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What happens next?

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Step 1 Issuing the mortgage offer

Once your mortgage has been approved we will send you 2 copies of our formal mortgage offer, which is a written document confirming the details of the mortgage we are offering you. At the same time we will send instructions to your solicitor giving full details of your mortgage offer, our Terms and Conditions and all necessary documentation.

What you need to do

All applicants should check the mortgage offer then, if acceptable, sign and date one copy and return it to us. The reference number quoted on the offer is your unique mortgage account number and this should be quoted if you have any queries at any time. Please retain your copy of the offer in a safe place.

Step 2 Protecting your home

You will need to ensure that you have all necessary protections in place for your new mortgage. It is essential that you have your property insured, either through the Society or you may arrange your buildings insurance elsewhere.

It is also important to consider protecting your life and income to ensure that your home is protected in the event or death or sickness. The Society is able to provide competitive quotations for all of these areas before and after you complete your mortgage.

Step 3 What the Solicitor does

Your solicitor will liaise with the seller’s solicitor to prepare the contract of sale/purchase. Your solicitor will also explain the legal implications to you before you sign any documentation, including the Legal Mortgage, and then make all the arrangements to transfer the property into your name. The contracts of sale/purchase will be ‘exchanged’ between your solicitor and the seller’s solicitor. This is one of the key documents the solicitor will go through with you to ensure all details are correct and that you agree with it.

You need to ensure that you speak with your solicitor and that you are aware of any and all fees that may be charged for the purchase/sale.

Step 4 Agreeing the completion date

The completion date is the day when you become the new owners of the property. Your solicitor will agree the day with you and the seller’s solicitor. The solicitor will contact us and we will ensure that, providing we have all the necessary documentation and all mortgage conditions in the offer have been met, the mortgage money is sent to your solicitor.

You should arrange with your solicitor for any additional money required for the purchase to be sent in
time for completion.

You should also ensure that you have arranged for the removals van to be there on the day and all meter readings of utilities are organised. Don’t forget to re-direct your post and transfer your telephone number if appropriate.