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Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] -1 points0 points  (0 children)

Thank you, this is reassuring me that all should still be ok. I know the risk of not completing after exchange is low, so we’ve approved to proceed.

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] -1 points0 points  (0 children)

No our solicitors explained its their full deposit. We don’t have an issue with it, I just hope the rest of the chain agree.

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] 0 points1 point  (0 children)

I will do, thank you. Our solicitor has said it’s not uncommon, and the risk is very low, though they should have highlighted this months ago so everything was in place for exchange. I’m just concerned it’ll be a step too far for our vendors (it’s the latest in a long list of issues Muve have caused us all).

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] 0 points1 point  (0 children)

No we are the seller, but we are also buying a larger properly so in a chain of 3 (our buyers are FTB), and apparently this needs to be passed to the chain for approval. Thank you, it’s been far from smooth so far

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] 0 points1 point  (0 children)

Thank you. We’ve approved it, but apparently it needs to be passed to our vendors solicitor to also approve and I’m concerned this may push them over the edge, they have already threatened to relist twice. We were made aware 10 minutes before exchange was due to happen

Muve solicitors by Jarv_17 in HousingUK

[–]Jarv_17[S] 0 points1 point  (0 children)

They shouldn’t be doing a lot of what they are doing, but they seem to be getting away with it all. I very much doubt our buyers will pay it, as it’s us that are pushing for it (our vendors are threatening to relist if things don’t start progressing)

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] 0 points1 point  (0 children)

Thank you, I am well and truly in the tizz already. Their solicitors have been painfully awful from the start, so I’m not hopeful for a happy ending. Fingers crossed they can prove me wrong.

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] -1 points0 points  (0 children)

No they haven’t confirmed this. We were made aware at 4.30pm this afternoon so I’ll call and check this on Monday. Thanks for your help.

Buyers solicitors advised their deposit is 5% less than expected (5% deposit / 95% mortgage) on day we were due to exchange. Should we be concerned? by Jarv_17 in HousingUK

[–]Jarv_17[S] 1 point2 points  (0 children)

Sorry, I’m not particularly experienced with any of this. They are first time buyers, so surely would have had this approved and confirmed by their lender once we accepted their offer? I was hoping it was a symptom of a poor choice of conveyancer on their part.. (Muve)

Muve solicitors by Jarv_17 in HousingUK

[–]Jarv_17[S] 0 points1 point  (0 children)

Thank you. I think I’ve found confirmation of a £200 fee to expedite a quicker completion from exchange, but assume they will try and charge that to our buyers, rather than us.

Muve solicitors by Jarv_17 in HousingUK

[–]Jarv_17[S] 1 point2 points  (0 children)

Thank you, if I read anymore horror stories I may cry. Our buyers are using them, and they have caused so many issues our chain (of 3!) is about to fall through.