House Completion Help!

wilkowilko

My advice would be to ring the mortgage company and try and appeal to someone's better nature to try and get the offer pushed through. We were in a similar position, trying to exchange and complete before we went on holiday.

My conveyancer advised ringing the mortgage company and telling a small white lie to say the chain was in danger of collapsing due to the lack of mortgage offer. Thankfully I spoke to an extremely helpful person who managed to push it all through and I got my offer through within two days.

Might be worth a begging phonecall?!

jbainbridge

Agree ... phone your lender and talk nicely to them.

Hoploz

Check with your solicitor whether you have exchanged contracts or not ... And if yes then you'd better get praying and phone the lender

Skinnymum24

Yes indeed, we exchanged contracts and paid the deposit before we had a mortgage because it was a 6 month completion.
We figured that during 6 months, and with quite a few mortgage options available, we were sure it would be plenty time.
Due to the time it took to get all our affairs in order, and due to the lender asking for more documents all the time, we are running out of time! Can't breathe. ....

How long should it take once they make an offer until we have the money??

Rambosmum

Skinnymum24 wrote: »

Yes indeed, we exchanged contracts and paid the deposit before we had a mortgage because it was a 6 month completion.
We figured that during 6 months, and with quite a few mortgage options available, we were sure it would be plenty time.
Due to the time it took to get all our affairs in order, and due to the lender asking for more documents all the time, we are running out of time! Can't breathe. ....

How long should it take once they make an offer until we have the money??

Once your solicitor has a copy of the offer they can immediately request to draw down funds. This usually takes 24 hours from request, occasionally 48 depending on lender, and obviously doesn't happen on a weekend. So they need to request it before 3pm on a Friday.


Have you spoken to the lender?

Skinnymum24

Our broker is in touch with the lender and doing what he can. ....
All is left to do is pray.....

davidmcn

Skinnymum24 wrote: »

How long should it take once they make an offer until we have the money??

I've completed on the same day as receiving the offer. I wouldn't recommend it as a plan though...

Cheeky_Monkey

Skinnymum24 wrote: »

Yes indeed, we exchanged contracts and paid the deposit before we had a mortgage because it was a 6 month completion.
We figured that during 6 months, and with quite a few mortgage options available, we were sure it would be plenty time.
Due to the time it took to get all our affairs in order, and due to the lender asking for more documents all the time, we are running out of time! Can't breathe. ....

How long should it take once they make an offer until we have the money??

You probably should've mentioned that in your opening post :doh:

ThePants999

Hopefully a lesson to others who read this. Never exchange a contract that has a penalty you can't afford to pay if there's any uncertainty over whether you'll be able to complete on it.

ANGLICANPAT

How long does a bridging loan take to set up ? Is there a possibility that when it gets near to the wire, as a last resort they could do this to avoid the not being able to complete scenario? Expensive , but probably less so than being sued?