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 😀