Starting to get concerned

jones_guitar

Hi, I have a refinance and purchase going through simultaneously.

So far:

• Both mortgage offers have been received;
• Legal pack has been reviewed and queries raised a week ago.

It needs to complete in three weeks. I'm now concerned, it appears to me mortgage conveyancing checks need to be done to release funds, contracts needs to be drawn up etc.

Anyone with experience able to tell me if this is possible?

I have emailed the solicitors, telling her I'm a little concerned.

TroubledTarts

Questions for your solicitor to find out where everything is and to set an exchange and completion date.

What runs out in three weeks? Mortgage offer? If so talk to your broker or if arranged yourself whomever you went with about an extension.

jones_guitar

I move in three weeks, they are buy-to-let mortgages. A re-verification would need to be done, making the mortgages possibility compromised.

TroubledTarts

Over to your solicitor then

Tiglet2

https://forums.moneysavingexpert.com/discussion/6671518/starting-to-get-concerned

If queries were raised only a week ago, it would seem three weeks to completion is optimistic, unless the queries were really simple and not too many of them.

Are you re-financing your Buy to Lets in order to purchase in cash?

jones_guitar

Refinancing the purchase second property. Hence two mortgages/files.

Actually, sorry, 4 working weeks left.

poseidon1

https://forums.moneysavingexpert.com/discussion/6671518/starting-to-get-concerned

Is it possible your past relatively recent history of defaults are now under further review as part of the re-verification process?

jones_guitar

No, this isn't a problem.