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Halifax - drawing down deposit, timescale
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BonaDea
Posts: 208 Forumite
Hello
My buyers' mortgage is with Halifax. I am racing to get to exchange by 30 October (at the latest) but last-minute problems mean we may not get the price and completion date agreed between us until 23 or 24 October. I'm worried that the buyers' deposit may not be available in time for us to exchange by 30 October as that gives only 4/5 working days. Does anyone know how long Halifax requires for deposit drawdown?
My buyers' mortgage is with Halifax. I am racing to get to exchange by 30 October (at the latest) but last-minute problems mean we may not get the price and completion date agreed between us until 23 or 24 October. I'm worried that the buyers' deposit may not be available in time for us to exchange by 30 October as that gives only 4/5 working days. Does anyone know how long Halifax requires for deposit drawdown?
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Further to my post I've just realized it might be a rather silly one. If it is, excuses: it's so long since I've had a mortgage I've forgotten how it all works, plus I'm super stressed and evidently cognitively impaired by the whole process! Sooo.... it's the buyers who provide the deposit out of their own funds, no? So the Halifax isn't involved at all at this stage?0
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You mean mortgage funds drawdown?
It can be done in hours, if needed. Most solicitors ask for the funds two or three days ahead. They are returned to the lender if completion doesn't take place within a couple of days of the expected date.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
next day ours was with themDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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