The nervous wait to exchange....

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We had to do 6 months recently for our current purchase. As my wifes parents have given us some money we had to show proof of that being paid into an ISA, Then 6 months of statements for them to prove where that ISA money came from.

See if we did have any extra income we hadnt declared i woukd understand that but on the forms we've filled in it quite clearly states the deposit being used is coming from the proceeds of selling our current house so theres been no extra large sums at all. Six months just seems a tad excessive even the mortgage lender only want 1 months
 
Soldato
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See if we did have any extra income we hadnt declared i woukd understand that but on the forms we've filled in it quite clearly states the deposit being used is coming from the proceeds of selling our current house so theres been no extra large sums at all. Six months just seems a tad excessive even the mortgage lender only want 1 months
Oh god yeah that is madness really... but through the hoops we must jump
 
Soldato
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Had the valuation done earlier this week, mortgage fully approved yesterday. Searches are due back next week so we're hoping to be in within the next 4-6 weeks. The sellers are keen to move ASAP and the solicitors seem on it.
 
Associate
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So due to exchange contracts on Friday, our buyer has been made aware our new build wont be ready until March and this didnt appear to be a huge issue for them for now

The second reason for delaying completion is so I can port my mortgage and save a fair chunk on ERC - Fingers crossed the builder doesnt decide to change their mind on the March date
 
Soldato
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Only non standard sales dont necessarily show on public LR data. The only real way that their story could be true is if they bought the house at auction, or from a bank, ie a repossession purchase. I believe these sales are not shown if they are deemed to be outside of usual market value.

Spoke to them on the phone yesterday. Seems when they bought it the previous owners took their existing house as a rental property. Guess that explains why it's not listed.
 

Jez

Jez

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Ah yes if the TX was skewed heavily outside of market value due to a PX type deal then that would explain the lack of listing :)
 
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So tomorrow is M-Day. It is strange seeing your entire life essentially boxed and all pilled up in a one room. It is both a sad and an exciting day.

Been lurking around this thread for a while since we started to think about moving. Sold our house for pretty much asking price within a week of advertising, had an offer accepted on the house we wanted within another 7-10 days. SInce then we have had the dreaded wait to exchange. We have signed all our contracts so hoping that exchange day shall be soon.

Like you I have begun thinking more and more about moving day. Moving is absolutley the right thing for us to do. Despite only living in our current house for about 7 years there are a lot of strong memories here, our entire family life so far, my partner our son and myself is wrapped up in this little house. Our son is 7 years old and I think packing up his bedroom and saying goodbye to his superhero themed bedroom which was a labour of love to create his going to be a tear jerker.
 
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Been lurking around this thread for a while since we started to think about moving. Sold our house for pretty much asking price within a week of advertising, had an offer accepted on the house we wanted within another 7-10 days. SInce then we have had the dreaded wait to exchange. We have signed all our contracts so hoping that exchange day shall be soon.

Like you I have begun thinking more and more about moving day. Moving is absolutley the right thing for us to do. Despite only living in our current house for about 7 years there are a lot of strong memories here, our entire family life so far, my partner our son and myself is wrapped up in this little house. Our son is 7 years old and I think packing up his bedroom and saying goodbye to his superhero themed bedroom which was a labour of love to create his going to be a tear jerker.

I know exactly what you mean we currently have 3 bed place that isnt big enough for our current needs so to move is exactly what my family needs, but on the flip side we've only been here 5 years but in that time we have started a family had two chiildren and had lots of great times in this house and I've done so many things to the house i feel like it truly is my home but I'm sure I will feel the same way in a few years about the new place
 
Soldato
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Been lurking around this thread for a while since we started to think about moving. Sold our house for pretty much asking price within a week of advertising, had an offer accepted on the house we wanted within another 7-10 days. SInce then we have had the dreaded wait to exchange. We have signed all our contracts so hoping that exchange day shall be soon.

Like you I have begun thinking more and more about moving day. Moving is absolutley the right thing for us to do. Despite only living in our current house for about 7 years there are a lot of strong memories here, our entire family life so far, my partner our son and myself is wrapped up in this little house. Our son is 7 years old and I think packing up his bedroom and saying goodbye to his superhero themed bedroom which was a labour of love to create his going to be a tear jerker.

It has only been the 2 of us but it was our first house purchase and we have spent close to 5 years here. It did not really hit me until the weekend when I looked out of the window and thought "God I am going to miss this view" then walking into a bare bathroom to have a shower. The whole house just looks "wrong". It is 100% the correct thing for us to do but is becoming more and more of an emotional ride and starting to load the van tonight will only make things worse.

Added to that our solicitor seems to have completely gotten what we owe them wrong.I worked out that it is around £31,000 left to pay, She just came back with a bill of £90,000 as she has forgotten to add 2 payments we have made + gotten our mortgage closing balance completely wrong. UGH
 
Associate
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Glasgow
We had to do 6 months recently for our current purchase. As my wifes parents have given us some money we had to show proof of that being paid into an ISA, Then 6 months of statements for them to prove where that ISA money came from.

Dealing with this myself at the moment. Made extra fun by online statements not being acceptable unless they are stamped by the bank and my savings account (NS&I) seeming to have no statements available at all.
 
Soldato
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UK
How long should I expect for the searches to come back? We've received the mortgage offer in the post today with the solicitor saying we should be in within 4-6 weeks from now, from members experiences, do you think this is accurate?
 
Soldato
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Wales
How long should I expect for the searches to come back? We've received the mortgage offer in the post today with the solicitor saying we should be in within 4-6 weeks from now, from members experiences, do you think this is accurate?

Varies entirely dependant on area and what method they use.

We do our searches direct with the local and water authorities, and I think we have the best in the country (local search returned in 2 days, water in 5 max).

Lots of companies use search providers who do personal local searches rather than official, meaning someone goes out and inspects the local authority records personally to gather the information. This costs slightly less (but it's free to inspect the records so it's how search providers make their money) but can take weeks to be returned as local authorities aren't keen in it so appointments can take ages.

Plus some councils have 6-8 week turnarounds even if you go direct!

Searches are rarely the delaying factor anyway, it's usually enquiries and title issues etc...

Tl;dr how long is a piece of string :D
 
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