Mortgage offer accepted next step

leereni

I'm happy to say I had my mortgage offer accepted today from nationwide. Didn't take too long and went through an advisor.

What exactly is the next step? I've been told they will be informing the solicitor/conveyancer.

kingstreet

Postal copies to you, broker and solicitor.

Solicitor does searches and other legal work.

When everyone in chain has all paperwork in place, each party asked to provide preferred completion dates.

When completion dates agreed and deposits paid and contracts signed, contracts can be exchanged by solicitors and completion becomes legally binding on agreed date.

Completion takes place and money and keys change hands.

leereni

Great, I instructed solicitors to do searches several weeks ago and I believe they are complete, so sounds like borrower sends copy and then when everyone is happy then contracts can be exchanged.