Mortgage Offer and Mortgage Deed

marlasinger

Hi,

Hoping someone can answer this question as it is outside business hours and so can't ask our advisor.

We have received our Mortgage Offer from Woolwich. I thought we would have to sign it and send it back. Instead, the offer says we will receive a Mortgage Deed from our solicitor. To accept the mortgage offer, we will have to sign and return the Mortgage Deed to the solicitor. Is this correct, that we don't have to return anything to Woolwich ourselves? It's just a bit different to what I was expecting, based on what other people have told me.

Thanks,

CKW1

Some lenders request a signed acceptance of offer to be returned to them, but most now tend to rely on you signing the mortgage deed as acceptance of the terms of the offer. Woolwich won't release any funds until your solicitor confirms that they have a signed Mortgage Deed from you and after completion of the loan this will be registered with the Land Registry and a copy sent to Woolwich for their records & to prove that you have accepted the terms of the mortgage offer.

Hope this helps answer your query.

marlasinger

Yes, very helpful. Thank you.:beer: