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How does the exchange/completion day work?
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
I'm a FTB, buying a chain free flat. Exchange and completion will be on the same day. Yesterday, solicitor still hadn't received the mortgage funds
Can the funds be transferred today?
If so,
Will solicitor just go ahead and do the exchange and completion (which she knows I already am desperate for it to go ahead) or will I be phoned to formally confirm?
Will solicitor just phone me to tell me it's all done and I can collect the keys?
Thanks!
Can the funds be transferred today?
If so,
Will solicitor just go ahead and do the exchange and completion (which she knows I already am desperate for it to go ahead) or will I be phoned to formally confirm?
Will solicitor just phone me to tell me it's all done and I can collect the keys?
Thanks!
0
Comments
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It depends on when your exchange/completion is. Funds won't be released earlier than they need to be.
Talk to your solicitor about your intended completion date and she'll update you.0 -
The intended completion day is supposed to be today. But as of yesterday, the mortgage funds hadn't arrived. My solicitor likes all monies sorted the day before. My money has been paid and verified by solicitor .Deleted_User said:It depends on when your exchange/completion is. Funds won't be released earlier than they need to be.
Talk to your solicitor about your intended completion date and she'll update you.
I haven't heard anything from her today, which I why I asked on here, and I don't want to phone in case she's busy sorting things out!0 -
She should have ordered the mortgage money to arrive on the day required - so today.0
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OK, thank you.parcival said:She should have ordered the mortgage money to arrive on the day required - so today.
It was my understanding that solicitors ordered the money to arrive on the day before completion. The request for the money went in on Tuesday.
My solicitor was phoning the lender yesterday to confirm the release of funds, but she never got back to me.
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The Mortgage money still hasn't arrived! If I haven't heard anything by 3, I'll get a bit twitchy!0
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