 year old) felt like they were almost trying to stall or find a reason to delay lol.

We also used a broker who was super pro active and our finances are very uncomplicated with no outstanding debt apart from a credit card we clear every month.

Afternoon all. Good news is that my vendor is doing some bits and bobs as requested (eg replace an internal door). Bad news….he’s asking for money off his purchase as it needs new roof and the EA is saying he doesn’t think it will go down well with that vendor who will likely say no and he’d rather it go back on the market 😬
Im hoping my vendor will just go through with it anyway otherwise a chain of 6 waiting neatly 6 months to get anywhere close to exchange will collapse along with my nerves.
my soon to be ex husband doesn’t seem bothered. He moved in with parents last year and had a new girlfriend within a few months of our separation, whereas for me I’ve sourced a great house for me and the children I can just about afford and I’ve put money into the move already and done literally everything from staging the house, the paperwork, the emails so if it falls through I don’t know how I’ll cope.
Im catastrophising I know 😝 so 🤞 it all works out.

I've almost graduated the thread, our decluttering efforts did not yield accurate results when removers came today, we have one last load coming tomorrow. 😖😖😖

But despite the house needing a lot of redecorating and the garden needing work, I'm already feeling pleased. We did it.

Well to re-iterate my username - the English system sucks! We secured our onward purchase last week, pressed go on the mortgage application and booking a survey this morning, only to get a call at 5pm that our buyers buyer has 'changed their minds and got an offer accepted elsewhere' and collapsed the chain.

Our buyers are now back on the market, and our onward will be informed tomorrow - so we bloody hope they wait for the chain to complete again.

Should I be considering a move to Scotland? Also, is it wrong for me to wish bad things upon my buyers buyer's new purchase?

So today I received the bill from the snagging company, it's nearly £1k, I've emailed them, as I'm sure they do it in two parts, and obviously, I'll pay them for the bit they've done, but I hope they'll be able to reduce the price a bit for the bit I don't need them to do - or maybe not.

Congrats @MovingToPlan and commiserations @TheEnglishSystemSucks - it really fucking does!

I have perpetual jaw pain at the moment, think I must be grinding my teeth in my sleep. I’m so sick of it all!

Thanks @sugarbyebye , I hear you on the effects of perpetual stress. Gah.

Latest in our moving saga is daughter and dsil have found a house offered and had it accepted. They only need a mortgage of around £80k and had it agreed in principle. They contacted broker to start process and now lenders saying no as dd new job in teaching is a years contract. They were happy to agree it in principle but have now moved goalposts.
Our house is back on the market and we've had one offer which we rejected. They've upped it by £10k but still nowhere near what we'd accept. Another viewing booked for Wednesday which our EA is very hopeful about but who knows.
Will we ever get to The Lakes?😭

@MovingToPlan so pleased for you.
I will never never ever move again.

Teachers building socierty lend on those type of contracts no issue, the interest rate isn't great though but I know loads of people who use them