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Thoughts about time to completion considering chain

5 replies

Blahblahblah81 · 09/08/2024 17:24

I know it's a high long is a piece of string answer but be really interested to know thoughts on the below

FTB with MIP buying our house - We're buying a house which the seller is engaged in a private sale of her ongoing property (potentially cash) - she told us she has almost completed on this.

We have a MIP and have applied for our mortgage today. In my head, I have 3 months for the whole process (and that would suit me!) but just wondering if others think it will complete sooner considering the circumstances.

OP posts:
OldTinHat · 09/08/2024 18:07

If you can find out when your FTB's MIP offer expires, that will give you an idea of worst case scenario.

Reno2023 · 09/08/2024 18:19

Will depends on the solicitor you choose and how efficient they are. Avoid online ones! I have learnt the hard way!

Wherestheoffswitch · 09/08/2024 20:44

Totally depends. We had our offer accepted a week ago, mortgage was finalised yesterday and we are due to get the keys in 4 weeks. When we sold our house last year before relocating and renting for a bit, it took 8 weeks from us accepting an offer to it going through.

People we are buying from this time had already had their offer accepted on a house and the house they are buying doesn't have an onward purchase. All the solicitors involved seem to be pretty efficient but have to say we were shocked that from offer to keys will be tied up in less than 6 weeks.

Needanadultgapyear · 10/08/2024 10:34

Average conveyancing process is about 16 weeks. We managed 13 weeks, but no one needed a mortgage and there were only 2properties in the chain. We had nothing to sell and top of chain was probate ( all complete).

QueenOfWeeds · 10/08/2024 10:38

We’re currently on three months, no chain, we are in rental and our vendors have already moved out. Due to exchange today (and completion next week) but searches and survey threw up a few things which are proving slow to resolve, so bear that in mind. I think we’ll be done within the next month, so though.

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