Equity release mortgage holding chain up

[Helenj1977]

We all started the buying process at the very end of August with the chain complete and everyone’s offers accepted. There are 7 in our chain and we’re all ready bar this one.

The whole chain is ready but there’s an equity release mortgage that no one appears to know will be ready.

No one can tell us when the application started. And no one can chase bar that buyers solicitor.

Has anyone else come across this? Does it really take this long? We just want to exchange, it’s so frustrating now.

Not me personally but I know friends who have recently done one in the last month - it took 6 weeks from application for the equity release for funds to come through

Thank you! We must be very close to 6 weeks or over. It’s so frustrating they won’t tell us how far along it is.

Problem is the solicitors can only really chase the buyers and from what my friends said it was impossible to get anything out out of the bank as to a date the funds would be released