Proving source of funds question

ricebowl_downhill

Hello,

Hoping someone may be able to help put my mind at rest with the following situation.

I bought a house with a friend 2 years ago and he is now buying out my share as I'm purchasing my own place. The amount has been agreed at £10K and as instructed (quite rightly) by my mortgage advisor it was to come through my friends solicitor to show proof of where it came from and what it was for. I have the documentation to prove this and it was all provided to the mortgage company, they are happy and have now approved my mortgage.

My purchase is going through quite quickly and it's now with the conveyancers for searches etc. However there has been a delay with my friends solicitor just through an admin error rather than anything suspect and I'm now a bit worried I won't get the money in time.

He has offered to pay me directly by bank transfer rather than through the solicitors - as my mortgage has been approved would this cause any problems at this stage? I would still have the letter saying what the money was for in case it gets questioned.

Any advice much appreciated, for the record I'm not worried about not getting the money as it's all amicably agreed and above board.

Many thanks.

Cornucopia

There is no "not in time", unless there is a time limit you haven't mentioned.

The transaction will wait until the funds are in place.

I would stick with the Solicitors unless that becomes completely impossible.

ricebowl_downhill

Thanks for the reply, there is no deadline as there's no chain involved I just don't want to be holding things up.