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Who is responsible for Mortgage funds whilst with Solicitor?

Lee64
Lee64 Posts: 7 Forumite
in Mortgages & endowments
Once the mortgage funds have been transferred to your solicitor whose responsibility are they, the lender's, the solicitor's or the buyers?

Comments

  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Solicitor..........
    Official MR B fan club,dont go............................
  • TighterThanTwoCoatsOfPain
    TighterThanTwoCoatsOfPain Posts: 860 Forumite
    ess0two wrote: »
    Solicitor..........


    Say what? We may be interpretting the question differently, but i took it to be who is repsoncible for servicing the debt during the period from draw down to Completion... This would be the Buyer.

    Like i say, may well have mis-interpreted
  • Lee64
    Lee64 Posts: 7 Forumite
    Yes I was meaning who is responsible for the debt, say for example if that money went astray.
  • happybroker
    happybroker Posts: 1,301 Forumite
    you are responsible for paying any payments that fall due, the solicitor is responsible for the safe keeping of the money (it will be in their client account) until it gets used.
    Happily an ex mortgage broker!
  • Dan_1976
    Dan_1976 Posts: 943 Forumite
    Yeah so make sure they pay whoever they are meant to asap!
    "Banking establishments are more dangerous than standing armies." Thomas Jefferson
    "How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen

    Debt Apr 2010 £0
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