Do you find the mortgage process confusing?  Let us help!

Do you know how much you can borrow and what documents you need to provide for an application?

Are you unsure of the steps from when you first view your dream home to actually moving in?

Our step-by-step guide

1. Fact Find

 

Client Fact find to be completed, this is where you provide information about your employment, income, expenditure, credit commitments and some other personal details.

 

 2. Documentation

 

You will need to provide a list of documents before any application can be made- typically 3 months bank statements, evidence of income, ID and proof of address along with evidence of deposit.

 

 3. Affordability

 

Once the fact find is complete and documents provided we will conduct an Affordability check and full case assessment in order to let you know how much you can borrow.

4. Decision / Agreement in Principle

 

Once we are happy with the assessment we will apply with the lender in principle for the amount we need, at this stage the lender will confirm they are happy to lend you the money based on their initial checks, the Decision / Agreement in principle (DIP / AIP) can be used to show estate agents that in principle you can obtain the finance required.

 

5. Mortgage Application

 

Once you have an offer accepted on a property we will submit a full mortgage application for the property, a property survey will be instructed and you will also need to provide details of the conveyancing firm you wish to use. note. you may need to make a payment for the survey when we submit the application.

 

6. Valuation

 

The Lender will appoint a company to carry out the valuation/survey and they will then arrange this directly with the point of contact to gain entry to the property (typically the selling agents).

7. Mortgage Offer

 

Once the valuation report has been received back to the lender the Mortgage underwriter will assess the valuation report along with the mortgage application, if they are happy with all of the information they will issue the Mortgage offer.

 

8. Final Steps

 

The Mortgage offer last 6 months which provides enough time for the conveyancing process and other potential sales in the chain to complete.

 

9. Client Care

 

Mortgage starts and we will ensure we stay in touch to review your Mortgage when the fixed term ends to ensure you are always keeping your payments affordable.

We understand how confusing the process can be and will ensure you understand the process all of the way

Get in touch today to find out how we can help you!

info@qmortgages.co.uk01727 530 145

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