Hi guys,

Would like to ask, what documents do bank get from lawyer/solicitor to process loan disbursement / drawdown?

Thank you

Signed SnP, Loan Agreement, Undertaking Letter from Seller Bank and Title Search ... subsale.

Signed SnP, LACA and Architect Certification ... developer.

This post has been edited by mini orchard: Jun 5 2021, 09:44 AM

Thanks!
What about documents like Deeds of receipt and reassignment? MOT? Redemption statement?
For subsale case.

This post has been edited by Michaelbyz23: Jun 5 2021, 02:12 PM

All documents are handed by the bank's lawyer and he will advise the bank accordingly when to release the money.

Is mostly after the completion that documents are handed to the bank for safe keeping, ... eg the title document (mot and charged endorsed) loan agreement, snp, assignment (if applicable).

Different banks have different work procedure requirements. Some will wait for everything to complete while others need as when completed.

Ultimately the lawyer is responsible, otherwise he will blacklisted and be sued if a loss happened.