Help-Mortgage started early.

Ironick

Hello,
Mortgage with IF, they wrote to the house I was buying dated 11th April saying they had released funds and mortgage had started. I did not get this letter until the 25th (when we actually completed). As it stands I am about £200 out of pocket as they want to charge me interest from the 11th, when it should be the 25th.

This may have been caused by the fact I signed all my exchange documents around this time, but the vendors dragged it on, so completion was not until the 25th. Is this an oversight on IF's part, or is this just how things work? Where would the money have been between the 11th-25th, with my solicitors?

Thanks in advance

silvercar

The money should have been in the solicitor's client account. you should ask your solicitor for the interest on this money, in line with Law Society rules.

You may want to ask why the money was drawn down so early.

Ironick

Thanks for that, will get onto Solicitors.