Howes Percival Solicitors

1.Instructions received

We receive instructions from either the introducer or the client together with a copy of the offer of sale (Section 125 notice) and fee authorities for any fee payable to the introducer.

2.Obtain title and transfer documents

We inform the seller that we are acting, and send initial letters to the introducer and the client. We also request transfer and title documents from the seller, and make regular telephone calls to the seller chasing progress of the documents.

3.Report to client and date set

Once we have received documents from the seller and the mortgage offer we will write to the client with a detailed report on the title and mortgage. Enclosed with the letter will be the transfer / lease, mortgage deed and any other relevant document(s) to sign (for example any undertakings the lender may require). We inform the client that as soon as the documents are correctly signed and back with us, then we will be able to agree a completion date, having also checked that the mortgage lender is in a position to proceed.

We will let the introducer know by letter / e-mail / fax / phone call (whichever method you prefer) when we have sent the documents to the client, agreed a completion date and also have anything that we may need in order to complete.

We then request funds from the new mortgage lender.

4.Pre completion

Our specially trained and experienced staff see the matter through to completion, making sure the lender has all they need to release the advance funds, checking all payments due to the seller and confirming to the client the amount of funds that will be sent to them if they are borrowing additional money for home improvements.

5.Completion

We complete! All funds are distributed within three working days (to allow for the seller confirming completion). This ensures that the client receives additional funds raised for home improvements and introducer receives their fee (and any other payment such as ASU) as quickly as possible. The client will also be sent a completion statement showing how the balance due to them was calculated.