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Lender approval for unadopted road

hbmse26
hbmse26 Posts: 2
First Post
Newbie
in House buying, renting & selling

Hi, first time buyer here currently in conveyancing stage, but it's getting delayed due to an unadopted close road with no maintenance agreement in place. Sellers solicitor has provided us with the indemnity policy to cover this and our solicitor has written to our lender (Halifax) to check if they are satisfied to go ahead. Now we are waiting to get confirmation from Halifax after they finish their final review.

Does anyone here know approximately how long Halifax may generally take to review if anyone else been in similar situation please? I'm guessing if the lender is satisfied, the next steps would be signing the documents for exchange of contracts and agreeing on completion date with the seller.

We do have LISA funds that need to withdrawn by our solicitor, so really having difficult time in understanding how long it may take to finally get the keys as we need to plan to move out of our current place soon. Please share if anyone here can have insights if they have been through similar case. Many thanks in advance!

Comments

  • RelievedSheff
    RelievedSheff Posts: 13,171
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    Forumite

    Your solicitor will give you plenty of notice that you are getting ready to head towards exchange and completion.

    It sounds like you are a little way off just yet.

  • hbmse26
    hbmse26 Posts: 2
    First Post
    Newbie

    Thank you for the response. Our solicitor got back saying the lender has okayed to go ahead, so I guess we are heading towards exchange and completion soon.

    Fingers crossed there won't be any more hurdles to cross that might cause major delays.

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