Page 39 | The all new buyers/sellers waiting room (x 6!) thread

Champere · 2024-11-23T04:57:16+00:00

Welcome across everyone! We’ve got six nights until we move and the insomnia has set in! It’s taken us three threads to move and I hope this thread is the one I graduate on…. Best of luck to everyone! May your agents be truthful, your conveyancers responsive, your lenders generous and your chain reasonable!!

kirinm · 30/01/2025 14:34

Hoolahoophop · 30/01/2025 14:32

@kirinm we pulled out of a house purchase 12 years ago because the house had subsidence, treated, but still the premiums would have been too high for us at the time as the house was pushing us to our limits. Which was a shame, it was a great house and the new owners have done wonderful things with it.

But the house we are buying now is even better, so I guess it all happens for a reason.

I will at least feel like there's no point being upset if the reason we can't have it is because our lender won't lend!

movingtoreading · 30/01/2025 15:43

Can someone explain why the mortgage redemption amount includes the earley repayment fee if we are porting the mortgage ? Lawyer says is because exchange and completion does not happen the same day ? Does the back pay that money back ?

DaringlyDizzy · 30/01/2025 16:45

Not sure what porting mortgage is but our flat has a mortgage with lender X and they are our lender for our purchase... we pay the 4k early fee and that is refunded to us once house completes.

MotherOfRatios · 30/01/2025 16:54

DaringlyDizzy · 30/01/2025 16:45

Not sure what porting mortgage is but our flat has a mortgage with lender X and they are our lender for our purchase... we pay the 4k early fee and that is refunded to us once house completes.

Porting is where nothing new is taken out the mortgage just gets moved

kirinm · 30/01/2025 17:06

Offer rejected. That was quick. Bloody estate agent called my mortgage broker to ask if we could borrow enough and then told my broker that our offer was a bit too low!

Ilikewinter · 30/01/2025 17:08

movingtoreading · 30/01/2025 15:43

Can someone explain why the mortgage redemption amount includes the earley repayment fee if we are porting the mortgage ? Lawyer says is because exchange and completion does not happen the same day ? Does the back pay that money back ?

It must be lender specific, we're with TSB and ported our mortgage, the early redemption fee was just waived. We completed 2 weeks after exchange.

movingtoreading · 30/01/2025 17:12

Yes turns out layer did not say we are porting ask her to ask the bank to re issued and they removed the fee for early repayment🤦🏻‍♀️

movingtoreading · 30/01/2025 17:12

kirinm · 30/01/2025 17:06

Offer rejected. That was quick. Bloody estate agent called my mortgage broker to ask if we could borrow enough and then told my broker that our offer was a bit too low!

What ? Can they do that ?

Alwaystired2023 · 30/01/2025 17:18

Just found this thread, losing the will with a sale which has taken a year once it's Feb., a year and counting! Trying trying to stay positive but I am feeling quite glum and dejected

NormallyAwkward · 30/01/2025 17:37

@Alwaystired2023 a year?! I feel for you! That must be soul destroying but hopefully it can't possibly take much longer.

NormallyAwkward · 30/01/2025 17:40

I finally managed to speak with my solicitor. I should get my title report on Monday (we'll see... 😂) and proposing completion dates up and down the chain. Now relax for the rest of today and then tomorrow I've got someone round to quote for removals.

Abra1t · 30/01/2025 17:41

Alwaystired2023 · 30/01/2025 17:18

Just found this thread, losing the will with a sale which has taken a year once it's Feb., a year and counting! Trying trying to stay positive but I am feeling quite glum and dejected

Tell us what happened! If you can bear to. Huge sympathy.

DrMaxwell · 30/01/2025 17:46

Ooh hello, I'll come and perch if that's OK. DP is selling his house and we're buying one together, it's all very stressful so it's nice to have company for the nail biting.

Abra1t · 30/01/2025 18:01

You need all the support you can get!

Alwaystired2023 · 30/01/2025 18:03

Thank you so much, I agree - surely it can't take much longer?! I think I've been too affable and supportive, the buyer was a cash buyer, then they wanted to get a mortgage because it suited them, then a different mortgage for tax purposes... I should have put my foot down and said cash as agreed or no purchase. But hindsight is a wonderful thing.

They've gone through three sets of solicitors, my own solicitor set up their own firm halfway through this process which I think made them seriously drop the ball.

