Mortgage checks pre completion

Firecrest67 · 29 May 2014 at 8:27PM

Hello all,

What checks do mortgage companies carry out before exchange/completion?

Shiloe · 29 May 2014 at 8:32PM

Surely if you were going to exchange tomorrow and it was always going to be possible to clear the 9K outstanding you would have done it before 20:57pm the night before exchange ?

What happened in the past half hour to throw this up in the air - sorry I am confused

Shiloe · 29 May 2014 at 8:45PM

Not exactly sure why you have changed your WHOLE question...

You originally stated your mortgage depended on you clearing 9K outstanding you and your partner had in credit. You said this was all fine up until about half an hour ago when everything changed (you posted at 9:27pm therefore problem started at 8:57pm).

You stated you are due to exchanged tomorrow and are now worried as the 9K debt has not been cleared. You were then wondering if they would actually check this debt had been cleared.

Simple answer: PROBABLY YES THEY WILL CHECK

Complex answer: If they don't, you lie to them, take the money, they find out they could then try do you for mortgage fraud. You made an agreement to clear that debt BEFORE exchange.