So how long from offer to completion?
Discussion
My record is 4 weeks from viewing to keys. No chains, empty house, we were cash buyers in rented digs and seller also wanted to move quickly.
That included a change of solicitors our end (same firm though) and full survey carried out. I averaged 90mins a working day on the phone to everyone, and think I lost 5 year of my life through the sheer pressure of it all. Was worth it!
That included a change of solicitors our end (same firm though) and full survey carried out. I averaged 90mins a working day on the phone to everyone, and think I lost 5 year of my life through the sheer pressure of it all. Was worth it!
Andehh said:
My record is 4 weeks from viewing to keys. No chains, empty house, we were cash buyers in rented digs and seller also wanted to move quickly.
That included a change of solicitors our end (same firm though) and full survey carried out. I averaged 90mins a working day on the phone to everyone, and think I lost 5 year of my life through the sheer pressure of it all. Was worth it!
I guess that's the point. Sit back and it can take an eternity. Drive the process and it can be done pretty quickly. And why not? Once the finance is in place none of it is rocket science.That included a change of solicitors our end (same firm though) and full survey carried out. I averaged 90mins a working day on the phone to everyone, and think I lost 5 year of my life through the sheer pressure of it all. Was worth it!
B3NNL said:
Friday 17 Oct
Time since start: 15 working days
Survey report complete, mortgage fully approved.
Solicitors started searches.
Not bad. FWIW my advice is to make sure you know what the progress is on each and every search. I had a delay when one of the searches got stuck with one of agencies (Water IIRC) and held up everything else by a week or two. A mystery from the outside, understandable when explained to me. Then you just need to make sure the solicitor is leaning on the counterparty to speed up that specific part of the process.Time since start: 15 working days
Survey report complete, mortgage fully approved.
Solicitors started searches.
Started process in Dec 13, completed on sale of our house in July 14 and completion of purchase of next house about 6 weeks after that - TOTAL NIGHTMARE. (had to give up on the first house we wanted to buy and got something else).
Things to learn from: 1) use a proper lawyer, not these so called conveyancing types, cheaper rates but takes 10 times longer for them to do anything,
2) Never buy a property where there are access concerns, rights of way on the road to your house, ie, you own the house but the land surrounding is leasehold or owned by someone else (avoid avoid avoid avoid because you then you have to deal with 3 sets of lawyers = more time and money wasted).
3) Never use Santander as your mortgage company, or if you do then make sure you do the mortgage application in person at a branch, not initially on the phone as I was hoodwinked into doing by Santander. What a useless company. Do as much as you can in person, things via email, phone, fax tend to go wrong, stuff gets lost .....
2014 pretty much the most stressful year ever, NIGHTMARE is an understatement.
Things to learn from: 1) use a proper lawyer, not these so called conveyancing types, cheaper rates but takes 10 times longer for them to do anything,
2) Never buy a property where there are access concerns, rights of way on the road to your house, ie, you own the house but the land surrounding is leasehold or owned by someone else (avoid avoid avoid avoid because you then you have to deal with 3 sets of lawyers = more time and money wasted).
3) Never use Santander as your mortgage company, or if you do then make sure you do the mortgage application in person at a branch, not initially on the phone as I was hoodwinked into doing by Santander. What a useless company. Do as much as you can in person, things via email, phone, fax tend to go wrong, stuff gets lost .....
2014 pretty much the most stressful year ever, NIGHTMARE is an understatement.
seadragon said:
Started process in Dec 13, completed on sale of our house in July 14 and completion of purchase of next house about 6 weeks after that - TOTAL NIGHTMARE. (had to give up on the first house we wanted to buy and got something else).
Things to learn from: 1) use a proper lawyer, not these so called conveyancing types, cheaper rates but takes 10 times longer for them to do anything,
2) Never buy a property where there are access concerns, rights of way on the road to your house, ie, you own the house but the land surrounding is leasehold or owned by someone else (avoid avoid avoid avoid because you then you have to deal with 3 sets of lawyers = more time and money wasted).
