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Help to buy - exchange to completion

lizzel
lizzel Posts: 37 Forumite
in Mortgages & endowments
I am using Help To Buy for a new build. The CML forms have been sent to the lender for approval a week ago. Tomorrow we have the meeting with solicitors to sign documents. Anyone know how long it takes to get Authority to Exchage? And then what's the shortest time between exchange and completion with Help to Buy?

Developers say the keys will be ready on December 20th. Could we turn the solicitors/Help to buy funding around in this time?

Comments

  • YHM
    YHM Posts: 650 Forumite
    Exchange and completion can happen on the same day, its not ideal, but it can be done.

    Lenders do generally slow down in slightly in the run-up to xmas with paperwork turn around, and solicitors will work however fast you pressure them to work
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
  • lizzel
    lizzel Posts: 37 Forumite
    YHM wrote: »
    Exchange and completion can happen on the same day, its not ideal, but it can be done.

    Lenders do generally slow down in slightly in the run-up to xmas with paperwork turn around, and solicitors will work however fast you pressure them to work

    Thanks for your response. Is that the case with Help To Buy. I assumed there would be time between exchange and completion because of waiting for the funding?
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