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Lender Info


Lender Info


Lenders & Mortgages

Lenders & Mortgages


If you use a lender or bank to help buy your property brings its own unique set of rules that you must be aware of. The first thing you must be aware of is that your appointed lawyers most probably also act for your bank. Is this an issue? Well it can in many cases complicate matters, for instance

Your bank or lender will ask your lawyer to confirm many areas. Despite the fact that your bank or lender has stated that they will provide funding, they ask your lawyer to ensure other details before sending the funds. For example, but not exclusive….

1. If your financial situation changes

2. If the purchase price changes

3. If any party to the purchase changes.

4. If you are receiving any of your deposit from another person.

5. If you have deviated from any of your agreements or circumstances that you discussed with your bank.

6. If ALL the paperwork for the property is in place (no exceptions).

7. If ALL the searches have been completed and are all ok.

8. Your identity has been confirmed.

9. And finally and possibility that all the conditions of the loan including all the conditions of the Council of Mortgage Lenders Handbook(CML) have been adhered to.




If ANY issue arises your lawyer must report this to your lender and then the lender will decide if they still intend to loan the funds. The further problem is that in some cases reaching a decision from many lender can take several weeks. This again can cause massive stress and pressure for both you and your lawyers who are chasing, but ultimately waiting on an answer from the lenders.




In 3 Quick Steps!