This is very important when purchasing a property and before you even start looking for a property. During this appointment you will discuss your personal and financial requirements with one of our experienced mortgage consultants. The appointment will normally last between 25-60 minutes depending on how many questions you have regarding mortgages and will include information gathering in order to provide you with the best advice. In most cases we are able to discuss your mortgage requirements at a time which suits you either over the telephone or face to face.
This is done after your initial appointment with us and is when a lender carries out a credit check to confirm if they are able to provide the mortgage for you and the maximum you are able to borrow. Elite Mortgage Finance can apply for an agreement in principle for you usually within 24 hours and in most cases this can be done on the same day.
Advantages of obtaining an agreement in principle before you start looking for a property.
You will know your maximum budget and will be able to look for property within that price range.
This will help speed up the mortgage process.
You will be taken more seriously by all estate agents when arranging viewings.
You will know roughly what your mortgage payments will be so you will be able to budget.
If there are any issues with you obtaining a mortgage this will be discovered early on so we will be able to resolve this issue as opposed to finding your dream home and then being told that you are unable to buy it.
This part is down to you. The best thing to do is to look at as many properties as possible within your price range. This will give you an idea of what your money can buy.
It is also good to register with all the Estate Agents in the area that you are looking in as they will inform you of new property for sale as soon as they are available. Most of the best properties sell before they even get put on the internet.
When you have found a property you want to buy you can make an offer to the Estate Agent. This does not need to be the asking price and in some cases you may be able to offer up to 8% less than the asking price and work your way up.
When your offer has been accepted you need to apply for your mortgage. Contact us as soon as possible and we will search the whole mortgage market to find the best deal for your personal circumstances. We use a state of the art sourcing system which is updated twice a day to make sure that you will be getting the best deal. We will complete the application for you and chase the lender to make sure you get the keys to your property as soon as possible.