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Hi all. 

I am due to exchange on a property shortly. Me and my SO got our mortgage offer just after returning to work from Furlough after the first national lockdown. Our jobs are totally safe but we risk being furloughed again if this lockdown is extended. We requested to complete before the end of this month incase we are furloughed next month as our mortgage lender will withdraw their offer if we're furloughed. We've now been told that we cant complete till the start of next month and they want to us to exchange at the end of this month. I am scared to exchange contracts then find out that lockdown is extended and not be able to complete, running the risk of losing our deposit which would be devastating. I want to do a simultaneous exchange and comple to protect out deposit but the solicitors have said we can't despite the vendor not being in a chain. Can we tell our solicitor that we won't exchange contracts until the mortage funds have been released to them? I'm assuming this would work if there was only a few days between exchange and completion? Will this protect our deposit? Tia 

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As your solicitor why you can't exchange and complete at the same time - I though it was common practice the year. If it is just that the vendor 'doesn't want to' you should be able to insist. Otherwise get the smallest gap possible.

Good luck :) 

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