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Question re completing, exchanging and a 100% mortgage?
pinkprincess22_2
Posts: 3 Newbie
We are due to complete next Friday but haven't exchanged yet. Does this happen on the same day when you are having a 100% mortgage?
We've had nothing mentioned to us about doing them seperately and after reading a few posts I'm slightly concerned. Should we have exchanged or will it happen on the same day for us?
Any help would be fantastic!
We've had nothing mentioned to us about doing them seperately and after reading a few posts I'm slightly concerned. Should we have exchanged or will it happen on the same day for us?
Any help would be fantastic!
0
Comments
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you should know if you are exchanging & completing on the same day, there will have been discussions with your solicitor. I take it these havnet happened.
Im in the same boat as you ( kinda) we are meant to be completing tomorrow, but as we havnet exchanged- were not. I have no idea when the exchange is going to happen, and thus no idea of the completion date at this stage.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Unless you or your solicitor have talked to the mortgage company about drawing down money for a deposit, you will be exchanging and completing on the same day.
Sellers won't accept exchange without a handover of cash - this is the point where people usually pay their deposit.
Phone your solicitor and ask what's happening - I had a letter from mine saying E&C on same day is standard for a 100% mortgage (which I had), and my vendor was happy with that, then it had a form attached for me to fill in, giving my preferred dates, any dates I couldn't do, etc etc. She then agreed the date with the other party's solicitor. If you've been through a similar process to agree the completion date, your solicitor may have assumed you knew it would be same day...0
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