Solicitors supply mortgage details for Conveyancing in Northampton

Everyone planning to buy a house will need to secure funding for it. Few people have sufficient savings to pay the whole purchase price by themselves, so most of the time mortgages are the only option. This was the case with a recent Conveyancing in Northampton, on which Fridaysmove’s approved lawyer Katie Clark advised Mr and Mrs L. The freehold home, valued at around £185k, is located on Norton Crescent, Towcester, Northampton, NN12.

Towcester is a small town south-west of Northampton which dates back to the Roman era. It has expanded rapidly in recent years and there are plans to build 3,300 more houses, which will boost Conveyancing in Northampton. The town is well supplied with shopping facilities and an A5 bypass is planned to be build in the near future to avoid congestion.

Borrowers' details need to be checked for Conveyancing in Northampton

With banks being cautious in recent years due to the recession and consequently asking for unusually high deposits on mortgages, Mr and Mrs L had to save up £30k in order to buy their dream house. Once they had found their property and agreed with the seller, Katie had to provide several documents to the bank in order for them to give the green light for this Conveyancing in Northampton.

Lenders will want to make sure that all the files are in order to minimise the risk of fraud. Sometimes there are minor variations between the clients’ names in the sale contract and the names on the mortgage papers. This often has innocent reasons, such as omitting a middle name in one instance, but understandable banks want to be on the same side. The sellers also want to satisfy themselves that there are no problems as they may otherwise be liable to the bank.

For this Conveyancing in Northampton, Katie therefore had to provide copies of the clients’ passports to the sellers’ solicitors and the lender. Mr and Mrs L were impressed with Katie’s quick and reliable work which allowed them to move into their new Towcester home in February 2010. The estate agent for this transaction was Jackie Oliver & Co of 148 Watling Street East, Towcester, Northamptonshire, NN12 6DB.