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Scotsnet

Welcome to Scotsnet - discuss all aspects of life in Scotland, including relocating, schools and local areas.

How long are property transactions taking? Scotland

13 replies

Babyitstimetomoveon · 25/09/2022 09:57

I'm about to put an offer in on a property. How long are transactions taking to complete just now? I recall it used to be 6 to 8 weeks. Nothing to sell, so purchase only and house is empty.

OP posts:
user1487194234 · 25/09/2022 10:48

Are you getting a mortgage ?

Babyitstimetomoveon · 25/09/2022 13:01

Yes

OP posts:
user1487194234 · 25/09/2022 13:54

That will be the main factor
Some mortgage companies are taking a while at the moment (Eg Nationwide)
Check with your Mortgage advisor

6/8 weeks is reasonable in your circumstances unless your Lender is slow at the moment

Babyitstimetomoveon · 25/09/2022 14:44

Lender is Nationwide, they are also hold my current accounts. Don't know if that will speed things up at all though!

OP posts:
Babyitstimetomoveon · 25/09/2022 14:46

I have a DIP and have sent my documents already.

OP posts:
user1487194234 · 25/09/2022 14:51

As mortgage is with Nationwide 8 weeks is more realistic

Chemenger · 25/09/2022 14:51

We bought in 6 weeks last September, without a mortgage. Our sale took about 8 weeks this August, our buyer’s mortgage came through right at the last minute.

midsomermurderess · 25/09/2022 14:52

I know someone who bought mortgage free here recently, it took a matter of days. Once your mortgage is approved, it should be very fast indeed. What do you need? Clear searches, essentially.

user1487194234 · 25/09/2022 15:04

Searches come through in a day or so in Scotland so not a factor

midsomermurderess · 25/09/2022 15:04

Kind of my point, dear.

0live · 25/09/2022 15:16

It’s usually the mortgage lenders that hold things up. If you are a cash buyer and both solicitors are the ball, it can be done and dusted in 2-3 weeks.

There have been some computer problems at the Land register, I don’t know if they have been resolved.

redboxer321 · 25/09/2022 16:32

Mine has been going on for weeks and the missives are still not done.
Buyer is cash purchaser. I'm supposed to be out by Oct 7.
Feeling a bit uneasy about the whole thing.

Groovee · 25/09/2022 16:43

My mum moved in 7 weeks from offer to move date. Her new place was empty. So that was 6 weeks. But neither her buyers or her had a mortgage.

My friend who is buying had her mortgage in place first and it took 10 weeks due to a couple of hitches.

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