TSB mortgage offer, need to payment outstanding debts, but when?

mrsmortgage

We just got are mortgage offer in and we're looking to complete in 4 weeks. I've already asked the broker but just got a vague answer. In the mortgage agreement it says we need to pay "all or some" not specifying which debts nor when. Shall I do it ASAP or closer to completion? Also, how do I prove they've been paid off?

Thrugelmir

Provide the solicitor with updated statements of account. 
Four weeks is a short timeframe in which to complete. Is this realistic? 

mrsmortgage

Yes, as all searches are almost complete. We started the process about 4 weeks ago. 

Thrugelmir

Vendor responded to all enquiries? 

amnblog

On or before completion. Your Solicitor may ask for evidence of clearance of debt as per the offer - most don’t.

mrsmortgage

Yes, u don't think mine will, he seems fairly lax about everything. Thank you! 

StephanieW

We sorted most of our last minute before completing, one of our credit cards we paid off about 5 days before completion, our solicitor said as long as it was done before handing keys over it was fine - nobody checked. 

mrsmortgage

Thanks Stephanie, it looks like most likely nobody will check. We will pay them off (as it makes most sense) but I'm so surprised nobody is asking for proof of anything. 

Retired_Mortgage_Adviser

Any time before completion.

In practice, no one checks. I've never had a transaction in which the solicitor asked for proof of clearing debt prior to completion, but it may be possible. Your credit files don't update in real time, so a pre-completion credit check would not necessarily reflect any recently cleared debt anyway.

I've even had clients who "forgot" to do so even though I reminded them.