Santander drawdown process

rav_

Got a quick question here, am in the process of buying a place and this is just about the only thing left to do, however santander say they need 5 working days to do this. Problem for me is that my lease in my current place expires before the 5 days, so I was just wondering if anybody knew if they get it done in less than 5 days and if there is any way to speed up the process, as I badly need this sorting fast!

Oh and I am paying the deposit by bank transfer if that helps.

Thanks guys

Rav

SmlSave

Some banks can do it quicker than 5 working days but you need to get their ok.

I take it you haven't exchanged yet with a fixed completion date?

rav_

Contracts will be signed tomorrow, dont think there is a fixed completion date yet but both of us can complete ASAP really.

Santander say its 5 days, know that I can push them to get it done (would happily pay a bit more for fast transfer or whatever its called), just wondered if anyone had managed to get that done fairly quickly

SmlSave

Its def possible but no guarantee can be given.

I'm pretty sure that Halifax is one of the few that really put their foot down about the 5 working days.

If you are 99% certain what the completion date will be you can request the mortgage monies now (the solicitor can send the Certificate of Title and get confirmation that the monies will be sent).
If you don't end up completing on that date you can cancel the funds but there may be a charge for doing so.