single parent, debt free apart from mortgage!
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Goal - by 2036 (14 yrs early) - in it for the long haul! paid £30 374.67 so far, 29.2% down, 70.8% to go!
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Mortgage Fund going back to lender...
laura_louise
Posts: 92 Forumite
I was meant to exchange and complete today (been trying to exchange all week but the other side are missing some papers). My Solicitor has had my funds from Coventry Building Society now for 48 hours and will have to send them back.
Does anyone have experience of this? Is it normal? Is it simple to re-issue the funds or is this going to delay a long time? Is it going to cost me a lot of money?
My Solicitor says that they are chasing the other side as much as they can and not to worry. But i am. Words of wisdom anyone?
Does anyone have experience of this? Is it normal? Is it simple to re-issue the funds or is this going to delay a long time? Is it going to cost me a lot of money?
My Solicitor says that they are chasing the other side as much as they can and not to worry. But i am. Words of wisdom anyone?
0
Comments
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It didn't happen to me (I completed as planned), but my solicitor told me it wouldn't be a problem to re-transfer the funds. They just give however many days notice, you pay the £30 fee if applicable, and away you go.
So the delay really depends on what are the missing papers, and how long it will take to find or replace them. But if your solicitor isn't worried, then you probably shouldn't be either.0 -
The other side are waiting for a mortgage redemption statement. I just want it all to be over, buying a house is turning out to be the most stressful thing I've done... I'm probably being silly but I expect someone to pull out, or the bs revoke my offer, at any time. I hate not being in control
single parent, debt free apart from mortgage!
Current balance: £73 525.33 (September 2023, down from £103,900)
Goal - by 2036 (14 yrs early) - in it for the long haul! paid £30 374.67 so far, 29.2% down, 70.8% to go!0 -
This is one of the risks of trying to exchange and complete on the same day. It can be done but it carries the risk of extra cost in sending the money to and fro and the solicitor's time doing it.
Much safer to go for a date 7-14 days after exchange.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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