Mortgage Funds released a day before completion

mane1034

Last week, my solicitor requested mortgage funds from Halifax.

She requested funds to be released a day before completion. I do remember she mentioned this is normal to request funds a day before completion to ensure everything is in order before completion.

The exchange and completion is set to happen on same day which is tomorrow.

I have been told by solicitor this afternoon that lender has transferred the funds. I also paid the deposit etc las week.

Just wondering how the process will work tomorrow?

Exchange of contract will happen first with 10% deposit and then release of remaining funds or both bits will happen together?

Should I expect keys end of tomorrow?

Thanks for all help

lee111s

If you're completing tomorrow then yes, you will have the keys tomororw as you'll own the property once he funds have arrived in the sellers solicitors account.

I'd imagine that the exchange and completion would happen in quick succession and that the solicitor would send all the monies in one transaction. I don't know for sure though!