Immediately following settlement we email the lender, the broker, the borrower’s solicitor confirming it has taken place.
We then write a letter to borrower’s solicitor enclosing an epitome of mortgage (‘Epitome’). If there is monthly interest to be paid, the amount and date of the first instalment is included in the Epitome. If applicable, the Epitome provides the lender’s bank account details.
We insert the advance and expiry date into the security documents and attach a copy of the documents with these dates inserted to the letter sent to the borrower’s solicitor.
If we are servicing the loan we set the loan up in The Mortgage Office, the cloud based mortgage servicing software we use.
If the loan is a construction facility we can arrange and document the payment of progress claims if so required.
If the loan is a syndicate we coordinate the voting, document and execute the commercial decisions of the syndicate.
Our Advance Process
Step 4 – Certification as to Title
Step 5 – Settlement
Step 6 – Post Settlement