3) Never use Santander as your mortgage company, or if you do then make sure you do the mortgage application in person at a branch, not initially on the phone as I was hoodwinked into doing by Santander. What a useless company. Do as much as you can in person, things via email, phone, fax tend to go wrong, stuff gets lost .....
2014 pretty much the most stressful year ever, NIGHTMARE is an understatement.
4) Use a Mortgage Broker Things to learn from: 1) use a proper lawyer, not these so called conveyancing types, cheaper rates but takes 10 times longer for them to do anything,
2) Never buy a property where there are access concerns, rights of way on the road to your house, ie, you own the house but the land surrounding is leasehold or owned by someone else (avoid avoid avoid avoid because you then you have to deal with 3 sets of lawyers = more time and money wasted).
3) Never use Santander as your mortgage company, or if you do then make sure you do the mortgage application in person at a branch, not initially on the phone as I was hoodwinked into doing by Santander. What a useless company. Do as much as you can in person, things via email, phone, fax tend to go wrong, stuff gets lost .....
2014 pretty much the most stressful year ever, NIGHTMARE is an understatement.
seadragon said:
3) Never use Santander as your mortgage company, or if you do then make sure you do the mortgage application in person at a branch, not initially on the phone as I was hoodwinked into doing by Santander. What a useless company. Do as much as you can in person, things via email, phone, fax tend to go wrong, stuff gets lost .....for anything, ever, if you want a stress-free-as-possible life.
One of my rules in life is to avoid any business that feels the need to pre-emptively threaten customers with many, many notices in branch expressing their staffs entitlement not to have their hopeless incompetence articulated to them in the most often chosen format by exasperated users of the service.Edited by hairyben on Sunday 19th October 11:19
Update Friday 24 October
Time since started: 20 working days
Thought this was all going a tad too well!
Just had a call from our broker and it appears that the mortgage offer has now been withdrawn due to the fact that the house we're buying has a separate annex, which has a kitchen, so could be rented out. This is against their policy.
So, from them saying yes and emailing the agents to confirm this as well, a week later its changed to a no.
A bit miffed to say the least, especially after getting the survey which clealy stated the entire setup and now suddenly someone notices that its got a kitchen!
Oh well, onwards and upwards, the brokers after a new offer in principle from the other big names and we'll see what happens.
Time since started: 20 working days
Thought this was all going a tad too well!
Just had a call from our broker and it appears that the mortgage offer has now been withdrawn due to the fact that the house we're buying has a separate annex, which has a kitchen, so could be rented out. This is against their policy.
So, from them saying yes and emailing the agents to confirm this as well, a week later its changed to a no.
A bit miffed to say the least, especially after getting the survey which clealy stated the entire setup and now suddenly someone notices that its got a kitchen!
Oh well, onwards and upwards, the brokers after a new offer in principle from the other big names and we'll see what happens.
B3NNL said:
Update Friday 24 October
Time since started: 20 working days
Thought this was all going a tad too well!
Just had a call from our broker and it appears that the mortgage offer has now been withdrawn due to the fact that the house we're buying has a separate annex, which has a kitchen, so could be rented out. This is against their policy.
So, from them saying yes and emailing the agents to confirm this as well, a week later its changed to a no.
A bit miffed to say the least, especially after getting the survey which clealy stated the entire setup and now suddenly someone notices that its got a kitchen!
Oh well, onwards and upwards, the brokers after a new offer in principle from the other big names and we'll see what happens.
That's a kick in the gonads. Did the lender sent someone round to do a valuation survey? If so I'd have expected them to have spotted that. Time since started: 20 working days
Thought this was all going a tad too well!
Just had a call from our broker and it appears that the mortgage offer has now been withdrawn due to the fact that the house we're buying has a separate annex, which has a kitchen, so could be rented out. This is against their policy.
So, from them saying yes and emailing the agents to confirm this as well, a week later its changed to a no.
