Money Release On Completion.

[hammerman]

Hi,
We're due to exchange contracts on our property this week with a completion date set for the 23rd March.

Once completion day arrives, are all the creditors (mortgage, secured loans, conveyencing and estate agent fees etc) paid on the same day and would we get our cash transferred to our banks on the same day?

Wife and I are going our separate ways and have already moved into new places. She was just asking when we should get the money from the property (conveyencing solicitor is currently sick or i would've phoned her)

Just to say, financial agreement is in place etc etc.

Cheers

[woofgang]

The money may be sent that day but its possible that the banks and so on won't have received it and if they have, won't have processed it.