Will I need to expedite mortgage funds?

toniq

Our new build is signed off next Friday 8th October.

Completion 15th October.

But our Solicitor states notice can’t be served till relevant documents/certificates received which will be 11th October and HSBC will want 6 working days notice to release funds.

Our rental lease expires 16th and we booked and paid £3000 to removals as new build stated it was safe to.

Mortgage broker puzzled Solicitor is saying we have to expedite it as he thinks it’s her job as does new build.

Will it really take 6 days to release funds and have I got reason to worry?

Thanks in advance 

user1977

toniq said:

Will it really take 6 days to release funds and have I got reason to worry?

Almost certainly not. Lenders just don't like to over-promise.

Why does your solicitor think she can't ask for the funds in advance? All the lender cares about is that completion doesn't actually happen until all the paperwork is in order.

toniq

Our solicitor has butted heads with new builds solicitor for months over every little thing. 

I actually thought when finally exchanged last week we over all the hurdles but now I think not.

980233

toniq said:

Our new build is signed off next Friday 8th October.

Completion 15th October.

But our Solicitor states notice can’t be served till relevant documents/certificates received which will be 11th October and HSBC will want 6 working days notice to release funds.

Our rental lease expires 16th and we booked and paid £3000 to removals as new build stated it was safe to.

Mortgage broker puzzled Solicitor is saying we have to expedite it as he thinks it’s her job as does new build.

Will it really take 6 days to release funds and have I got reason to worry?

Thanks in advance 

£3000 for removals? Are they wearing diamond shoes and gloves?

toniq

We moved from Sussex to Durham hence the price, we took removals insurance of £30k in that price too.

980233

toniq said:

We moved from Sussex to Durham hence the price, we took removals insurance of £30k in that price too.

Ah ok, distance a factor then.

Thrugelmir

Who set the completion date if the property hasn't been signed off? 

toniq

The developer at exchange 

Thrugelmir

toniq said:

The developer at exchange 

On a new build you are normally given 10 days from when the notice to complete is issued. 

user1977

Thrugelmir said:

toniq said:

The developer at exchange 

On a new build you are normally given 10 days from when the notice to complete is issued. 

I presume the OP means the inspection is due to take place on the 8th, and assuming it's signed off then, completion in terms of the contract is a week later.

toniq

@user1977 is correct, we have had some major delays, original completion was July 30th, then Sept 24th, now 15th October handover as access to garage will be complete to allow us to complete the sale. Removals due to distance and size of van to accommodate 8 containers worth needed the full 2 weeks notification which the developer has given but our solicitor not happy with 4/5 days to release funds from HSBC.