Completion Date Discrepancy

AnotherJoe

houman1979 wrote: »

Thank you. So I see that it is a common practice but it could be abused by some lenders to charge more and so I cannot do anything in this regard?
Honestly, I assume that lender should charge from the completion date and the fact that they release the funds couple of days earlier to do their job properly should not affect me.

Or there may be a problem at the receiving end, nothing to do with the sender, and getting the money a day or two early gives everyone time to rectify problems. The few pounds you are moaning about here pale into insignificance if the move doesn't go ahead and people need to stay in hotels, rearrange movers, put stuff into storage etc.



You are making a hurricane in an egg cup.

houman1979

dunstonh wrote: »

It is not for you to decide if a term can be abused by a lender or not. It is the FOS and FCA that decide that along with the courts.

As it happens, it cant be abused as its the solicitor that requests the money. The solicitor acts for you. So, by default, you requested the money early.



The minute the money leaves the bank, they are lending it and you are subject to interest charged. The added days are a safety mechanism to prevent you finding yourself without a home if you had left it to the very day and payment failed on the day of the house move.

Which would you prefer?

Thank you for your reply but i did not instruct any solicitor and they acted on the lender's behalf.

houman1979

AnotherJoe wrote: »

Or there may be a problem at the receiving end, nothing to do with the sender, and getting the money a day or two early gives everyone time to rectify problems. The few pounds you are moaning about here pale into insignificance if the move doesn't go ahead and people need to stay in hotels, rearrange movers, put stuff into storage etc.



You are making a hurricane in an egg cup.

It is a remortgage so none of those disasters you mentioned would not happen