Mortgage funds being released tomorrow

shannonb1

we have FINALLY got word that our mortgage funds are being released tomorrow for our house completion on Friday. Is the money into the solicitors account immediately tomorrow or does there be a delay?

thanks 

MovingForwards

Could be a couple of hours before it reaches the solicitors. You pay for same day transfer from your lender to your solicitor.

shannonb1

MovingForwards said:

Could be a couple of hours before it reaches the solicitors. You pay for same day transfer from your lender to your solicitor.

And from transfer them to the contractors solicitor is that a same day job as well?

MovingForwards

shannonb1 said:

MovingForwards said:

Could be a couple of hours before it reaches the solicitors. You pay for same day transfer from your lender to your solicitor.

And from transfer them to the contractors solicitor is that a same day job as well?

Exchange of contracts and deposit is sent the same day.
Completion day, funds are sent the same day.
Exchange and complete at the same time, funds are sent the same day.

In all instances, money should be received the same day, but occasionally (very rarely) there's a blip and the money isn't received until the next day. Funds have to be sent by a certain time for it to reach the destination account, if sent after that cut-off time, it's not guaranteed until the next day.

Solicitors accounts departments have been doing this for years, you will be in safe hands.