We will need to discuss your current mortgage, what you owe and how much you need to borrow to obtain your new home i.e. the difference that is needed to add to any equity you may have. From your existing mortgage paperwork we will be able to see what debt is outstanding, how much interest you are currently being charged, when your current mortgage deal ends, early repayment charges that are owed and if the mortgage is portable (can be transferred to another property).
Next we will sit down with you and discuss what you can borrow, work through an income and expenditure analysis to produce a monthly repayment schedule and help build a budget for your mortgage.
We will now work on your behalf to access a comprehensive range of products from across the market to find the right mortgage for you.
Decision in Principle (DIP)
Once we know what you can afford to borrow we will apply for a decision in principle from the lender. This document simply outlines what a lender is likely to lend you before you buy a property. You will be in a strong position to now offer on the property you want to purchase.
When you find the property you want to purchase you make an offer. Your mortgage in principle will help you to get this deal organised quicker as you will be in an advanced position to continue once your negotiation on price has been agreed.
When you find the property you want and the offer has been accepted you will need to instruct a solicitor who will represent you for the various searches, legal documents etc needed for the sales process. We can introduce you to a solicitor for the conveyancing process.
We will complete the application with you and apply for the mortgage on your behalf, dealing with any requests or enquiries into your finances.
After the contracts are exchanged. a date will be agreed for the completion of your purchase. On completion day, the balance of the agreed purchase price will be sent to the sellers solicitor and your new home is now yours, you are now free to collect the keys and enjoy your future in your new property.
Transparent and honest.
A mortgage is an important part of many peoples home purchase. Advice is key to getting you the most suitable deal for your home purchase if you need a mortgage.
We charge a fee for all our mortgage advice to cover the administration costs involved in working on your behalf to get you the right product. Our fees range from £99 to £750 depending on the product and complexity required.