morgtgage offer - next step

beorc

After finally getting a mortgage offer:j,
I have called the solicitor and searches are underway etc.

My question is - we borrowed a bit more than required to buy the house to do some work on it. What happens to the money - does it go to the seller straight away or does the solicitor hold the mortgage amount and divide between us? eg £75000 to the seller, and £ 10000 into my bank account?

This is a first time buyer mortgage by the way in case it makes a difference. Hope you can help.

Cheers

B.

Joe_Bloggs

If you are unsure about anything then it is best to get advice from your conveyancing solicitor. You are paying for then to advise and act for you. I have come across a link to a detailed description of the conveyancing process here. There are regional variations so if you are in Scotland or Northern Ireland then you are better off seeking local knowledge.
From memory this was a tense time, for me, made worse by first time buyers nerves. There was never anything to worry about but you can use your own imagination to make things worse.
J_B.

g_attrill

The solicitor will tell you for sure. Also, does the mortgage company know you are borrowing more than the house is being purchased for? They will normally only lend up to the value of the house, or the purchase price, whichever is lower.

mortgage-adviser-now

you need to tell the conveyancer what you want them to do with it (ie which account to pay it into.

they have no reason to give any extra to the seller

A bit puzzled as to why the conveyancer cannot provide this answer for you