Mortgage deed and exchange

Simba-ali34

Hello.

So I have left a message with my solicitor who is away today but I am abit confused.

I have received a mortgage offer for a property which is good news! My solicitor has also sent the mortgage deed for signing. I have to sign this and post it back but a witness must sign it. Can it be the same witness for me and my partner? can they just sign it twice next to our names?

Also I am abit confused with which order things should happen. Once I post the deed back is that acceptance of the mortgage or will I need to sign something else? Also when does exchange of contracts happen?

Regards

Lilla_D

Hi, yes, once you sign the mortgage deed and send it back, that's your acceptance of the mortgage offer.
The exchange of contracts comes after not only the mortgage side is sorted, but also all the legal aspects including searches, enquiries and any related paperwork. I think you can use the same witness, but you may want to double check it.

kingstreet

Once the documentation is all back and acceptable, your solicitor will ask you for your preferred completion dates. The other solicitors in the chain will do the same and once everyone is agreed on a date, contracts can be exchanged and the agreed completion date becomes legally binding on all parties.

The same witness is fine.