Exchange Tuesday and Completion friday - Possible ?

Aqua26

So we have been in a very slow property chain of 6 houses for last 5 months and after dealing with massive delays finally my buyers are waiting for their amended mortgage offer ( yes he got his name wrong on mortgage offer which was issued back in Oct 2019 and only spotted at time of exchange about 2 weeks back.. ) .. Now we have deadline to MUST complete by 6th March Friday .. will it be possible if Barclays issue offer on tuesday for my buyers and they can release funds by Friday 6th March or they will need solid 5 days notice ? Solicitors think its a doable things however I have lost allt the faith in solicitors for last 6 months !!! Please advise if you know any of similar case ??? Thanks in  advance.

Jeams073

YES, it is possible. 

[Deleted User]

Its possible but I expect you would be looking at a simultaneous exchange/completion.   If there is a spelling mistake then the mortgage need may need to be signed again. Also I think Barclays post offers to solicitors unless they are pre registered for secure mail.  And although barclays release funds on the same day as the request if escalated, they will state they need 5 days notice to avoid being blamed for a delay. 

What usually happens is that everyone works to a completion date of Friday and requests the money to come in from their lenders on Thursday.  If all the money if in then they can exchange, if its not then they hope its there on Friday.  

Personally I wouldn't be expecting to move on Friday if there is still a mortgage offer outstanding

Tight_Git

Deleted_User said:

If there is a spelling mistake then the mortgage need may need to be signed again.

Priceless!

Aqua26

Deleted_User said:

Its possible but I expect you would be looking at a simultaneous exchange/completion.   If there is a spelling mistake then the mortgage need may need to be signed again. Also I think Barclays post offers to solicitors unless they are pre registered for secure mail.  And although barclays release funds on the same day as the request if escalated, they will state they need 5 days notice to avoid being blamed for a delay. 

What usually happens is that everyone works to a completion date of Friday and requests the money to come in from their lenders on Thursday.  If all the money if in then they can exchange, if its not then they hope its there on Friday.  

Personally I wouldn't be expecting to move on Friday if there is still a mortgage offer outstanding

thanks - buyers solicitors are saying they are awaiting for barclays to confirm if they can release funds for friday so that we all complete on friday .. !!also Barclays is saying they are faxing mortgage offer by 3pm today .. not sure if they do this or usually they have to send it post.. 
my buyers solicitor is firm a big well known firm in market so hopefully they have all the secured DX delivery addresses etc in place

[Deleted User]

Tight_Git said:

Deleted_User said:

If there is a spelling mistake then the mortgage need may need to be signed again.

Priceless!

totally on purpose :-)

Aqua26

Deleted_User said:

Tight_Git said:

Deleted_User said:

If there is a spelling mistake then the mortgage need may need to be signed again.

Priceless!

totally on purpose :-)

yes they have signed again and sent back to Barclays

Aqua26

solicitors just written to Barclays to obtain confirmation if they can have funds ready for completion on friday the 6th March -- not we all waiting for barclays to confirm so that we can exchange !!!!