What does 'Authority to Exchange / Conclude Missives' mean?

Once the buyer's conveyancer has checked the mortgage offer to ensure that the purchase price and available Help to Buy funds are consistent with the Authority to Proceed, they will need to request permission to exchange contracts from the Help to Buy agent. If approval is given then the Help to Buy agent will send an Authority to Exchange (ATE) to the buyer's conveyancer, typically this happens within three working days of the request being submitted.

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