Will we get a confirmation letter from our BS for our mortgage that we can use to exchange on?

[saltyseadog]

Our BS has said that it will be 4-6 weeks from the application being submitted to the funds being released. This suits us fine from a completion perspective, however we're looking to exchange asap. Do you get a letter from your bank/ BS to confirm that they will release the funds to you in x weeks time i.e. some assurance from them so that we are in a comfortable position to exchange?

Sorry - it feels like aeons since we last bought, so all my memories of the house buying process are really fuzzy.

You should get a formal written mortgage offer from the BS and your solicitor should also be sent a written letter of instruction from the bank with a copy of the mortgage offer attached. Your solicitor should not let you exchange without it, and watch out for the date the offer exoires too.

Thanks Tizzy. I'm assuming we get that sometime in the 4-6 week processing period?

Should come quite quickly, ie as soon as your application is approved. Will confirm the details of the loan etc. But get your solicitor to explain it all to you (its what you pay us for!).

Thanks Tizzy. DH is a bit apprehensive about phoning the solicitor at the moment, our usual one is away so it's the partner of the firm who's covering for her - my DH is not fond of spending money and I think he worries that a 5 min phone call will equal £500 on our bill .

Usually conveyancing is on a fixed fee basis so one call shouldn't cost you more. but the report your solicitor sends you when she has done all the title investigations etc should explain the mortgage offer, and the terms of the contract etc.