Very Quick Question

r83_2

Hi ya,

I have had some very assuring and great advice from fellow members here. I probably need one last, until we put this to bed on Monday. We have the mortgage offer and are going to complete on Monday 31st (Exchange and Completion simultaneously)

We were given services to check Conveyance Progress online. This morning, it showed - "Mortgage Advance Received". I questioned my Conveyancer to confirm it and have got the below reply -

"Mortgage monies are drawn down the day before a scheduled completion. Initial interest is charged by the lender from the day the funds are released. We are now holding mortgage monies and subject to receiving the balance from yourself we anticipate a simultaneous exchange and completion on Monday 31st"

Does this mean - That Conveyancer have got the money and bank can not make U-Turn on the offer now? I am bit concerned over mortgage pull at the last minute and hence opted to go for Exchange and completion on same day.

If someone could confirm, I can have even better weekend and can pay the conveyancer what I owe and what I need to pay in order to complete (conveyance fee and flooring in the new build etc)

Thanks,
R

kingstreet

I would say it's a done deal. I can't imagine any circumstances in which the money could be called back. Have fun getting your keys!

r83_2

One person I expected to respond, and I was correct!!! Thank you very much. Just paid off all outstandings and can't wait until Monday Morning.

Thank you

kingstreet wrote: »

I would say it's a done deal. I can't imagine any circumstances in which the money could be called back. Have fun getting your keys!