As soon as your solicitor has received the offer they will be able to finalise the purchase mortgage or remortgage.

A mortgage offer will be received, and a copy will be sent to your solicitor. This is a formal document and contains the total mortgage figure and any terms and conditions that may be associated with the loan.

A final check will be carried out, and will be followed by an offer.

Once the valuation has been made, it will be assessed by the lender, who will review your borrowing requirements. One of the key factors in determining the loan offered will you’re the Loan-to-Value figure.

The provided documentation will be reviewed and a valuation will be made; at this stage, any further requirements will be requested by the lender.

The next step is for you to submit a full mortgage application. This will require a number of supporting documents, including payslips and proof of ID.

After making your initial enquiry the first step in the mortgage application process is to make contact a lender. If you have made your enquiry through an Independent Financial Adviser (IFA), they will usually do this for you. The Read more…