When should the acknowledgement of the suitability assessment be obtained?

The acknowledgement of the suitability assessment should be obtained at least one business day before committing to the mortgage. This timing is crucial as it allows the borrower adequate opportunity to review the results of the suitability assessment and understand how the mortgage aligns with their financial situation and long-term goals.

By obtaining this acknowledgement one business day prior to commitment, it ensures that all parties have sufficient time to address any questions or concerns that may arise from the assessment, allowing for an informed decision to be made by the borrower. This practice also aligns with regulatory standards aimed at protecting consumers by ensuring they are fully aware of the implications of taking on a mortgage, which promotes responsible lending and borrowing practices.

While other options may seem plausible, they do not provide the necessary lead time for the borrower to engage thoughtfully with the assessment results prior to making a significant financial commitment.