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Do solicitors request funds before exchanging?
lm1981
Posts: 79 Forumite
If so what happens to the money if the sale falls through before contracts are signed?
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Comments
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Funds as in from the mortgage provider?0
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If exchange and completion is set for the same day then yes. The money will be returned and redrawn.0
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If the purchase doesn't happen (or is significantly delayed) then the loan funds go back to the lender.0
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Thank you.0
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Is the contract the same as the mortgage deeds? We signed the contract a while ago and have been due to exchange for a couple of weeks as we are supposed to complete on the 13th but we haven't signed the deeds yet with a witness, when does this happen?
Many thanks0
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