Requesting funds for completion

[Deleted User]

Hi all,

I just had a couple of questions.
My solicitor has requested funds from Halifax to arrive the day before completion (which is in one month)
Halifax have confirmed receipt of the request and have said that it is just waiting for draw down.

my question is, how does the funds request work? Will the solicitor have given Halifax all the info and paperwork they require at this point?

Will the funds just automatically arrive on the agreed date now?
 Would Halifax have either chosen to or not to perform a credit check at this point?
I'm guessing I would have heard by now if there were any issues.
 

Thanks in advance 

Thrugelmir

Your solicitor is also employed by the lender ( you are paying the fees).  The Halifax will not release the funds until they are happy with what the solicitor reports to them. 

Halifax could perform checks at any point. There's continuous random internal compliance checks going on. 

MaryNB

That's quite early. Are you exchanging soon? I wouldn't worry about anything. Leave it with your solicitor. Sounds like you're on the home stretch. 

I got a mortgage with Halifax last year and the only credit checks done were the day after I did my application. No credit checks at all after I got my offer. 
In the weeks leading up to exchange I sent my solicitor my signed mortgage deed, my solicitor issued the request 5 days before completion, 2 days later they confirmed the money would be ready in time for completion, funds arrived the day before completion (which was the day we exchanged). 

MaryNB

kal-el said:

MaryNB said:

That's quite early. Are you exchanging soon? I wouldn't worry about anything. Leave it with your solicitor. Sounds like you're on the home stretch. 

I got a mortgage with Halifax last year and the only credit checks done were the day after I did my application. No credit checks at all after I got my offer. 
In the weeks leading up to exchange I sent my solicitor my signed mortgage deed, my solicitor issued the request 5 days before completion, 2 days later they confirmed the money would be ready in time for completion, funds arrived the day before completion (which was the day we exchanged). 

Hi, 

we exchanged four weeks back as the vendors are buying a new build and needed to exchange earlier (risky. I know) but we got them to agree to a fixed date. 

I have been credit checked three times so far but this was because I had to make amendments (address etc). 

Hoping it's plain sailing from here, it's been a long five months 

If you've already exchanged then that's that. No point in stressing. Obviously just don't take out any credit agreements (buying expensive furniture on finance etc.) just in case. Generally the only thing to worry about post exchange is that the funds arrive in time but that usually a concern for people exchange and completing in a short space of time, and it usually gets sorted. If they've credit checked you three times already and you're still on track I wouldn't worry.