Exchange of contracts

Options
Matt_L
Matt_L Posts: 1,459 Forumite
First Anniversary Name Dropper First Post Photogenic
in Mortgages & endowments
Just a quick question on exchanging contracts.

We've had our mortgage offer, been accepted with H2B EL (solicitor just waiting on Authority to exchange from H2B)

However the developer only estimates that the house will be ready to move into on the 18th of August so my question is, can the exchange of contract still take place now or next week without a confirmed moving in date??

Thanks..
"I want to die peacefully in my sleep like my grandfather, not screaming in terror like his passengers."

Comments

  • alex_163163
    alex_163163 Posts: 310 Forumite
    First Anniversary First Post
    Options
    You will exchange, with completion 'on notice' I believe. It is common practice on new builds.
    Once the property is ready, the developer will give your solicitor 10 days notice (I think) of completion..
  • Matt_L
    Matt_L Posts: 1,459 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Options
    Thank you alex..
    "I want to die peacefully in my sleep like my grandfather, not screaming in terror like his passengers."
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.7K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.8K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards