Finalising the mortgage, exchange of contracts & completion

First time buyers finalising mortgage

If your mortgage application is successful, the lender will provide you with a formal offer. Once accepted, the broker will finalise and complete the setup of the mortgage. Normally this will come with an arrangement fee payable to both the broker and lender. 

You’ll then exchange contracts with the seller to complete the sale. You should take time with your solicitor and review the contract together to ensure all the details are correct. Once signed, you and the seller are both legally obliged to go through with the sale. You will also need to transfer your deposit to your solicitor. 

The remaining amount will be transferred from the mortgage provider to your solicitor, which is then transferred to the seller’s solicitor along with your deposit. Once this is done, the solicitor will register the sale w

Once the solicitor's fees are also paid, you’ve done it… you’ve completed the purchase and you’ve become a home-owner! 

You’ll pick up the keys and be moving into your home on the completion date 😀

Visit the Proportunity website to continue your home-buying journey today.

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SSM One Limited (trading as Proportunity Loans) is an intermediary only lender authorised and regulated by the Financial Conduct Authority (with firm reference number 716565). SSM One Limited is registered in the UK at Companies House with reference number 09273700, with its registered office at GG 405, Metal Box Factory, 30 Great Guildford St, London SE1 0HS, United Kingdom.
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