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How quick can mortgage funds be drawn down?
Waller97
Posts: 12
Forumite
Awaiting completion on our house purchase using nationwide mortgage. We are doing a simultaneous exchange and completion. Our file has been signed off by solicitors today and they are about to pick the date. Is it silly to try and push for Friday this week? I’m not sure how much notice nationwide need to send funds but between my solicitors and nationwide we have had already had about a 20 working delay and have had to escalate our case with nationwide numerous times. Our seller is also especially frustrated with my solicitors who have caused a few difficulties along the way. Is it possible if we request the funds today for Friday to work does anyone have any experience of this?
Thanks
0
Comments
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How long is a piece of string? Back in the day most lenders wanted about four days, some could do it in less. If it's for a simultaneous exchange and completion then it's easier as if funds aren't in place then exchange doesn't take place. You need to ensure enough time if they aren't simultaneous.
It shouldn't be up to your solicitors though (other than advising on the reality of getting funds drawn down).0
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