How long do Halifax usually take to release mortgage funds?

Summerbee2

Quick question.

Does anyone know how long Halifax are taking to release mortgage funds at the moment? After a nightmare wait for a mortgage application with another lender, we switched and put in an application with the Halifax - they were very speedy and application to receiving mortgage offer took just 10 days. However due to the delays with the other lender we are way past our prefered moved date and want to exchange and complete ASAP. 

The property we're buying is a new build and is ready to move in - so the developer is also keen to get the sale completed ASAP. 

Our solicitor is saying he needs 10 days to draw the funds down from Halifax and complete, however given the report on title has already been completed and we've signed the contract ahead of exchange, I'm unsure why he needs 10 days. From what I've seen elsewhere Halifax don't need 10 days and they've been so quick in all other aspects of the application.

Thanks in advance

K_S

Summerbee2 said:

Quick question.

Does anyone know how long Halifax are taking to release mortgage funds at the moment? After a nightmare wait for a mortgage application with another lender, we switched and put in an application with the Halifax - they were very speedy and application to receiving mortgage offer took just 10 days. However due to the delays with the other lender we are way past our prefered moved date and want to exchange and complete ASAP. 

The property we're buying is a new build and is ready to move in - so the developer is also keen to get the sale completed ASAP. 

Our solicitor is saying he needs 10 days to draw the funds down from Halifax and complete, however given the report on title has already been completed and we've signed the contract ahead of exchange, I'm unsure why he needs 10 days. From what I've seen elsewhere Halifax don't need 10 days and they've been so quick in all other aspects of the application.

Thanks in advance

@summerbee2 Halifax need 3 working days notice to release funds.

But there may be other stuff that the conveyancer still needs to do before requesting funds, perhaps that explains the 10 days.