Accepting the mortgage offer

If you wish to go ahead with your mortgage, then you will need to accept the mortgage offer. From this point onwards there is a large amount of work that needs to be done by your solicitor or licensed conveyor. For example, you will receive a document known as a mortgage deed from your solicitor whom will explain all the details. Is a legal contract between you and your lender and both of you will have to sign.

Before completion your solicitor or conveyancer will send a report to your lender known as the ‘Report on Title’, which contains details of the search, carried out in the property and any legal titles to the land, that the lender will need to check. Your solicitor will then ask the lender to transfer the money you are borrowing onto them, and on the day of completion the outstanding purchase money is transferred to the seller’ solicitor, and you will receive the keys to the property.