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How long does lender take to release mortgage funds after request gone in ?
Moira7
Posts: 9 Forumite
My son has a mortgage offer from Barclays. The solicitor put in the request to release mortgage funds last Wednesday 3 March. We want the funds released on 11 March. There is still no confirmation for release of funds. How long does it usually take ?
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Comments
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In time for the solicitor's requested timescale. As soon as the funds are drawn interest starts being charged on the loan.1
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Barclays say it has not been signed off yet. Is this anything to worry about for just part of the admin process ?
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https://forums.moneysavingexpert.com/discussion/6248520/barclays-mortgage-scotland#latest
You've asked 4 times over the last day, this is a question the solicitors can answer.Mortgage started 2020, aiming to clear 31/12/2029.2 -
There's no need for the lender to confirm before they release the funds that they're going to release the funds, this seems to be a pointless additional step solicitors have thought up in the past year. If Barclays had a problem with it, they'd have told your son (or his solicitor).2
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Nothing to worry about.
According to my online account with my mortgage provider, my application hasn't even been approved!
I exchanged last week and I'm completing next week!
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I would actually be concerned about this.parkingadvice1212 said:Nothing to worry about.
According to my online account with my mortgage provider, my application hasn't even been approved!
I exchanged last week and I'm completing next week!1
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