We applied for a mortgage with Halifax last Wednesday and got our offer this afternoon. Just reading through it. Does anyone know what this means:
[FONT=Arial][SIZE=3]You have declared an intention to repay some or all of your
outstanding credit commitments. The mortgage advance has been assessed on this basis and it is your responsibility to ensure that these commitments are repaid. Completion takes place on the condition that such repayment takes place.
Except where such a mortgage is an outstanding credit commitment you have declared an intention to repay, we agree that any existingmortgage you have on any other property does not have to be repaid when you take out this mortgage
[FONT=Arial][SIZE=3]You have declared an intention to repay some or all of your
outstanding credit commitments. The mortgage advance has been assessed on this basis and it is your responsibility to ensure that these commitments are repaid. Completion takes place on the condition that such repayment takes place.
Except where such a mortgage is an outstanding credit commitment you have declared an intention to repay, we agree that any existingmortgage you have on any other property does not have to be repaid when you take out this mortgage