What happens if I want to move house?
If you move home and want to transfer this mortgage to a new property, you can do this if the application satisfies our normal lending criteria.
What you’ll need for your application
We’ll allocate a qualified mortgage adviser to take you through the whole process. They’ll be able to advise which product best suits your requirements by the information you give them. You can have a face-to-face or telephone meeting/appointment – whatever works best for you.
We’ll need proof of ID - this can include a passport or a driving licence.
We’ll ask you for 3 months recent payslips and bank statements to confirm your income as your income and outgoings will help us determine how much you can borrow. You’ll need to think about the impact any future rise in interest rates would have on your finances.
We’ll also need information about the property you want to buy, including valuation details or Home Report, and how much your deposit will be.
We’ll need your consent to check your personal financial data to help us assess your mortgage application so we can complete it as efficiently as possible.
What happens after I’ve applied for a mortgage?
The next step is for us to make you a mortgage offer. Before we can do this, we’ll need a valuation of the property you want to buy. Most homes for sale need the seller to produce a Home Report, which is given to prospective buyers. This contains a survey report featuring information on the condition and valuation of the property. If there’s no Home Report, we’ll instruct an approved valuer to carry out a Lender’s Valuation. We’ll need to charge for this.
Conclusion of Missives and settlement is the final stage. This means that the buyer and seller are both committed to the sale. Your solicitor will keep in touch with you throughout the whole process.
Your solicitor will request the mortgage funds from us before transferring to the seller’s solicitor.
When the solicitor has paid the agreed price and has received the required legal documents, it’s all done and you can move in to your new home.