u/Technical_Law_1085

Exchange completion same day ?

Has anybody used StrideUp Homes for their mortgage/home purchase plan, and did they require same-day exchange and completion?
I’m currently selling to a buyer using StrideUp, and we’ve been told they can only exchange and complete on the same day because of the Islamic mortgage setup.
I’m trying to understand whether this is actually a StrideUp requirement, or just something their solicitor/panel solicitor prefers for this transaction.
Would be really helpful to hear from anyone who has:
bought with StrideUp,

sold to someone using them,

or had a chain involving them.

Did you have a normal gap between exchange and completion, or did everything have to happen simultaneously?
Thanks!

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u/Technical_Law_1085 — 6 days ago
▲ 0 r/Mortgageadviceuk+1 crossposts

Islamic mortgage same day exchange/completion???

I’m in a chain of 4 and just got this update from the agent:
The seller wants 3–4 weeks between exchange and completion. However, your buyer has said they can only exchange and complete on the same day due to their Islamic mortgage requirements. I will revert with further information shortly.
So basically:
Seller wants a normal gap between exchange and completion
One buyer in the chain apparently needs same-day exchange and completion
Agent is now “looking into it”
My questions:
Is this actually a normal thing in chains ?

reddit.com
u/Technical_Law_1085 — 6 days ago