I can't tell you how much I have tried to respectively chase, to get quite cross (but polite), to explain that I'm on mat leave with a baby and the stress of potentially returning back to work early to cover the financial nightmare of this last year is totally unfair... nothing is moving things along I'm afraid

Abra1t · 30/01/2025 18:06

Alwaystired2023 · 30/01/2025 18:03

Thank you so much, I agree - surely it can't take much longer?! I think I've been too affable and supportive, the buyer was a cash buyer, then they wanted to get a mortgage because it suited them, then a different mortgage for tax purposes... I should have put my foot down and said cash as agreed or no purchase. But hindsight is a wonderful thing.

They've gone through three sets of solicitors, my own solicitor set up their own firm halfway through this process which I think made them seriously drop the ball.

I can't tell you how much I have tried to respectively chase, to get quite cross (but polite), to explain that I'm on mat leave with a baby and the stress of potentially returning back to work early to cover the financial nightmare of this last year is totally unfair... nothing is moving things along I'm afraid

That’s dreadful!

Our buyer is doing something unusual with his existing house and selling it to his own property company while obtaining a mortgage for buying ours. We shall see how that goes.

DaringlyDizzy · 30/01/2025 18:43

Alwaystired2023 · 30/01/2025 18:03

Thank you so much, I agree - surely it can't take much longer?! I think I've been too affable and supportive, the buyer was a cash buyer, then they wanted to get a mortgage because it suited them, then a different mortgage for tax purposes... I should have put my foot down and said cash as agreed or no purchase. But hindsight is a wonderful thing.

They've gone through three sets of solicitors, my own solicitor set up their own firm halfway through this process which I think made them seriously drop the ball.

I can't tell you how much I have tried to respectively chase, to get quite cross (but polite), to explain that I'm on mat leave with a baby and the stress of potentially returning back to work early to cover the financial nightmare of this last year is totally unfair... nothing is moving things along I'm afraid

Oh no, im sorry! Three set of solictors just sounds horrific.
Where abouts are you now with it all? (I have a cat chasing a mouse, a tandtruming child and a husband burning dinner atm so apologies if i missed this bit of info)

Our buyer started something weird and had the hammer dropped on him by our solictors. Thank god theyve been amazing.

He was a cash buyer and then was doing a private loan with interest from a family member. Then setting up a company and using invested funds and now hes back to cash buying with his savings!

mendandmakedo · 30/01/2025 19:22

Alwaystired2023 · 30/01/2025 17:18

Just found this thread, losing the will with a sale which has taken a year once it's Feb., a year and counting! Trying trying to stay positive but I am feeling quite glum and dejected

Don't lose hope we exchanged today after a similar time frame. It fell through 3 times.

Abra1t · 30/01/2025 19:35

mendandmakedo · 30/01/2025 19:22

Don't lose hope we exchanged today after a similar time frame. It fell through 3 times.

Show quote history

Congratulations!

Alwaystired2023 · 30/01/2025 19:52

Ah congratulations @mendandmakedo that's brilliant for you and heartening to hear.

Honestly this whole thing has just been the biggest stress, I do believe that it will be concluded soon (as has been my mantra for some time!)

Tupster · 30/01/2025 21:49

Hi @Alwaystired2023, I'm just past my first anniversary of this whole process. 29th Jan 2024 I accepted offer on mine and placed offer on one I want to buy. That same 3 person chain is still here a year later hoping to finally reach exchange in February. You're not alone!

Crouton19 · 31/01/2025 08:45

kirinm · 30/01/2025 17:06

Offer rejected. That was quick. Bloody estate agent called my mortgage broker to ask if we could borrow enough and then told my broker that our offer was a bit too low!

CF! I won't be passing our agent our broker's details!

Anyhow, I've taken my ticket from the machine and joining the queue here as well. Waiting to hear if our offer is accepted.

movingtoreading · 31/01/2025 10:44

Really surprised with the removals quotes got two both around 1500 ! We have a lot of staff 3 bed with garage and garden furniture ! Pleasantly surprised was budgeting 3000 🤣

Alwaystired2023 · 31/01/2025 11:08

So pleased to have found this thread and not feel alone. More enquiries have been sent to my solicitors overnight so back to square one with no clue how long they might take to resolve

Crikeyalmighty · 31/01/2025 11:26

85 year oldFIL move in went very well yesterday- he's now on the box unpacking stage - start to finish sell and buy has been 5 months - with an 8 week gap between selling and buying -

I'm now graduating and wishing you all well xxx