Game on! My buyer has instructed his solicitor – hoorah.
The fact that the selling agent then got my solicitors’ details wrong and sent the Memorandum of Sale to the wrong place is purely semantics.
So there is just one small hurdle to go. The direct debit mandate. And therefore, the dreaded bank account.
Now I absolutely appreciate that if you approach something with a negative mind-set, it’s pretty much destined to fail.
Applying for a business bank account online with NatWest
And guess what…?
I diligently filled in the bank account application form online. I was asked all sorts of questions to which I didn’t know the answer and thus, *may* have guessed.
I also tried to go back a page and wiped the whole application. Not once but four times. You just can’t teach an old dog new tricks. Needless to say by the time I got to the end of this banking equivalent of waterboarding, I was feeling super pleased with myself.
I hit the ‘submit’ button with a flourish and got a lovely message telling me thanks for the application, we will be in touch.
What customer service?
NO timeframe, NO mention of how they will be in touch (phone, email, carrier pigeon perhaps?) and NO real understanding of what on earth I do now.
I wasn’t even given a reference number or acknowledgement email. So that’s nice.
What really adds to the enjoyment of this is that I am on holiday next week so there is the square root of sod all that I can do until Christmas week.
Consider yourselves told
Aside from this I am feeling pretty on top of things.
My mortgage application is well under way, my survey should get booked in next week at some time, although whether the surveyor will get out before Christmas is doubtful – they are so busy at the moment.
I would throw out at this point that for those of you looking to do the same as me (i.e. sneak in a purchase before 1st April) you do need to keep in mind that the banks, surveyors and solicitors are going to get busy in the April run up, and so to leave things until the last minute could be your downfall.
And believe me, if you leave it until the last minute, you won’t get special treatment and bumped up the queue because everyone else is going to be in the same boat. Consider yourselves told!
I have my wonderful solicitor on the case. Crikey, he may even receive a Memorandum of Sale at some point and be able to start a file. Racy. And the bank account is somewhere in the ether at NatWest.
Overall, I am feeling very organised. Time for a holiday!
Diary of a Buy to Let Purchase
2.12.2015 Part 1 It was that or a Range Rover
7.12.2015 Part 3 The demise of Nathaniel Pig
8.12.2015 Part 4 Call off the dogs...
21.12.2015 Part 7 - Reality bites...
29.12.2015 Part 8 - The method behind the madness
12.01.2016 Part 9 - Join me in a buy to let fist pump?
25.01.2016 Part 10 - The silence is deafening
16.02.2016 Part 11 - Throwing toys out of prams
23.02.2016 Part 12 - Stuck with the Mini... for now
3.03.2016 Part 13 - Time is running out
14.03.2016 Part 14 - The end of my sad little tale...
30.03.2016 Part 15 - Just call me Peggy
07.09.2017 Part 18 - Always open the envelope
You might also be interested in:
27.07.2015 Buy to let - from personal to limited company ownership
Prior to now, when asked by clients whether buy to let properties should be bought in their own names or whether they should use a limited company we have always said “it all depends”. Well the Summer Budget 2015 has altered everything and whilst the answer is still “it all depends”, the balance has shifted markedly in favour of limited companies.
9.12.2015 Borrowing through a newly set up Limited Company
Jeni answers one of the questions we are asked regularly at the moment – Can I borrow through a newly set up limited company?
11.11.2015 Setting up an SPV Limited Company
Buy to let lenders which offer mortgages to limited companies usually require the limited company to be an SPV (Special Purpose Vehicle). Jeni explains what one is and how to get one.
26.11.2015 February will be too late
What does the 3% stamp duty surcharge mean for landlords looking to finance buy to let property? Steve Olejnik gives his opinion and shines some light on possible routes forward.
26.11.2015 George hits buy to lets with 3% stamp duty surcharge
David Whittaker, MD at Mortgages for Business looks at the effects of the 3% stamp duty surcharge on buy to let properties and the restrictions of mortgage interest relief on landlords' portfolios. In essence his advice is to act now and not to wait until the new year.