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  • FIRST POST
    • BishBashBosh86
    • By BishBashBosh86 17th Mar 17, 8:25 PM
    • 23Posts
    • 11Thanks
    BishBashBosh86
    Documents Mcgee - When to sign lenders documents
    • #1
    • 17th Mar 17, 8:25 PM
    Documents Mcgee - When to sign lenders documents 17th Mar 17 at 8:25 PM
    So as I get home, I'm welcomed by the sight of a mountain of paperwork from my solicitors and mortgage lender to go through (im buying my first house) It's all expected and I'm glad I have the weekend to go through them but one question which is bugging me abit is when do I sign all these documents?

    So from the solicitors I have all the documentation from the sellers solicitor which all look fine but I have a "Contract" to sign which it says becomes binding on exchange of contracts. My solicitor said I could sign this now or wait a while, easy enough so far.

    The other documents came from my mortgage lender:
    • I have an offer acceptance letter which I have 7 days to reflect over (im happy with the contents)
    • A direct debit mandate
    • A mortgage deed (my solicitor is sending me another copy to sign)

    I have made contact with a surveyor to undertake a Homebuyers survey, hopefully to be carried out next week.

    Basically, when do I sign the mortgage lenders document - the acceptance letter and deeds? After I've had my Homebuyers survey? Or can I sign them now and if so would i still be able to pull out if for example something comes up with my survey?

    By the way I am going to talk about this with my solicitor on Monday but just want to get a general idea as to be honest I'm a little lost!

    Cheers
Page 1
    • G_M
    • By G_M 17th Mar 17, 9:15 PM
    • 41,100 Posts
    • 47,242 Thanks
    G_M
    • #2
    • 17th Mar 17, 9:15 PM
    • #2
    • 17th Mar 17, 9:15 PM
    Sign and return them.

    If the purchase falls through, at any time in the future, for any reason, then

    a) Exchange of contracts will not happen
    b) your mortgage will not be activated and the funds will not be released.

    the important thing is to spend the w/end reading it all, making sure you understand, and agree.

    Anything you don't understand (or like) then ask your solicitor or lender.

    But the signing itself is simply confirmation that you are happy to progress so far - NOT that you are (yet) commited.
    • BishBashBosh86
    • By BishBashBosh86 18th Mar 17, 10:28 AM
    • 23 Posts
    • 11 Thanks
    BishBashBosh86
    • #3
    • 18th Mar 17, 10:28 AM
    • #3
    • 18th Mar 17, 10:28 AM
    Sign and return them.

    If the purchase falls through, at any time in the future, for any reason, then

    a) Exchange of contracts will not happen
    b) your mortgage will not be activated and the funds will not be released.

    the important thing is to spend the w/end reading it all, making sure you understand, and agree.

    Anything you don't understand (or like) then ask your solicitor or lender.

    But the signing itself is simply confirmation that you are happy to progress so far - NOT that you are (yet) commited.
    Originally posted by G_M
    Thanks for clearing that up. You're a star!
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