When to have a new house/life policy in place

[monia]

Situation.

I am buying the house we are living off my ex partner. In order to do so I will need to re-mortgage the house. I have received the loan offer but I need to know when to put in place the new house/life policy.

Do I need to have both policies ready when he signs the tranfer of the deeds under my name? Like the day before?
Kind regards
Monia

 

[mf1]

You need both in place to draw down the loan funds - the loan cheque will not issue until the outstanding issues are dealt with. You won't ( or you should'nt) get the signed Tranfer until the money is available.

So you need everything in place at least one week ( and preferably longer) before you intend to do the formal completion.

mf