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Buying your first home is an exciting experience, but it can also give you much to consider and to decide upon.

Being well prepared will greatly help these considerations and help you reach better informed decisions. That's why we are here; we want to make the process as seemless as possible keeping you up to date along the way and ensure that evgerything is as stress-free as possible.

When meeting with an advisor, you will be informed of the process of purchasing a property, how much you can afford, what it will cost you and what will happen next.

We have created a brochure for First Time Buyers as a guide so they can understand the process but some of headlines of this are,

 

Step One - Find Out How Much You Can Afford

It’s important at a very early stage to do this crucially important piece of work. A professionally qualified mortgage advisor will be happy to help you work this out and find the mortgage that is best suited to your personal needs.

 

Step Two - Start looking for your home

Once you’ve an idea of how much it will cost, you can then seriously start to look properly.

 

Step Three - Find your property and make an offer 

Based on the previous discussions with your mortgage advisor regarding how much you can afford, identify the property you want and then make your offer.

Normally at this stage the estate agent will request a Decision in Principal or an Agreement in Principal to ensure you have passed the initial stages of the credit check with the lender. this will ensure that your offer on property will be approved subject to a full review by the lender. 

 

Step Four - Find the right mortgage for you 

You will now need to revisit your mortgage advisor. Speed is often of the essence at this point as things can move faster than you may think.

 

Step Five - Applying for Your Mortgage 

Arrange an appointment with your mortgage advisor.
Your advisor will normally apply for your mortgage on your behalf and they will have some detailed questions for you to answer. You will need to be able to supply various documents to validate your answers.
Your mortgage advisor will normally give you a detailed list of the things to bring along to this meeting.

 

Step Six - Your Mortgage Process 

Once your mortgage application has been submitted, you will need to liaise with your mortgage adviser regarding your mortgage offer and your solicitor who will keep you right on the legal side of things. 

When your mortgage has been approved, your lender will send you a document called a “mortgage offer“. This details the terms and conditions applying to your proposed mortgage. You will then need to decide if you wish to accept the offer which is generally done via your solicitor. 

Your adviser will review the mortgage offer with you and answer any further questions you may have on this to ensure you understand the document and all details are correct. 

 

Step Seven - Protection

It is important to discuss how you will protect your home and your mortgage should something unforeseen happen. This will happen when we discuss the Offer and ensure you are fully covered no matter what scenario occurs. 

 

Step Eight - Completion

Exchange contracts with the seller, which your solicitor will do for you.

Finally, completion: when you get the keys and your home is yours to start to enjoy!! 

 

Your home may be repossessed if you do not keep up repayments.

We offer free mortgage advice although on submission of an application this firm usually charges a fee. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

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