The Purchase Journey

What document do we need for the purchase file to go live?

• Starter Form

• SDLT Declaration

• Source of Funds Form

• Sales Memorandum

What information is contained in a sales memorandum?

• Floorplan

• Solicitors details

• Photos

• Price

What are the ways clients typically fund a purchase?

• Sale or remortgage

• Mortgage

• Lottery win

• Gift/Savings/Investment/inheritance

Who can a buyer consult regarding obtaining a mortgage?

• IFA

• Mortgage Broker

• Bank

• Accountant

How do we check with client if they have a Mortgage In Principle instead of a mortgage?

• Ask how many pages is the document?

• Ask if they have passed their credit check?

• Ask if valuation done?

• Ask what the document states?

Which survey uses the traffic light system?

• Valuation

• Full Structural

• Homes Buyers report

How long after the Mortgage in Principle does the valuation take place?

• 5 days

• 2 weeks

• 1 day

• 7 days

What 2 additional documents are sent with the Purchase Starter Pack?

• Source of Funds Form

• First Time Buyer Declaration

• Stamp Duty Declaration

• Conflict letter

What 3 searches do mortgage lenders require?

• Local, Drainage, Environmental

• Environmental, Flood and Coal

• Drainage, Environmental and Coal

• Flood, Local and Coal

How long after we have requested contract papers is the chase task scheduled for CST?

• 7 working days

• 5 working days

• 2 Weeks

• 2 working days