As steps in life go, buying a home is certainly one of the big ones. But if you know what’s involved in the mortgage process, you can see it instead as a number of small, easily-managed steps. What’s more, you don’t have to take them on your own. We are here to help you, providing as much guidance and advice as you want or need. Every step of the way.
1. Find out how much you can borrow
You will need to know what you can afford before you start looking for the right investment – our calculator can give you a good indication.
2. Find your investment property
Once you’ve found the property, let us know the address and the purchase price.
3. Get your Letter of Offer and appoint a solicitor
We will send a loan offer pack to you and to your solicitor. It will contain your Letter of Offer, the European Standardised Information Sheet (ESIS) with full details of your mortgage and the terms and conditions of your loan.
4. Get a property valuation
We will give you the name of an approved valuer who can carry out a valuation for us before the loan is drawn down. We always recommend that you get a surveyor’s report as well, for your own peace of mind, which can uncover faults that aren’t easy to see. In some cases we may require that you get one, particularly if the house you’re buying is older.
5. Exchange contracts and pay your deposit
Your solicitor and the seller’s solicitor will tie up the details.
6. Draw down your mortgage
We will draw down your Mortgage and issue the funds to your solicitor to complete the purchase.