apply for a
How to get started…
The first thing that we will need to do is find out a bit about you, your current situation and your future plans. We can do this either face to face, over the phone or online.
The next step is to get some documentation from you. We will need to see proof of your income and expenditure, so we will ask you to upload documents directly to our secure online portal. We understand that much of the documentation that we will need to process your mortgage is confidential, so we’ve made it as easy as possible for you to get your documents to us quickly, easily and above all, securely.
Once we have an outline of the type of mortgage you will need, the next stage will be to apply for a Decision in Principle. This means that we will be submitting a partial mortgage application form, and the lender will check your application to make it meets their affordability calculations. They will also check your credit file. The lender should then confirm whether they are happy to lend you the amount you need to purchase the kind of property you’re looking for.
Now you can go and find your dream home, safe in the knowledge that your finances are all sorted!
Once you have found a property and agreed the purchase price, we need to agree the full details of the mortgage we are recommending to you and make the full application. At this point, we will top and tail the documents we might need from you so that we can secure a swift mortgage offer. There are a number of other things you’ll need to consider at this point in the process.
You can choose which kind of survey you want to be carried out on your new property. The most common ones are:
1. A basic valuation for mortgage purposes
2. A Home Condition report
3. A Homebuyers report
4. A full building survey
The basic valuation is purely for mortgage purposes and is often free of charge. The lender simply asks the surveyor to recommend the property for mortgage purposes (ie, give them their professional assurance that the property is good security for the money they are lending you).
However, please be aware that this report is done for the lender and not for you. If you subsequently found a problem with the property, you would have no recourse with the surveyor or lender.
If you would like a more detailed survey, we recommend that that you arrange this via an expert inthis field. The Royal Institute of Surveyors is often the best place to start, as it will provide you with loads of useful information on the range of surveys available. Check them out here .
Once the mortgage is agreed, we need to discuss insuring you and your property. You may need some or all of the following:
– Home insurance
– Life insurance
– Critical Illness insurance
– Income protection (to cover your income if you fall ill for a longer period of time and cannot work)
If you would like to discuss your insurance options with a member of our team, please let us know and we’ll happily assess your needs.
Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income.
Want expert mortgage advice?
contact us today 01245 860866