A bit miffed to say the least, especially after getting the survey which clealy stated the entire setup and now suddenly someone notices that its got a kitchen!
Oh well, onwards and upwards, the brokers after a new offer in principle from the other big names and we'll see what happens.
Or maybe they just did it online and called a couple of local agents for comparable prices?
From last year. I cannot underestimate how important a good broker is. In the end we could have moved in on the 3rd, but the extra week was no hassle.
We moved into a repo and rented the old house out.
26/11/13 1st view
28/11/13 both view
29/11/13 offer made/accepted.
01/12/13 complete all dox (ID/forms/statements etc).
02/12/13 send dox to mortgage broker by email
03/12/13 submit Halifax residential and Clydesdale btl applications. Post off ID.
04/12/13 Rental agency comes round to check expected rental
04/12/13 get and email rental letter to broker, confirming rental > 125% of BTL
04/12/13 get solicitors letter laying out timescale, email to broker to send to Clydesdale so they can prioritise the application. All conveyancing searches requested etc.
05/12/13 Solicitor's details swapped. Call from mortgage broker saying I should get EA to call Colley's to bring forward valuation. emailed EA.
06/12/13 EA gets valuation brought forward to 10/12/13
07/12/13 received letter from surveyors. Send back signed solicitor's pack, send back surveyors letter
10/12/13 hbs done (Colleys subbed it out)
11/12/13 halifax offered. Clydesdale application underway, valuation to be arranged
13/12/13 BTL Valuation scheduled for Monday 16th 9am (e-surv).I got a cancellation
14/12/13 Credit check appeared for 14/12/13 on Experian, searched by Clydesdale Bank, First Mortgage, full amount requested
16/12/13 Survey done. Hint from valuer that my estimate is correct
17/12/13 Mortgage approved by Clydesdale subject to value
18/12/13 Offer issued at survey value (not undervalued). Dox received from Optima Legal. Returned signed Halifax deeds to my solicitor. TR2 signed and returned
19/12/13 Clydesdale deeds and instructions sent back to Optima Legal
20/12/13 Offer sent by CB yesterday. Spoke to Optima and arranged completion date for equity release/BTL, spoke to piggy bank and turned the wife upside down to get the deposit together and exchanged today with completion on 10/1/14
02/01/14 Optima completed BTL Clydesdale mortgage, money in my bank
We moved into a repo and rented the old house out.
26/11/13 1st view
28/11/13 both view
29/11/13 offer made/accepted.
01/12/13 complete all dox (ID/forms/statements etc).
02/12/13 send dox to mortgage broker by email
03/12/13 submit Halifax residential and Clydesdale btl applications. Post off ID.
04/12/13 Rental agency comes round to check expected rental
04/12/13 get and email rental letter to broker, confirming rental > 125% of BTL
04/12/13 get solicitors letter laying out timescale, email to broker to send to Clydesdale so they can prioritise the application. All conveyancing searches requested etc.
05/12/13 Solicitor's details swapped. Call from mortgage broker saying I should get EA to call Colley's to bring forward valuation. emailed EA.
06/12/13 EA gets valuation brought forward to 10/12/13
07/12/13 received letter from surveyors. Send back signed solicitor's pack, send back surveyors letter
10/12/13 hbs done (Colleys subbed it out)
11/12/13 halifax offered. Clydesdale application underway, valuation to be arranged
13/12/13 BTL Valuation scheduled for Monday 16th 9am (e-surv).I got a cancellation
14/12/13 Credit check appeared for 14/12/13 on Experian, searched by Clydesdale Bank, First Mortgage, full amount requested
16/12/13 Survey done. Hint from valuer that my estimate is correct
17/12/13 Mortgage approved by Clydesdale subject to value
18/12/13 Offer issued at survey value (not undervalued). Dox received from Optima Legal. Returned signed Halifax deeds to my solicitor. TR2 signed and returned
19/12/13 Clydesdale deeds and instructions sent back to Optima Legal
20/12/13 Offer sent by CB yesterday. Spoke to Optima and arranged completion date for equity release/BTL, spoke to piggy bank and turned the wife upside down to get the deposit together and exchanged today with completion on 10/1/14
02/01/14 Optima completed BTL Clydesdale mortgage, money in my bank
Ours just completed today.
