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AskAsk
Posts: 3,048 Forumite
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Comments
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In general it should be a formality, but solicitors at the moment seem to be paranoid about banks changing their minds or otherwise causing a delay.0
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I suspect something has been lost in translation - it's normally a 5 working day service level between requesting and receiving the funds, not for answering this sort of question.0
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At the start of June when things were still very much up in the air we had our funds from Barclays released within 3 business hours. There is a standard SLA of 5 days but it is rarely required. It certainly shouldn't be required just to get a decision on release.1
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Releasing the money could take up to 5 working days.AskAsk said:
i asked our solicitor why we can't exchange last week and she said that the other side is waiting for the bank to agree to release the money, which could take up to 5 working days. we are now 3 working days in and still nothing. should we start to worry that the buyer hasn't actually got the mortgage agreed?davidmcn said:I suspect something has been lost in translation - it's normally a 5 working day service level between requesting and receiving the funds, not for answering this sort of question.
are people finding that the bank is slow in covid 19 in agreeing to release completion money?
They'll have a mortgage offer, I don't see any reason to worry about them lying about that.
In general, call centres etc have fewer staff than usual so everything is taking longer.1
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