The mortgage offer has been signed, so what’s next?
Have you just signed the mortgage offer? Well, congratulations! So, what’s next?
- The lender will process the mortgage offer and inform the notary that the money can be requested.
- The notary will then draw up the draft of the mortgage deed, the draft of the deed of conveyance (when purchasing a home) and the bill of settlement. You will usually receive the documents within one week before the date of transfer. Of course, you can also contact the notary yourself to confirm and prepare for the appointment.
Good to know: when taking out a mortgage loan, you give the lender the right of mortgage on the property. This means that if, for example, you do not pay the interest and/or repayment, the lender can repossess/sell the property. Of course, we’re assuming that’s not the case – but it’s always good to know what kind of commitment you’re entering into.