01/09/14 - Offer accepted
24/10/14 - Completed
That was fairly painless apart from some issues about Coal Authority searches and issues about rights of way, which all got resolved. Overall very pleased with how quickly and efficiently everything was done. Big shout out to Sarnie who has been a complete star throughout the whole thing. To anyone thinking of sorting the mortgage out yourself..don't, use Liam..
01/09/14 - Offer accepted
24/10/14 - Completed
That was fairly painless apart from some issues about Coal Authority searches and issues about rights of way, which all got resolved. Overall very pleased with how quickly and efficiently everything was done. Big shout out to Sarnie who has been a complete star throughout the whole thing. To anyone thinking of sorting the mortgage out yourself..don't, use Liam..
B3NNL said:
Update Friday 24 October
Time since started: 20 working days
Thought this was all going a tad too well!
Just had a call from our broker and it appears that the mortgage offer has now been withdrawn due to the fact that the house we're buying has a separate annex, which has a kitchen, so could be rented out. This is against their policy.
So, from them saying yes and emailing the agents to confirm this as well, a week later its changed to a no.
A bit miffed to say the least, especially after getting the survey which clealy stated the entire setup and now suddenly someone notices that its got a kitchen!
Oh well, onwards and upwards, the brokers after a new offer in principle from the other big names and we'll see what happens.
Annoying and it's not an uncommon policy with Lenders unfortunately. Surveyor should have brought this to their attention really. Obvious solution is vendors to remove the 2nd kitchen - they/you are going to have this issue again. They could even leave the cupboards in the garage..... Other solution which is time consuming and messy is to split the title, so that the annex is a different property.Time since started: 20 working days
Thought this was all going a tad too well!
Just had a call from our broker and it appears that the mortgage offer has now been withdrawn due to the fact that the house we're buying has a separate annex, which has a kitchen, so could be rented out. This is against their policy.
So, from them saying yes and emailing the agents to confirm this as well, a week later its changed to a no.
A bit miffed to say the least, especially after getting the survey which clealy stated the entire setup and now suddenly someone notices that its got a kitchen!
Oh well, onwards and upwards, the brokers after a new offer in principle from the other big names and we'll see what happens.
We did actually suggest this, but they just came back and said we would still be able to rent it out.
It appears we may have got ourselves sorted with a new mortgage in principle with Nationwide and on a lower interest rate too, so fingers crossed they don't change their minds half way through.
It appears we may have got ourselves sorted with a new mortgage in principle with Nationwide and on a lower interest rate too, so fingers crossed they don't change their minds half way through.
0000 said:
IM (limited) E chances are you won't complete.
Boom.EA called to say our vendor has decided after 18 months on the market and 13 weeks after accepting our offer that he doesn't want to sell.
£550 survey, £250 searches, plus whatever other charges the solicitor has for us and God knows what the mortgage broker will want this far down the line.
We've been trying to buy for years. It's getting silly now.
0000 said:
Boom.
EA called to say our vendor has decided after 18 months on the market and 13 weeks after accepting our offer that he doesn't want to sell.
£550 survey, £250 searches, plus whatever other charges the solicitor has for us and God knows what the mortgage broker will want this far down the line.
We've been trying to buy for years. It's getting silly now.
What a EA called to say our vendor has decided after 18 months on the market and 13 weeks after accepting our offer that he doesn't want to sell.
£550 survey, £250 searches, plus whatever other charges the solicitor has for us and God knows what the mortgage broker will want this far down the line.
We've been trying to buy for years. It's getting silly now.
of a vendor!My brother had a cash offer on his house, and, after many weeks of hassling the solicitors and agent, finally exchanged last Friday - completion's on 21/11.
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