I need my mind putting at rest

Markyjoe

Hey everyone

Well after what seems an lifetime we are at the stage we’re we have signed the contract and have had the hard credit checks done by Halifax. After what seen loads of messing around with our solicitors all the paperwork is done at my side and the sellers.

We had the credit search’s done on the 16th but after chasing our solictorsntoday they still haven’t heard from the Halifax.
Nothings changed since we have the Mortage in principle ect but what’s the chances of it all going belly up at this stage ?

Also the seller wanted to complete this coming Monday but as of yet we still have not been requested to send our deposit. Reckon it’s an big chance that things will happen Monday

Cheers:A

kingstreet

Mortgage offer issued?

Markyjoe

Yer we have signed the Mortage deeds ect far as I!!!8217;m aware our solicitors just kept saying to us they have now reported us to our lender.

To be honest they have been so unhelpfull

kingstreet

So a mortgage offer has been issued, you've signed the deed and it sounds like the solicitor has reported something to the lender.

The solicitor will need a reply to the issue concerned, will need to obtain your deposit from you, obtain your preferred completion date and once all parties in the chain have a agreed completion date, contracts can then be exchanged.

Your solicitor should ask you for agreement before exchanging contracts.

Markyjoe

So does it sound like there has been an problem as everything seemed to have been going ok but like I said before they haven’t been to keen to talk to us. We are just awaiting for Halifax to get back to us today with what I’m hoping is the Mortage money and then I can send the depo over

kingstreet

If the solicitor has submitted the certificate of title (COT), that is the order for the funds to be transferred to them on DD/MM/YYYY.

However, I'd be surprised if that's been done before your deposit is in their hands.

"Reporting to the lender" could be used to describe the above, or it could be the need to refer a particular issue from the title or from a search to ensure lender acceptance before submitting the COT.

Markyjoe

Ahh I understand. Thanks for the help

Markyjoe

Just had this from my solicitor as I asked them direct and looks like you were correct

I we report to you and your lender on the title of the property, once they confirm they are happy with the same information provided to you, we can then discuss completion dates and we can then request the mortgage advance from them.