Certificate of Title - time?

Sixforbracewell

The house moving process is really testing my sanity! :mad:

Could anyone tell me how long it typically takes to obtain Certificate of Title so the solictor can draw against the Mortgage for deposit etc?

This is holding up my purchase Exchange and has only just been requested - everything else is done.

Thanks

AlexSnow

The Certificate of Title is usually sent to your solicitor by your mortgage company when they issue the mortgage offer.

The solicitor returns the Certificate of Title to the mortgage company when the completion date is fixed (normally following exchange) and is (in addition to the solicitor confirming that the property is suitable security for your mortgage) the request made by the solicitor (on your behalf) to send the funds on that day. The CoT has to be sent to the lender a certain number of days before completion (normally 5 or 7 working days - varies depending on the lender) to guarantee the release of funds for completion.

I note that in your post you refer to the solicitor drawing against the mortgage for the deposit. This isn't normally possible as the mortgage funds are not available until completion. Maybe you are doing a remortgage on another property which is funding your deposit...more information needed OP.