Mortgage offer/ Holiday /due to exchange

Newbie78

Hello,


We are just awaiting our mortgage offer in the next 24 hrs


We are purchasing a 35% share of a shared ownership home


The catch is we are flying overseas for Xmas & New Year and leaving next week (7 working days)


Our Broker/Housing Association and Solicitor are all aware


Our solicitor has said he will do all possible to make sure we have signed all the docs needed so we can not worry while we are away, the searches were underway and may be complete


The HA are happy to work around us and said keep them updated, which we have


Our Broker has always said this happens and it's not a problem


The holiday has been planned since February but buying a place came up and before we knew it we were in the middle of the process


Were both a little nervous what will happen next, anyone been in a similar situation?

eddddy

The first step is to decide what you would like to happen... e.g.

- Delay signing and exchanging of contracts until you return

- Sign contracts before you go with instructions to your solicitor to exchange when ready, whilst you're away

- Give solicitor Power of Attorney to sign contracts on your behalf whilst you're away

Newbie78

eddddy wrote: »

The first step is to decide what you would like to happen... e.g.

- Delay signing and exchanging of contracts until you return

- Sign contracts before you go with instructions to your solicitor to exchange when ready, whilst you're away

- Give solicitor Power of Attorney to sign contracts on your behalf whilst you're away

Thanks Eddddy


I think option B is the one we had discussed with the solicitor but it was a month ago so we hadn't continued the discussion, we are in contact again

davidmcn

Would do no harm to have a POA in place in case anything crops up. Presume you have phone/email access while you're away?

Newbie78

davidmcn wrote: »

Would do no harm to have a POA in place in case anything crops up. Presume you have phone/email access while you're away?

Yes we will, I think the idea of it was freaking us out a little. FTB here too

G_M

Make clear to your solicitor what date you want for Completion too.

In your position, I'd appoint a POA as a fall-back. Either a local relative you trust or your solicitor. The POA can be worded very specifically so as to only grant rights related to this purchase, and only within a specified time-frame.

Newbie78

G_M wrote: »

Make clear to your solicitor what date you want for Completion too.

In your position, I'd appoint a POA as a fall-back. Either a local relative you trust or your solicitor. The POA can be worded very specifically so as to only grant rights related to this purchase, and only within a specified time-frame.

Thanks for the advice


Offer should come through today and all the searches have been returned so next step is booking in to sit down with the solicitor and discuss