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.
If you’re a first time buyer, you need to allow time to get yourself mortgage ready. Start as soon as you can. Because the moment you begin preparing, you’re moving one step closer to the day you move into your new home.
1. Find out how much you can borrow
You will need to know what you can afford before you start– our calculator can give you a good indication.
2. 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.
3. Get a property valuation
We will give you the name of an approved valuer who can carry out an initial valuation for us before the loan is drawn down.
4. Arrange home insurance & life cover
At this stage, you should arrange the appropriate Life Assurance and Fire Insurance policies to protect both you and the property. These will need to be in place before you can draw down your mortgage. Ask us about our great value Home insurance and Life cover*.
5. Draw down your mortgage in stages
You can draw down your Mortgage in stages and we will issue the funds to your solicitor.
6. Final Stage payment
When the house is complete, your valuer can issue a final valuation and send this along with a certificate of compliance and cheque requisition from your solicitor to receive the final stage payment (usually 10% of the loan)