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Mortgage with conditions
polardesign
Posts: 36 Forumite
I have now received a mortgage offer.
One of the conditions is that it is my responsibility to make sure loans etc are cleared prior to completion.
How is this checked?
One of the conditions is that it is my responsibility to make sure loans etc are cleared prior to completion.
How is this checked?
0
Comments
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If it specifically says "before completion" your solicitor may have been instructed to obtain evidence of their repayment from you.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Or a spot check audit is performed before the lender releases the funds for completion.
Even if you complete without the loans being cleared. In the event of financial difficulties subsequently you would have not complied with the terms of your mortgage. So would be in default. Which would severely impact your defence.0
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