It’s well known that moving house is one of the most stressful events in life. That’s why we work closely with our clients to ensure that finding the right mortgage is one thing they don’t need to worry about…
- Establish your circumstances and what you want/need – we will ascertain what your needs and objectives are by completing a “fact find” questionnaire and asking about your plans and priorities. It is a common mistake to focus purely on the mortgage rate and fees. Instead we will also ask if you have any plans to move home in the future, whether you want to overpay your mortgage, how you feel about fixing your mortgage rate and so on. At this stage we can highlight key points that could help or hinder a potential mortgage application.
- Provide documents – either before or after the initial fact find meeting, we will ask you to provide documentation to confirm some hard facts, such as your identity, earnings and outgoings. We will provide you with a list of key documents before your meeting so you can prepare.
- Research – when we have the information and documentation we need, we can start our research. We use software to compare dozens of mortgage lenders and hundreds of mortgage products, with a focus on getting the features you want at the best possible cost. We will then provide you with a provisional recommendation, which will set out key points such as deposit required, terms and potential costs.
- This is the fun part – the house hunting! Now you know how much you might be able to borrow, you can start looking at properties and consider making an offer. If you find a suitable house, just let us know. You will also need to appoint a solicitor who will handle the legal side of the purchase.
- Apply – we will review the provisional recommendation to ensure it fits with the property you have found and, assuming it does, complete your mortgage application. We will then keep you informed about the progress of your application and any additional information the lender needs. If your application is accepted you will get a mortgage offer letter, which we will review with you to ensure you are satisfied. If your application is declined we will find out why and then consider if applying to another lender might be appropriate.
When should you start the process?
Every client is different. Some come to us when they already have a property in mind and perhaps have also agreed a price, which is fine, but it is best to speak to a mortgage adviser as early in the process as possible.
This allows you to get a realistic idea of what you can afford and timescales, which then reduces stress and confusion.
We offer a free initial meeting with our mortgage adviser. This allows you to find out more about our company and your options, without incurring any costs.
Some home buyers will visit their bank or building society instead of a mortgage adviser. You should bear in mind that banks and building societies only offer their own mortgage products, but this might not be the best possible rate, lowest fees or have the features you need.
How to book an appointment
Due to the current Covid-19 restrictions, our offices are not open for face-to-face meetings, but we’re still fully functional, either through video calls or over the phone.