Exchange of contract

sambaj

Hi guys we are suppose to exchange contract tomorrow but banks hasn’t confirmed yet, my solicitor said she will not exchange contract unless bank confirms, our completion date is on 7th of December,  can anyone advise how soon bank will confirm so we can exchange, and how many days it will take for them to transfer funds, 

Thrugelmir

Sounds as if you are almost there. There's no need to concern yourself. 

sambaj

Thrugelmir said:

Sounds as if you are almost there. There's no need to concern yourself. 

But do you know how long will bank take to confirm 

K_S

sambaj said:

Hi guys we are suppose to exchange contract tomorrow but banks hasn’t confirmed yet, my solicitor said she will not exchange contract unless bank confirms, our completion date is on 7th of December,  can anyone advise how soon bank will confirm so we can exchange, and how many days it will take for them to transfer funds, 

@sambaj If completion is scheduled for Monday, Halifax should transfer the funds on Thursday or Friday, which is when you start being charged interest. For my own personal mortgage back in July, Halifax transferred the funds the day prior to completion. Hope that helps assuage your concerns a bit.

sambaj

K_S said:

sambaj said:

Hi guys we are suppose to exchange contract tomorrow but banks hasn’t confirmed yet, my solicitor said she will not exchange contract unless bank confirms, our completion date is on 7th of December,  can anyone advise how soon bank will confirm so we can exchange, and how many days it will take for them to transfer funds, 

@sambaj If completion is scheduled for Monday, Halifax should transfer the funds on Thursday or Friday, which is when you start being charged interest. For my own personal mortgage back in July, Halifax transferred the funds the day prior to completion. Hope that helps assuage your concerns a bit.

K_S said:

sambaj said:

Hi guys we are suppose to exchange contract tomorrow but banks hasn’t confirmed yet, my solicitor said she will not exchange contract unless bank confirms, our completion date is on 7th of December,  can anyone advise how soon bank will confirm so we can exchange, and how many days it will take for them to transfer funds, 

@sambaj If completion is scheduled for Monday, Halifax should transfer the funds on Thursday or Friday, which is when you start being charged interest. For my own personal mortgage back in July, Halifax transferred the funds the day prior to completion. Hope that helps assuage your concerns a bit.

Thanks, it helped alot

Thrugelmir

sambaj said:

Thrugelmir said:

Sounds as if you are almost there. There's no need to concern yourself. 

But do you know how long will bank take to confirm 

All a standard process. The funds will be available in time for completion. 

sambaj

Thrugelmir said:

sambaj said:

Thrugelmir said:

Sounds as if you are almost there. There's no need to concern yourself. 

But do you know how long will bank take to confirm 

All a standard process. The funds will be available in time for completion. 

Thanks for reassurance,