“Your Mortgage Documents & Conditions:
Receiving all your acceptable documents from you, upfront and on time, is the best thing you can do to ensure that your mortgage closes on time. The number of documents that lenders require can sometime seem overwhelming, but we will always ask you for as few as possible documents. The lists below contain the mortgage documents and conditions and the dates on which we require the acceptable documents from all Applicants, Co-applicants and/or Guarantors on the mortgage application.
File Completion Date: This is a critical date and it is set at 10 business days before the Closing or Funding date of your mortgage. It is the date on which your mortgage application has to be 100% complete to ensure your mortgage closes on time. Your file is considered complete once the lender has accepted all documentation, waived all mortgage conditions and issued closing instructions to your solicitor.
The date on which your mortgage must fund. Missing this date on a Purchase transaction could incur you significant financial penalties, so we want to avoid it!”
“Outstanding Documents (Documents still outstanding and/or required from you)” “Your Client Administrator requires these documents from you on the dates shown. The dates shown are the dates on which the acceptable documents were required from you the very first time. Although we try our best to provide you with a complete documents list, up-front, circumstances might require us to request further documents from you later in the mortgage process. Your lender also reserves the sole right to request further documents from you. If the document remains on the list, it means that we still require the documents”
Accepted Documents (Documents received and accepted) The Accepted Documents list contains documents that you have sent and have been accepted by the lender. The lender has the right to request further documents at their sole discretion.