New build mortgage nationwide

Cupcake85

Hello,

I'm buying a new build, the final inspection from the NHBC is next Wednesday, the developer said once he has the certificate we can be issued the notice to complete and that it could be either late that day or next... He suggested I ask my solicitor to request the funds in readiness.

I spoke to the solicitor and she advised they cannot get the funds until the certificate has been received, but can she not request for the funds but they not be released until they have the certificate?

If not the wait is 5 working days for the mortgage can you pay extra and have a quicker transfer?

Slightly confused as the developer said one thing and solicitor the other!

Thrugelmir

Solicitor works for the lender. Lender sets the requirements and therefore the timescale.

Cupcake85

Submission of COT in good time for completion
The Society requires at least five working days' notice of the completion/settlement date to enable payment via BACS. Where a CHAPS transfer is specifically requested, 48 hours notice is required to guarantee payment on time and a fee of £20 is payable. Where a mortgage offer includes a special condition relating to CHAPS transfers the fee will be deducted from the loan, if there is no special condition on the offer then the fee payable must be sent by cheque. Where a faxed COT has been sent do not send the original.

This was taken from the nationwide site, is anyone able to have the payment via chaps if your happy to pay?