Mortgage house valution surveys

[filthy1980]

i know i might get stung for my naivity here, but i've only just realised that the property i'm buying could cost an additional £10k in Stamp duty if i don't complete before 31st March.

Mortgage offer is still pending from the underwriters, been with them since last week, following valuation.

Neither my borker or solicitor has ever mentioned the impact of not completing before April 1st, which i'm pretty pee'd off about.

sent the mortgage broker an email last night and she wrote back advising "it should be any day and they are aware of the situation" (would have been nice if they told me)

Now we're not in a chain and i don't think our vendors are (at least they weren't on the initial house they were trying to purchase but pulled out of that one and have found somewhere else) woudl it be reasonable to go from mortgage offer to exchange to completeion within 2 weeks?

If there is a chain ahead of them as a mitigation could i insist that we complete before the 31st March and if they are unable to move out could i write up a short term tenancy agreement until their (possible) chain clears?

Would this be a logical / reasonable option?

[ChimpMaster]

i know i might get stung for my naivity here, but i've only just realised that the property i'm buying could cost an additional £10k in Stamp duty if i don't complete before 31st March.

Mortgage offer is still pending from the underwriters, been with them since last week, following valuation.

Neither my borker or solicitor has ever mentioned the impact of not completing before April 1st, which i'm pretty pee'd off about.

sent the mortgage broker an email last night and she wrote back advising "it should be any day and they are aware of the situation" (would have been nice if they told me)

Now we're not in a chain and i don't think our vendors are (at least they weren't on the initial house they were trying to purchase but pulled out of that one and have found somewhere else) woudl it be reasonable to go from mortgage offer to exchange to completeion within 2 weeks?

If there is a chain ahead of them as a mitigation could i insist that we complete before the 31st March and if they are unable to move out could i write up a short term tenancy agreement until their (possible) chain clears?

Would this be a logical / reasonable option?

Assuming no issues with the survey, the lender should offer quickly but get your broker to chase. I have an awesome broker and I hope yours is the same too.

However, the main cause of delay is with solicitors - on both sides - so you need to speak (phone) with your one and let them know the deal. You need to then tell them to contact the seller's solicitor and let them know the deal too.

You still have 3 weeks, so hopefully it'll be OK. Exchange and completion can be done on the same day if the solicitors agree.

I'm selling a property and hoping to complete before April and the buyer is still awaiting a damp survey before the lender will offer.

SART (sell and rent back) is not allowed so be careful with this unless you unofficially let the vendor live there, not that I would do that.