Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Pulled out of a bidding war several weeks ago for 4 bed in beaumont at that stage it was 73,000 over asking . Got call from EA now to say that sake is not going ahead and if I am still interested . There were3 bidders on the house at that stage . I’m the meantime I’m bidding on another house 37 thorndale , older houses but bigger and north facing .

would I be better letting 4 bed in beaumont go back to market . I do think things have slowed last few weeks

Thanks Woody22, it is reassuring to hear this is a general issue with PTSB atm.

Yes both the solicitor and the broker have been really helpful in pushing at every stage. And we are keeping the EA in the loop also, who has spoken to the vendor. Just seems as if PTSB are painstakingly slow with their broker mortgages anyway. Plenty of promises on their website of a fast turnaround etc., something about 72 hours?’ That makes me laugh, our AIP took nearly 6 weeks both times.

We have actually paid the 10% deposit and signed contracts with an Opt out clause subject to full approval letter by the 17th. We did this with advice and help from our solicitor to put the vendor at ease.

We love the house, there are not many like it and while we did pay well over asking in the end, I think it would be easy for the vendor to find another buyer. Just hope PTSB start to move a bit quicker.

This may be a stupid question. But is the attic included in the calculation of sqm?

example: a lot of new 3-bed semis are 115sqm. I’m looking into one that’s the same, but includes a converted attic into the master bedroom. Im worried if other houses are 115sqm with only 2 floors counted, this will make a 2,5 floor house really narrow.

Am I looking at that wrong?

That answers my question as to whether it was just a delay with the broker/intermediary portion of their mortgage business. From my experience they are taking 10 working days for everything and resetting the clock everytime there is a new request. Would imagine by that logic, you will have your letter of offer issued by Monday 9th (taking into account the bank holiday). And we would receive same by the 11th. Fingers crossed.

Then the fun starts all over again with drawdown.

I'd say you are right with your ten day turnaround. They came back to me this afternoon with some daft questions based on the valuers report, I think I've got them answered but will see....

I’m signing contracts for a 2nd hand property in a weeks time. Don’t have a closing date yet (not sure if it will be quick or if there will be more delays with the vendor trying to line it up with their buying). I have quotes and filled out applications for mortgage protection and home insurance and was advised to pass docs onto bank to speed up process but without a closing date I don’t see how I can get final docs to send. When do people normally pass these onto the bank or is there an understanding that you can pick a potential activation date for the policies and give that to the bank but update it if necessary? Just concerned as bank’s seem to have lots of delays and want to get ahead of this if possible

when i was doing this i knew i was close to finishing the deal so i just started the house insurance then and there, did the same with the mortgage protection, so basically started both about a month before closing, not sure if that is the way to do it but i just wanted it boxed off, didnt mind starting a bit early, was no issue with the banks.

i actually never got a formal close date, solicitor just kept saying we'll sort that when everything is boxed off, i wasnt 100% sure when i was moving in until the estate agent contacted me on the day.

Thanks all, I’ll get that stuff sorted so.

We are trying to sell our house at the moment and it is definitely not going as planned. At least 3 similar properties have sold recently in the area and have gone for well over asking. We have had plenty of viewings and interest but not one offer to date. The EA has mentioned numerous interested viewers and some of those have left saying they are definitely making an offer then nothing comes of it. Very disheartening and we are not sure what to do now. Looks like we may be stuck here

Transferred our final balance to our solicitors, and should hit their account Thursday. Down to the banks now! Anyone know roughly how long this final part is taking? Waiting to hear back from our solicitor but dying to know when we can get our keys!

Wouldn't be so sure of that :) There are still checks between loan offer and actual draw down.

I am looking to buy at the moment having held off earlier in the year when everything was going way over asking. I may be in a similar boat to the "interested viewers" your agent is talking about!

Had my first viewing the other day after a few months break and the house was perfectly nice, nothing spectacular but nice area and not in need of any major renovation other than a bit of updating the decor, and there was one offer at asking after a month on the market which is a change from earlier in the year.

Debating now making a bid and capitalising on what might he a summer lull or waiting it out and seeing how the end of the year plays out - the asking is still 20/30k over what it might have gone for towards the end of last year.

Got the keys today after a long wait from the bank. Once funds were released it was very smooth, they hit our solicitor's account yesterday afternoon having been transferred that morning.

And now to move all our stuff again!

Best of luck to anyone still in the process.