Solicitors Copy of Mortgage Offer

ewpb

Hi,

My husband and I have had our mortgage offer sent in the post. During the application with our broker I said that we would pay off all of our unsecured debt upon completion of our house sale and purchase. There is no mention of this condition anywhere in our mortgage offer.

Will our solicitors copy of the mortgage offer differ in that it will contain a condition relating to our unsecured debt or because it is not mentioned in our offer does that mean that it will not come up in proceedings?

Ideally I would like to keep some of our savings as I am currently on maternity leave.

Any answers on this would be most helpful.
Thanks

chopper78

Your solicitor's copy will have the same terms as yours.

My offer specified that some credit cards would be settled prior to completion and even listed each credit card individually. I subsequently made enquiries as to whether that meant that I simply had to pay off the last statement in full, or whether it literally meant that at completion my credit card balances, including transactions not yet included on a statement, had to be zeroed. (i.e. allowing me to continue spending £300 a month on my Halifax Clarity card for my £5 credit, etc).

The advisor at the bank stated (in writing) that small balances were OK, just not long term big 'debt' (annoying, as I had £5000 on a 0% credit card despite having the cash to pay it off) and the solicitor advised that she would not need to see proof that the credit cards had been settled but emphasised that it was important for me to note they were a condition of the mortgage and advised me of the potential consequences of being in breach.

Meeper

Depends on the lender. Some (Halifax, for example) will put each individual credit agreement in the offer. Some (Santander, for example), will not.

ewpb

Thanks for your replies.

Can I just confirm Meeper that if the mortgage offer does not state anything about credit card repayment that it is not part of the mortgage conditions? (It is actually an Abbey mortgage) Could it be on the solicitors copy of the offer and not ours?

Meeper

Your copy of the mortgage offer is the same as the solicitors copy. The only extra stuff they get are the Mortgage Deed and template Certificate of Title. If your offer says nothing about repaying debts, then the solicitor copy won't either.

ewpb

Many Thanks