Understanding The Mortgage Process
Talk to a mortgage specialistMeet your local, qualified adviser at a mutually convenient time and place o they can understand your individual needs and circumstances and to explain the value that they can add.
Calculate how much you can borrowComplete a borrowing check to understand the amount required, ability to repay, level of deposit, amount of fees and associated costs budgeted for prior to undertaking a credit search and obtaining a Decision in Principle.
Make an offerWith a Decision in Principle supporting you, make an offer on your home / investment property and achieve acceptance of your offer.
Select the right type of mortgageA mortgage specialist will be able recommend the most appropriate mortgage to you after thorough research. The mortgage application can then be submitted to the lender for review.
Mortgage will be underwrittenThe lender will carry out validation checks on the property and on your income and expenditure. More information may be required as a result to satisfy lending requirements.
Valuation to be instructedThis will be either for mortgage purpose only or a full structural survey.
Receive formal mortgage offerOnce the lender has made all of their checks, they will send a copy of your formal mortgage offer.
Exchange of legal contractsAt this stage you should ensure that your required personal protection provisions are in place and that property insurance is arranged.
Completion of legal contracts and get the keys!On competition day, your seller gets the money and you get the keys to your new home.
Make your first paymentYour first payment will generally be more than your normal monthly payment. This is because it’ll include interest for the days between the date you moved in and the end of that month, plus your standard monthly payment for the month after
Securing a mortgage is a serious business. It’s a crowded, often confusing market in which you can’t always be sure that you’re being presented with a fair, impartial deal.
We’ve been offering mortgages and life insurance to our customers for almost 6 years. Our advisors have worked for an average of 20 years in financial services and property. Around 80% of our business comes from personal recommendations. Our customers come back time and time again to purchase their next property or to re-mortgage.
Perhaps this is because of our friendly independent, honest advice which clients trust us for. Impartiality is central to our values - we are not linked to any particular lenders or to commission-led offers. You can be sure that the mortgage we recommend for you will be the best one that the market has to offer, regardless of which institution it’s from.
We know that purchasing a property can be time-consuming and demanding. Whether you need an evening or weekend appointment, we can accommodate you.
Our aim is to deliver the best financial plan for you and your circumstances. Our reputation depends on it.
Get in touch to find out more 01285 239 486
Your property may be repossessed if you do not keep up repayments on your mortgage.