What happens if we resend the mortgage withdrawal money to Bank as the builder is taking time to giv

datasag

Hello All,

I am first time buyer.

Our house was last stage of closing the sale.

Our mortgage funds are released and are with Solicitors now.

But the builder has not provided the completion compliance Certificate yet. Because of that we have not received the keys yet.

Money is with Solicitor. And our solicitor was telling she will send back money to bank as there is delays in documents now.

Does it impact the whole mortgage process ?

Is it fine send them back and again get that released once missing document is given by builder. Please suggest the correct actions.

Thank you all.

New Scottman

Solicitor should just retain them in their designated "clients account" until the certificate is provided. There's nothing to stop them doing that and just waiting.

Sending them back to the bank will cause more delays.

Davexirl

The solicitor should send the funds back to the bank, otherwise you will start paying for the mortgage and you have not got the keys. The bank will re-release the funds once everything is complete.

Henry Ford III

Solicitors should sort out the issue between them.