This additional time is to allow for the high number of requests for funds (Certificates of Title) we receive which are incorrect, disclose issues we need to review and/ or relate to conditions which are referred to on your mortgage offer which have not or cannot be satisfied.
If a mortgage offer has expired we would need 20 working days’ notice to release funds in total: that’s 10 working days to process an extension to the offer and 10 working days to process the release of funds. Funds will only be released where a mortgage offer has not expired, your solicitor has sent us an unconditional Certificate of Title and all mortgage offer conditions have been satisfied. This means that if your mortgage is due to expire, if any conditions on it are not satisfied or if your solicitor requests funds with less than 10 working days, you may not be able to complete on time. Please work closely with your solicitor to ensure all of these criteria are met.