Buyer's mortgage company

G_M

Very strange. Personally i would not have done 2). I'd have used my conveyancer. However.


4) ?? Verify what??? Oh! 6)! Purchase price - as if your existing mortgage lender would have known this!


The solicitor acting for them (who would almost certainly also be acting for the buyer) would know the purchase price........ makes very little sense to me.

Surrey_EA

pass it to the estate agent

G_M wrote: »

Very strange. Personally i would not have done 2). I'd have used my conveyancer. However.


4) ?? Verify what??? Oh! 6)! Purchase price - as if your existing mortgage lender would have known this!


The solicitor acting for them (who would almost certainly also be acting for the buyer) would know the purchase price........ makes very little sense to me.

I agree, very strange.

But why not pass it to the estate agent? This is exactly the part of the process that is dealt with by the estate agent, rather than the solicitor/conveyancer.

davidmcn

Unencumbered properties are the types which tend to attract mortgage fraud (as you don't have the inconvenience of having to pay off an existing lender), so I suspect it was an exercise in checking that the genuine proprietors are aware of the transaction. In which case the lenders possibly wouldn't take the word of agents or solicitors, in case they are part of the conspiracy.

But as I said, I haven't heard of this being done before, so I don't think it is (yet) normal practice.

kingstreet

What is the name of this 'buy to let company' purchasing your home?

What is the name of the lender from which this letter was sent?