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?

• 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