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How long between exchange and completion?
papermoney
Posts: 583 Forumite
How quick can this be, when a mortgage lender is involved?
We are suppost to exchange on Monday - are we looking at the end of the week or the week after.?
We are suppost to exchange on Monday - are we looking at the end of the week or the week after.?
:rotfl:
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Comments
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We were told mtge lenders need around 5 to 7 working days between exchange and completion.
We exchanged on 8th dec 2006 and completed on 14th dec,which is also one of the busiest periods,so it can be done.
Good luck0 -
Several times we have exchanged and completed on the same day, it normally depends upon buyers and sellers to come up with an agreed timescale0
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We always seem to end for Friday exchange, following Friday completion, but exchange often ends up in the beginning part of the week and we still complete on Friday.
You can pull it off on the same day but it is not advisable at all as it leaves people open to gazundering. You can do it with a couple of days between but your solicitor might need a bit more notice to organise the funds.
Everything that is supposed to be in heaven is already here on earth.
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