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@stevo_com
Our purchase has dragged on for what seems like forever (offer accepted last July). So long that our mortgage offer expired, was extended then expired again. We held on to our offer on the place because we have yet to see anywhere near that size (4 bed) within that distance (between Beckenham & Catford) for the price (£205k). The vendors have wasted most of the time pitting unrealistic offers in on places after the first one fell through but have kept our initial offer to them live.
They have finally got an offer accepted on somewhere out in Edith so we have kicked back in to gear again.
The main thing I was worried about was having to apply for a mortgage from scratch. Even though we are in a better place financially than when we first applied and our solicitor has our deposit and all the fees paid from back when we first thought we were going to exchange in October, our spending of late hasn't exactly been frugal so I was concerned the new(ish) MMR regs might scupper us.
However, our IFA went back to the original lender with whom he had already discussed our position to get the first extension, and got us a brand new deal. 0.2% lower and fixed for a further year compared to the first mortgage offer. He did this within about 2 hours. I just said go, and he went!
It's still not a certainty by any means, our vendor's purchase could still go awry but it's progress nonetheless.
I had actually emailed an estate agent to arrange a viewing of another flat that is half the size and £30k more just this week. I really hope we get the first one.
It will need a bit of work but fuck me, 4 bedrooms.