What is a lender’s COT (Certificate of Title).
- August 17, 2015
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This only applies to the buyer, and only if they have a mortgage. It is the final document which their solicitor can sign off to request the mortgage funds, but only if the buyer can proof to the lender solicitor that they have complied (discharged) all their obligations under their lender’s mortgage conditions set out in the offer and in the CML handbook. Until they discharge these, their solicitor is not allowed to order the funds by completing the Certificate of Title (COT). From the date of receipt of the COT, Lender’s normally ask that they be given 5 working to release their funds to the buyer solicitors in order to allow the buyer to complete.