The Mortgage Process
Getting a mortgage is a long-term financial commitment. Understanding interest rates and fees, as well as considering your circumstances and future plans, are key to choosing the right deal for you. To help you get to grips with the main factors you need to consider, we’ve put together this guide to explain the mortgage process.
During our consultation, we will discover which mortgage is most suitable for your needs, how much you can borrow and what it will cost each month. We may charge a fee dependent upon individual circumstances upto 0.5% of the mortgage balance
We research the whole mortgage market and recommend the best deal for you.
This proves you are credit worthy and helps with arranging viewings. We can arrange this for you.
Once accepted, we can help you find a solicitor to start the legal process and start collating your documents.
We will rerun the research and make a full mortgage application.
Thorough packaging of your application will assist the lender assessing your application.
The lender will instruct a valuation on your new home, if you would like a more thorough assessment, we can help with this.
The lender confirms that you can borrow the required loan and the property is valued correctly and suitable.
We will have discussed this with you throughout the process to ensure you, your family and home are covered. At this time, we would apply for your cover.
It is important Home Insurance is in place at this point as you are committed to going ahead with the purchase. We can arrange this for you.
Through regular contact with your solicitors, we will keep track of searches and raised enquiries. We will assist your purchase along until you get the keys to the door.
Select Mortgages UK Ltd is authorised and regulated by the Financial Conduct Authority ref 571378
© 2022 Select Mortgages. All Rights Reserved. Please note: Your home may be repossessed if you do not keep up repayments on your mortgage.