House purchase: mechanics of funds transfer

Hello all,

I have a question about the transfer of funds when purchasing a property, as follows:

Let's say the purchase is being part-financed by a mortgage, with the balance from the purchaser's savings.

Is it the case that:

1. the bank issues the mortgage cheque to the purchaser's Solicitor;
2. the purchaser writes a cheque for the balance of the purchase price to their Solicitor?

or

1. the purchaser makes their funds available to the bank;
2. the bank issues a single cheque for the entire purchase amount to the purchaser's Solicitor?

...or some other procedure?

Thanks in advance...

Balthazar
 
its the first one

I was confused too and the bank asked me why i moved so much money into my account at once

The solicitor will want 10% on signing and the balance closer to the draw down date
 
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