YOUR QUESTIONS ANSWERED
How much can I borrow?
A mortgage is a big financial commitment. As a responsible lender, we think carefully about the amount you can borrow and the type of mortgage that will work best for you.
We will allocate a qualified mortgage adviser to take you through the whole process. They will be able to advise – through information you provide at a face-to-face or telephone interview – which product best suits your requirements.
Your income and outgoings are important in the decision-making process, and will help us determine how much you can borrow. That’s why we’ll ask you to provide payslips and bank statements to confirm your income. You’ll also need to think about your other financial commitments, as well as the impact any future rise in interest rates would have on your finances.
We will ask for your consent to research your personal financial data to help us assess your mortgage application so we can complete it as efficiently as possible.
What do I need to bring with me when I apply for my mortgage?
You’ll need to bring documentation which allows us to confirm your identity. This can include a passport, a driving license, recent payslips and bank statements. 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.
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 require 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. Where there is no Home Report, we will 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. When the solicitor has paid the agreed price and has received the required legal documents, you can move in!
Anything else I need to think about?
You will be required to take out Building Insurance.