The nervous wait to exchange....

Soldato
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West Midlands
It will likely have required planning and building regs approval.

Make sure it has both of them
Yep thats a given, problem is i presume estate agents will sell any old tale which isnt true?

Anyone know if building regs have changed in last 20 years say for loft conversions? E.g. More insulation/fibreboarding?
 
Soldato
Joined
30 Dec 2004
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Bromley, Kent
Completing today, off to the flat to take photos and meter readinigs, then drop the keys off at the estate agents. Can't beleive it's basically done now. Time too look forward to the purchase of my new place!

- GP
 
Soldato
Joined
5 Jul 2007
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London
Supposed to be exchanging this week, with a view to completing mid-November. EA has been saying as much since late last week, but my solicitors have been quiet and had nothing from the seller's solicitors all week until today when I've just received this:

We are waiting lender clearance on a reported matter prior to being in a position to proceed.

2 matters were reported, we have received a response to one point however await to hear on the other.

We are on hold to the lender at the moment.

Anyone any idea of what that actually means? Is their mortgage at risk of not being approved/going ahead?
 
Associate
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Up North
Yep thats a given, problem is i presume estate agents will sell any old tale which isnt true?

Anyone know if building regs have changed in last 20 years say for loft conversions? E.g. More insulation/fibreboarding?

If you've got any Building Reg queries ask away - I'm a Chartered Approved Building Control Inspector (and also spent many years working at the Local Authority).

As above - the base requirement is compliance at the time of application submission, there is no retrospective requirement to comply with later Regulation updates.

There have been changes in the last 20 years, primarily relating to fire safety (must have fire doors now on escape route to form a protected zone of egress, whereas pre 2006 the minimum was self closers on the existing doors and an escape window in loft room). Glad this was updated because there's a chance you'd probably kill yourself from 4.5m plus height if the situation got serious before assisted escape was provided by the fire service).

Other updates are improved u-values for better thermal efficiency, but these clearly have no impact on your safety (but will do on your pocket in terms of heating bills).
 
Soldato
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2 Dec 2004
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Under The Desk, Wales
Supposed to be exchanging this week, with a view to completing mid-November. EA has been saying as much since late last week, but my solicitors have been quiet and had nothing from the seller's solicitors all week until today when I've just received this:



Anyone any idea of what that actually means? Is their mortgage at risk of not being approved/going ahead?

Prob waiting for the solicitor to get out of bed!
 
Soldato
Joined
30 Dec 2004
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4,681
Location
Bromley, Kent
Sounds to me just like they raised a query and only one has been answered. If they keep it vague my experience indicates its nothigng to worry about, they are dealing with it. If they needed something specific they would go to you. Just keep an eye and chanse them if you're worried.

Flat has completed too now, I'm all done and had the money come in! Bit of a relief for sure. Now on to the purchase fo the new house :)

- GP
 
Soldato
Joined
5 Jul 2007
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5,497
Location
London
Sounds to me just like they raised a query and only one has been answered. If they keep it vague my experience indicates its nothigng to worry about, they are dealing with it. If they needed something specific they would go to you. Just keep an eye and chanse them if you're worried.

Flat has completed too now, I'm all done and had the money come in! Bit of a relief for sure. Now on to the purchase fo the new house :)

- GP

Thanks, just heard from our solicitor again. Apparently, the property our seller is purchasing has a converted garage but, they don't have the relevant certificates in place for that, and so it's being reported to/by the lender which is causing a delay. So, looks like no exchange this week after all!
 
Associate
Joined
18 Aug 2009
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818
So I exchanged yesterday and completed today. I've tested positive for covid so I won't be able to do anything for 2 weeks. Ah the timing on that. The keys are still with the estate agents.
 
Soldato
Joined
12 Dec 2003
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11,003
Location
Wiltshire
We were discussing the exchange dates this time last week, then the buyer backed out this week after not getting his 15k discount on a house priced with the repair work (none urgent, but needs doing in the next few years) already factored in to the asking price this was seen at viewing and also discussed - we basically want what we paid for it in 2017 after renovating the interior. Can't move if we don't sell for asking so had no choice but to refuse as there's no more liquid cash to offer.

Anyway, back on the market and already 5 viewings booked in all before the lockdown commences. Scary that we could lose the house we are in for if this all goes **** up over lockdown, or we just simply don't get a new proceedable buyer in the next 2-3 weeks :(

Only moving because we need an extra room for WFH purposes. It's really not enjoyable in our current setup, but I guess things could be worse.
 
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