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Mortgage advance

herewego123
herewego123 Posts: 46 Forumite
10 Posts First Anniversary
in Mortgages & endowments
Ello.

I had a letter from my solicitor yesterday stating that they have received mortgage instructions from Halifax for an advance to me for the sum I'm borrowing.

Is that good news and does it mean that halifax are just waiting on the completion date to transfer funds ?

Regards

Comments

  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,947 Forumite
    1,000 Posts Third Anniversary Name Dropper
    If you still want the mortgage from them then yes, it's good news.
  • herewego123
    herewego123 Posts: 46 Forumite
    10 Posts First Anniversary
    Hi Thankyou

    Does it mean they are just waiting for a completion date ?

    regards 

  • MWT
    MWT Posts: 10,549 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    herewego123 said:
    Hi Thankyou

    Does it mean they are just waiting for a completion date ?

    regards 

    They will be waiting for your solicitor to request the funds, which he will only do at a point that ensures he has the funds in time for your completion date.
    Your liability for the interest begins as soon as the funds are transferred, so you don't want that to be any earlier than necessary...

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