HOD Mortgage|Centre
– Independent Mortgage Providers
Loan Time Table
As soon as you have paid the booking deposit on your desired property
the following chain of events will be activated:
- Your solicitor will receive contracts for sale including the
title documents from the vendor’s solicitor
- When you solicitor is satisfied with the title and contract
details he/she will then arrange for you to sign all necessary
legal documents
- The full 10% deposit less booking deposit is paid over by your
solicitor to the vendor’s solicitor along with the initial
contracts
- The contract is now irrevocable and your sale will arrange to
draw down closing funds from your lending institution at the agreed
closing date
- There is normally a period of approx 4 weeks to close the deal
from booking deposit to loan cheque drawdown.
With regard to your mortgage application and approval it is important
that you get an Approval in Principle as soon as you are thinking
of purchasing as the loan process timetable is generally as follows:
- Approval in Principle – generally within 24 hours
- Full Mortgage Application to be completed, including address/photo
ID, confirmation of income, P60’s / pay slips / Salary Certificate,
Current Account Bank Statements (not internet)
- Life Cover and buildings insurance to be arranged before the
closing and submitted to your lender
- Cheque Issue – your solicitor requires to give5 working
days notice that you will require loan cheque (cheque requisition)
- Your loan repayments commence generally a month after the loan
cheque has been issued.
Contact
HOD Mortgage|Centre
49 O’Connell Street,
Limerick.
Tel: 061-310050
Fax: 061-463050
eMail: tomclarke@hod.ie
HOD Mortgage|Centre :: Pre-Enquiry
Application Form
Mortgage Types :: Stamp
Duty :: Loan Time Table
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