When Does a Solicitor Request Mortgage Funds

Learn when solicitors request mortgage funds during a UK house purchase and why lenders release the money the day before completion.

At Lillian Purge, we specialise in SEO for Solicitors. This resource explains when a solicitor requests mortgage funds during a property transaction.

When buying a property with the help of a mortgage, one of the key stages in the conveyancing process is the release of funds from your lender. Your solicitor is responsible for requesting these funds on your behalf and ensuring they arrive in time for completion. Understanding when this happens, how the process works, and what could delay it helps buyers prepare and ensures the purchase proceeds smoothly.

The Role of a Solicitor in Requesting Mortgage Funds

Once your mortgage offer has been approved and all conveyancing checks are complete, your solicitor coordinates with your lender to request the mortgage funds. The solicitor’s role is to make sure the money is available on the day of completion so the property can legally transfer from the seller to the buyer.

Solicitors must carefully time this request, as mortgage lenders usually need a specific notice period before releasing funds. Requesting the money too early could lead to interest being charged before completion, while requesting too late could delay the transaction.

When Solicitors Usually Request Mortgage Funds

Solicitors typically request mortgage funds around five working days before completion, although the exact timeframe can vary depending on the lender’s requirements. Some lenders release funds within 24 to 48 hours, while others may take longer.

Your solicitor will check the lender’s instructions—known as the CML Handbook or lender’s requirements—and follow their specified notice period. They will usually:

Confirm the completion date with the seller’s solicitor.
Submit a formal request for the mortgage funds to the lender.
Ensure any final legal and administrative checks are complete before the funds are needed.

By requesting the funds in advance, the solicitor ensures that the money is received and cleared in their client account before completion day, allowing the purchase to proceed without delays.

Why Timing Matters

The timing of the mortgage funds request is crucial. If the funds arrive too early, the lender may start charging interest immediately, increasing the buyer’s costs. If they arrive too late, completion could be delayed, which can lead to breach of contract penalties or even risk losing the property.

Solicitors therefore plan the request carefully to balance these factors. They will consider:

The lender’s notice period for releasing funds.
The agreed completion date.
Potential bank transfer or clearance times.
Any public holidays or weekends that may affect processing.

Most lenders release funds by same-day CHAPS transfer, but the solicitor must still build in enough time to account for any unexpected delays.

What Happens Before the Request

Before your solicitor requests the mortgage funds, several important steps must be completed:

The final mortgage offer must be issued by the lender and accepted by you.
All searches, enquiries, and legal checks must be resolved.
The exchange of contracts must take place, fixing the completion date.
The solicitor must send a final completion statement showing the exact amount required from you, including your deposit and fees.

Once you approve the completion statement and transfer any remaining balance due, the solicitor can formally request the mortgage funds from your lender.

What Happens After the Request

After the solicitor requests the funds, the lender processes the request and arranges for the money to be sent to the solicitor’s client account. This typically happens one working day before completion, though some lenders send the money on the same day.

The solicitor will then confirm receipt of the funds and hold them securely until the agreed completion date. On that day, they send the total purchase funds (including your deposit) to the seller’s solicitor to complete the transaction. Once the money is received, the property legally becomes yours.

What Can Delay Mortgage Fund Release

Delays in receiving mortgage funds can occur for a few reasons:

The lender’s internal processing time or backlog.
Errors in the solicitor’s request form or missing documentation.
Incorrect or incomplete details provided to the lender.
Bank transfer delays, especially if completion falls near a weekend or bank holiday.

To reduce risk, solicitors always request funds a few days in advance and maintain communication with both the lender and the buyer. Clients can help by ensuring all required documents, signatures, and payments are provided promptly.

How Early Funds Can Be Requested

Some buyers ask whether their solicitor can request funds earlier to avoid last-minute problems. While this is possible, it’s not always advisable because interest on the mortgage starts accruing as soon as the lender releases the money. For example, if the funds are released two days before completion, the buyer will pay interest for those days even though they do not yet own the property.

If an earlier request is necessary—such as for long-distance transfers or complex transactions—the solicitor will inform the buyer about any additional costs or implications.

The Day of Completion

On completion day, the solicitor uses the mortgage funds along with the buyer’s deposit to pay the seller’s solicitor. Once the payment has cleared, the seller’s solicitor confirms receipt, and the keys are released to the buyer.

After completion, the solicitor registers the buyer as the new owner with the Land Registry and ensures any remaining paperwork, such as the mortgage deed, is finalised.

What Buyers Should Do

Buyers can help ensure the mortgage funds process runs smoothly by:

Responding promptly to their solicitor’s requests for documents or signatures.
Paying any required balance (deposit or fees) on time.
Keeping their lender informed of the agreed completion date.
Avoiding making changes to their financial circumstances before completion, as this could affect the lender’s approval.

Being organised and proactive helps the solicitor meet deadlines and prevents unnecessary stress close to completion.

Final Thoughts

Solicitors usually request mortgage funds around five working days before completion to ensure the money arrives on time and the purchase goes smoothly. The exact timing depends on your lender’s requirements and how quickly they process the request.

By working closely with your solicitor, confirming all details early, and ensuring funds are available when needed, you can help ensure your property purchase completes without unnecessary delays. Proper planning and communication are key to a successful transaction.