Arghhh, please help :(

empy

Hi all,

So here is my sorry tale, My DH and I are in the process of purchasing a chain free house and all has been well thus far, Until today that is! We were told by our solicitor last Thursday following a meeting to sign the contracts that we would be looking to exchange/complete this Friday, so I booked the time off work etc and lo and behold my DH phoned today and was informed by the solicitor that our vendors have not even signed the contract and will be doing it tomorrow!!! Naturally my DH was a little miffed at this and queried why we had not been informed soon regarding this so we could alter plans, to be palmed off that our solicitor had been trying to contact the other parties etc.

Anyhoo apparently our vendor is definitely signing the contracts tomorrow and I believe exchanging.... Now the issue is drawing down the mortgage money (with Natwest) Is there a way we can get this in 24hrs? We are even willing to pay if necessary!

Many thanks in advance.

empy

Thrugelmir

24 hours? Highly unlikely.

As may well be some final checks and balances to be undertaken.

ethank

Most lenders want at least 48 hours notice to drawdown funds.

loubel

If the plan was to simultaneously exchange and complete tomorrow then surely your solicitor has already requested draw down of your mortgage funds?

Was there a reason why you were aiming for simultaneous exchange and completion? The problem with doing this is that everything can fall apart at the last minute as you haven't yet entered into a binding contract.

ACG

With a large lender like natwest unlikely.

I had something similar happen to me and thankfully because of my job and i was using a small building society i was able to call in a favour to get it released the same day (albeit the last one of the day).

I dont think you will be able to get natwest to agree it as theyre too big and have their rules in place - they probably get hundreds of people a month wanting to do something similar.

Dave_the_Ginger_Cat

You may get reassurance or stories of doom here, but the only way to tell is to ask the people involved in your process for the answers which are relevant to you

Hope it turns out well for you

empy

Thank you all for your input, our solicitor has been in contact with Natwest HO today and the funds will be available tomorrow, all we need is the signature of the partner of the seller to say he will make no claim on the property and will not squat (or something like that!) and then we will be good to go hopefully we will have the keys tomorrow afternoon at the latest and have rearranged everything for Saturday regards moving! Thankfully I have a PD day off work on Monday to unpack and get settled in before returning to work!

empy