Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

How long for Payment to come through after completion

2 replies

FigandHoney · 04/07/2023 14:31

For those of you who sold your house and didn't use all the funds to buy a new house, how long did it take for the payment from the Solicitor of the funds to come through and for your old mortgage to show as paid off?

Also are you supposed to cancel your direct debits for the old mortgage or does that happen automatically?

OP posts:
MinnieMountain · 04/07/2023 15:27

You should get your balance within 24 hours. Generally the day of completion but it depends if it happens before the bank transfer cut off time.
What do you mean by the mortgage showing as paid off? Your mortgage is removed from the title when the new owners are registered. The lender will normally send electronic confirmation to the Land Registry within a week.

Tryingtomoveisdrivingmecrazy · 04/07/2023 18:20

The funds from my sale were in my account by the afternoon of completion day.
Your lender will sort out the DD and refund any overpayment you may have made.

New posts on this thread. Refresh page
Swipe left for the next trending thread