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About Us |
Mortgages
What Happens After I Apply |
Exchanging Contracts
Once the contracts are signed by both the seller and the buyer, the deal becomes legally binding. These contracts will be exchanged by the legal representatives of both parties, once all the checks and procedures have been completed by the conveyancer or solicitor. You'll pay your deposit at this stage, usually 10% or more. You should make sure that you are happy with everything before the contracts are signed and exchanged - large costs are suffered if either party pull out of the deal at this stage.
Completion
Once completion arrives, you have finally become the owner of your new home! Your solicitor or conveyancer will close the purchase and you can then move in. The remaining balance of the house is paid to the seller and then you receive the keys.
