15/09/2023
🧐 At Haven Home Loans, we understand your finances can be a bit of a minefield but our friendly, experienced team are here to discuss and guide you through all your financial matters.
🤓This week’s ‘Money Matters’: What’s the Difference between Exchange & Completion?
✔️ Exchange is like the “contractual handshake” of the property transaction. At this stage, the buyer & seller sign legally binding contracts.
They agree on essential details like the price, completion date, any conditions of the sale & pay a deposit. Once exchanged, the deal is legally binding, & neither party can pull out without severe consequences.
✔️ Completion, however, occurs after contracts have been exchanged & all remaining funds are transferred from the buyer’s solicitor to the seller’s solicitor.
The ownership of the property officially changes hands, & the buyer gets the keys to their new home.
👩🏼💻 For more tips or advice on the whole buying process, get in touch with our team of experts today & see how we can help get you moving.
📧 [email protected]
☎️ 01273 514501
🌐 for more info, https://www.havenhomeloans.co.uk/
👇🏼Feel free to comment below if you have a topic you would like us to cover in future posts.
❕Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage.❕
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