Obtaining a mortgage is likely to be the biggest financial commitment that you will enter into so it is important that a lender can satisfy themselves that the amount being applied for is affordable. We want you to get the property that you have set your heart on but also be able to comfortably afford the monthly repayments to keep you there.
Initially we will look to get you an Agreement in Principal which is an indication of the lenders willingness to lend to you. Getting this is good as it will enable you to show evidence to Estate Agents and / or Sellers that you are well prepared and are well on your way to having the money needed arranged.
From there, once you have found a property we will then process your full mortgage application. Once underwritten the lender will instruct a valuer to go out and inspect the property. Once the value has been confirmed and is acceptable to the lender a mortgage offer is then produced which is the point when the funds have been fully agreed and will be ready for your Solicitor to drawdown when the legal conveyancing work has been completed.