When does solicitor request the mortgage fund?

Apo

Hello,

As the title says, Does anyone know when my solicitor would request the mortgage fund from my bank HSBC ? On the day of completion or he needs to request in one week advance or something?

Thanks,

Apo

kingstreet

He will submit the certificate of title to the lender in advance of completion, basing the timing on that lender's usual requirement for turnaround time.

TBagpuss

Normally they will send a request ahead of time and ask for the money to be sent the day before

Apo

The completion date is in a week time on a Monday. Does my solicitor needs to request the money next Friday?

I am only asking this because my solicitor has not asked the remaining of the deposit and I dont want him to mess up the things... He has not brilliant so far.. We exchanged 5 weeks ago...

When would he need to contact HSBC ? one week advance or few days advance?

G_M

Is your concern

a) the mortgage transfer from HSBC to your solicitor or
b) the deposit transfer from you to your solicitor

If a), solicitors do this all the time. It's his job
If b), send him the money now ready for Completion

Or why not send the deposit together with a covering letter tactfully reminding the solicior that the remaining amount needs to be requested from HSBC

Apo

G_M wrote: »

Is your concern

a) the mortgage transfer from HSBC to your solicitor or
b) the deposit transfer from you to your solicitor

If a), solicitors do this all the time. It's his job
If b), send him the money now ready for Completion

Or why not send the deposit together with a covering letter tactfully reminding the solicior that the remaining amount needs to be requested from HSBC

My concern is that my solicitor might not do his job properly. Unfortunately I have had to force him to his job up to now. He delayed the house purchase 6 months with his stupid questions... Such as: What kind of door lock this flat has....

I want to make sure that he doesnt come back and say he doesnt have enough time to request the mortgage funds from HSBC...

wastedtalent

Usually they would send the request a few days before to receive it either the day before or on the day of completion.

It could all be done on the day of completion though, but this would be a bit last minute.

ambioni

Usually happens a couple of days before, to allow money to be transferred in time for completion. Likewise, it's a good idea to get your cash (deposit+fees+stamp duty) to the solicitor ahead of completion too. Nothing worse than finding a bank hitch (yes RBS I'm looking at you!!) that crops up and prevents completion on the day.