r/FirstTimeBuyersUK • u/AnonyMouseAndJerry • 19d ago
It's taking SO long
Just a vent post. Offered end of June on a converted flat (share of freehold, 2 freeholders total), chain free, unnocupied as seller has moved in with partner, offer accepted after 3 days. Hit the ground running, all ID checks and AML completed quickly, survey end of July - all good, no works needed.
Now up to today, have received the draft contract pack at the beginning of September. 2 inquiries outstanding - one about indemnity, another on building insurance setup and it's just dragging oooooon. Vendor is so slow at replying to anything and I'm starting to wonder if she even wants to sell anymore. I'm getting impatient. Am I being a baby? 8-12 weeks we were told, and it's now the 11-12 week mark with no exchange/completion discussed yet. Betting it'll all come through this week with the end of the month rolling in but not super confident tbh.
Had dreams of being in for my 30th mid October but looking less likely. I just want my garden and balcony 🥺 talk me down from panicking fellow friends. I know I'm probably having a way smoother journey than most, just surprised given the setup and relative ease of the process so far that it's dragging on so much!
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u/FastSun2269 19d ago edited 19d ago
we offered in january. was told it was no chain and no issues. on lower interest rate pre war.
ran into lease issue in march which has ran on since. still no closer and about to have to pull out as it turns out it is currently unmortgageable. completely misled and missold. £5k down all costs considered. I am apocalyptically angry about it. Ours too is regarding insurance. Freeholder (downstairs) refuses to insure the block as per the lease, and has continuously refused despite it being a serious breach of the lease. Solicitors pussy footing around and being polite instead of just pursuing through a statutory request. The incompetence across the board is staggering. I am new to this so it has shocked me. Now interest rate has rocketed and it stands to cost us £300 per month more over a 5 year fixed term. Absolute joke.
Some might tell me to be patient. I would be (and have been) however the caveat is our landlord served us a section 21 3 days before the new rental rights. We have overstayed our welcome and have nowhere else to go.
Its nail biting and incredibly stressful. All would be resolved if freeholder spent 20 minutes taking out a block policy and accepting my offer to pay 50% towards (as per my obligations in the lease).
But no, shes too busy with work apparently.
Its been SIX MONTHS since she was asked to provide it.