HOW DO I APPLY FOR A MORTGAGE
Well you start with a pen, a piece of paper and a nice cup of of coffee. And then relax as we will be doing most of the work for you!
The initial step is to think about:
- What kind of home do I want?
- How much is it likely to cost?
- What is my monthly budget?
The next step is to talk to us at Easyswitch Mortgages so that we can establish if you are in the right ball park. Although we do try, we can’t work miracles but we do promise to be honest with you. If we think you are stretching yourself too far, we will tell you!
But lets assume all is good here. The next to stage will be to obtain a Decision In Principle for you. Once we have organised this, you should have a nice shiny Mortgage Certificate to waive at the Estate Agent confirming that you have the means to buy to the property.
The ball is very much now in your court. You need to arrange as many viewings as possible to make sure you find your dream home. Be careful not to let your heart completely rule you head (although of course this is part of the fun in buying a home) and if we think you are making a really bad decision we will tell you. Once you have decided on the home for you, you need to agree the price through the Estate Agent.
Now the serious stuff begins and this is where magic happens. Nobody (in their right mind) wants to borrow a large sum of money but unless you have cash to buy it outright, you’ll have no choice. So our job is to do all we can to make the the dream come true. And the dream is to buy your home.
The next stage is to make the full application and instruct your solicitor. Again, we will be dealing with the mortgage application for you so we will need to set some time aside to get the relevant information from. You will also need to get all your paperwork together so that we are completely up to date and prepared. At this point you may need to pay a mortgage valuation fee, but of course we will go through all the fees and terms of the mortgage with you so that there are no nasty surprises.
Once the lender has completed all their checks and the mortgage valuation has been received they will issue the mortgage offer, which will be sent you, ourselves and your solicitor. Thereafter you are very much in the hands of your solicitor who will be carrying all the necessary checks to make sure the property is suitable for you.