Change of solicitors after exchange

badger09

That sounds very stressful. Without wishing to add to it…
is your new solicitor on your lender’s panel?

GDB2222

There are obviously costs for failing to complete on time, but for a new build it’s only likely to be interest plus the costs of serving a completion notice. So, think in terms of hundreds of pounds, rather than thousands. 

That’s assuming that you complete late, but within two weeks of the completion notice. Still, it means that you have an extra couple of weeks before things get really nasty.

In practice, the builder wants the property sold. Sure, if you fall to complete, they can keep the deposit and sue for damages, but they want the house sold. It’s not as if the market is so buoyant that they can keep your deposit and easily resell at the same price. So, you may find that they simply bear with you if your solicitor is late with completion. 

Extrageorge

Thanks everyone for your replies they’ve been really helpful. 

I have checked with the solicitors and they have confirmed they are on my lenders panel thankfully. 

My new solicitor has said they can’t confirm whether or not they will be able to complete on the 25th for some reason. 

I think I’ll just have to wait it out and see what happens once completion notice is served on the 18th. 

SDLT_Geek

Extrageorge said:

Thanks everyone for your replies they’ve been really helpful. 

I have checked with the solicitors and they have confirmed they are on my lenders panel thankfully. 

My new solicitor has said they can’t confirm whether or not they will be able to complete on the 25th for some reason. 

I think I’ll just have to wait it out and see what happens once completion notice is served on the 18th. 

Even though the title investigations etc should have been completed before exchange of contracts, the lender will require a "certificate of title" from the new conveyancers before completion.  That means the new solicitors will need to check for themselves that everything is in order.