WorksheetsMortgage
Total questions: 9
Worksheet time: 7mins
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?
Lenders requirements for a conveyancing transaction
Lender specific instructions regarding certain title defects
Conveyancers instructions
Clients instructions for a transaction
What is the 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 the line 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 types of survey uses the traffic light system?
Valuation
Home buyers
Full structural
What instructions do we give the 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 is a 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
