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Stage One: Case Opened Solicitor Instructed
This is the date the client accepts our quotation or gives us firm instructions to act.
Stage Two: Date deeds Requested
This is the date we request the title document of the client's property from whomever is holding them i.e. from the client or their solicitor if there is no mortgage affecting the property
Solicitor:
- Requests Title deeds from the clients current lender
- Requests a redemption figure from the clients lender
Stage Three: Date deeds Received
This is the date the Title deeds come in from the existing lender, client or solicitor who has been holding them for the client.
Solicitor :
- Conducts an inspection of the title documents to confirm that there are no title Issues or other queries that need resolved before the mortgage monies can be requested from the lender
- Requests EJO and Bankruptcy searches against the client
- Requests statutory charges searches and title search against the property
Stage Four: mortgage offer Received
This is the date that we receive the mortgage offer from the client's new lender.
Solicitor:
- Arranges for the client to sign the mortgage deeds
- Confirms a completion date with the client
- Requests an updated redemption figure from the existing lender, if necessary
Stage Five: Case Completed
This is the date the remortgage completes.
Solicitor:
- Requests all the searches requested in stage three (i.e. EJO and Bankruptcy searches and statutory charges searches and title search) have now been received and the solicitor is satisfied that they are clear.
- Advises the client of the amounts to be paid to the existing lender and any balance monies that will be paid to the client. If monies are required from the client in addition to the mortgage monies in order to clear the existing mortgage, these will be required prior to completion.
- Sends a cheque to the existing lender to clear the mortgage affecting the premises.
- Sends a cheque to the client in respect of balance monies payable to them, if applicable.
- Attends to registration of the new charge after completion