Will my solicitor let me know when the mortgage lender has released the funds?

*Kat*

I am getting the keys to my new house tomorrow. I received a text from Nationwide that they have received a request from my solicitor to release the funds today.

Will my solicitor let me know when that's through? What can go wrong now?

I'm in total panic mode

El_Torro

Panicking about what?

The solicitor should tell you. The estate agent shouldn't give you the keys until the funds are released either.

I don't think much if anything can go wrong now. I imagine you've already exchanged so you're legally obliged to buy the place and the seller is legally obliged to sell it to you. No backing out for either of you.

HouseBuyer77

They probably won't let you know they have the funds but it's clear they've requested them and they do this all the time so know the appropriate timescales etc.

So don't worry, look forward to enjoying the first night in your new home tomorrow!

*Kat*

Thanks! I wish I wasn't such a worrier. I've read about horror stories where the mortgage lender has pulled out at the last minute, etc. I'm worrying about nothing!

AdrianC

*Kat* wrote: »

What can go wrong now?

Oh, dozens of things... The removals van could catch fire, you might walk in the door to find the vendor dead in the living room, squatters could beat you to it...

But they'll probably not happen. Probably. <evil grin>

You'll be fine! Stop panicking! Just think about how many people move house every single day of the week, and how few actually have a problem...

densol_2

I'm a dreadful worrier ! I suffer from severe anxiety so I feel your pain. I could think up hundreds of elaborate scenarios of things that can go wrong, then research them all, then fret, panic and worry about them ..... But in reality most sales go through the system without any problem at all. Tomorrow - crack out a nice chilled glass of wine in your new home , enjoy and then breath

jolester

I've just had a conversation with my solicitor who have said the mortgage co have just faxed them (yes, I know, faxed!) with confirmation they are releasing the funds in time for our expected completion date. Only thing is our vendors solicitors aren't very forthcoming with confirming exchange date or sorting things with their mortgage co

Lobell

I went through this process just last week with Nationwide.

Signed contracts 5pm Wednesday. Text from Nationwide at 10.36 am on Thursday confirming request from solicitor. Notified by our solicitor at 12.50pm on Friday that funds had been received.

All went like clockwork...and we were selling and buying on the same day so much more capacity to go pear shaped!

Try not to fret...it will be fine.

Rizla300

Fax!? Seriously!? Had they run out of carrier pidgeons!? :rotfl:

Lu_Lu

*Kat* wrote: »

Thanks! I wish I wasn't such a worrier. I've read about horror stories where the mortgage lender has pulled out at the last minute, etc. I'm worrying about nothing!

densol wrote: »

I'm a dreadful worrier ! I suffer from severe anxiety so I feel your pain. I could think up hundreds of elaborate scenarios of things that can go wrong, then research them all, then fret, panic and worry about them ..... But in reality most sales go through the system without any problem at all. Tomorrow - crack out a nice chilled glass of wine in your new home , enjoy and then breath

this is totally me too!

We are completing on our purchase tomorrow and I've asked the solicitor to send funds first thing in the morning. She said she requests them the day before (ie today) but no confirmation yet this has happened. I have just been asked for my home insurance details so hope all is well but I am so worried anyway!

princeofpounds

It's totally normal that the request goes in at a moment that seems close to the deadline, and it is essentially just a matter of administrative procedure to get them released if nothing has changed. It's really not something to worry about.


If you like, the request is not 'please give me mortgage funds', it is more 'please give me the mortgage funds you have already agreed to give me'.