Conveyancing question

[Hayleydobedoo]

Hi all
2 weeks since offer accepted, searches are underway mortgage in place etc, we have gifted funds as part of our deposit solicitor have done ID checks for those proof etc and we have provided proof of savings for deposit and our ID checks we asked them is everything satisfactory and they said checks are not finalized until all financial info is available towards end of conveyancing process, what does this mean? Just scared something will come up and cause a delay 😭 Also they said try not to contact us as and when we have updates we will contact you, my partner is v laid back im very inpatient and expecting a baby in 3 months so is that the case we just wait to hear or how long would you leave it before requesting update?i know they have a lot of cases to handle, This is a no chain sale, I know up to 12 wks is guideline was hoping to complete sooner but yeah this is all new to us x

Bump

I'm interested to , we have submitted our mortgage application . Shown deposit that we've saved but we are being gifted our stamp duty .. we are unsure when this needs to be shown . Our estate agent says as long as it's in the account for when we exchange it'll be ok

Have you got cover letters for your gifted deposits to say it's not a loan and do not want the money back ?

What usually happens is that when you produce your kyc and source of funds someone, possibly an admin person will have given it an initial look over to check that everything is there, however, it is the fee earner (solicitor/legal executive/licensed conveyancer) who will sign it off. They probably wont get around to looking at it and signing it off until shortly before the funds are requested for the exchange and completion.

Hiya yeah thats all done and accepted

Ah I See, thank you for your help

Are you having a survey? Searches can also take some time to come back. Three to four months is average but with the market being so busy now, people are talking about longer conveyancing times.