Mortgage switch

KilOit

We're in the process of switching our mortgage providers when covid came along.
our application is with the underwriters at the minute and not sure if the whole thing will proceed.
Question is the solicitor is looking to sign the letter of authority for them to get the deeds from our current bank. Point is i don't want to pay for something that might not even go ahead if the new bank doesn't lend with the current crisis.

should i just wait till the bank gives approval before i sign anything with solicitor?

Q&A

KilOit wrote: »

We're in the process of switching our mortgage providers when covid came along.
our application is with the underwriters at the minute and not sure if the whole thing will proceed.
Question is the solicitor is looking to sign the letter of authority for them to get the deeds from our current bank. Point is i don't want to pay for something that might not even go ahead if the new bank doesn't lend with the current crisis.

should i just wait till the bank gives approval before i sign anything with solicitor?

Sounds like you're solicitor is just trying to be efficient and have all papers to hand. However, are you aware of any good reasons why he might be trying to push this through quickly?

Presuming there aren't any time-sensitive reasons I'd wait. Like you say no point incurring a cost unnecessarily.... For the weekend that's in it I wouldn't count my chickens before that hatch