Mortgage

Pick examples of what you would report to Lender

• Gift

• Sale under 6 months

• Source of funds

• Errors or amendments on offer

• Amount of deposit

What do we send to the client when the mortgage offer is received?

• Mortgage Report

• Deed of Consent and Postponement

• Financial Statement

• Mortgage Deed

• Copy Mortgage Offer

What is the CML Handbook?

• Lender's requirements for a conveyancing transaction

• Lender specific instructions regarding certain title defects

• Conveyancers instructions

• Client instructions for a transaction

What is MCD?

• Mortgage Credit Directive

• Mortgage Clause Debit

• Management Clause Deed

• The Reflection period expiry date

What considerations need to be made regarding the reflection period?

• None its the clients problem

• Whether it crosses with the completion date?

• Is the client happy to waive it?

• It would have expired so no considerations

What screens do you consult when prepping for the Mortgage Care Call?

• History

• Searches

• Mortgages

• Case Notes

• Manual Notes

What instructions do you give to a client regarding signing a Mortgage Deed?

• That the Deed is legally binding

• Please sign in the correct place

• Do Not Date

• Do Not Amend

• Your signature must be witnessed by an independent adult witness who should also sign and complete their name and address

What type of survey uses the traffic light system?

• Valuation

• Home Buyers

• Full Structural

What is the Panel Number for a Lender?

• A unique number which identifies the Lender

• A unique number which confirms we are approved to act for the Lender

• A random number issued by the Lender for each Mortgage

• The number shown on the Mortgage Deed