Whole of Market Mortgage Advice
How Does It Work?
– First let’s have a quick conversation about what you want to acheive and what your current situation is. With just some basic information I will be able to outline the best mortgage option or options available to you that will help you to acheive your goals. Once I understand your position I will compare the whole of the mortgage market in order to be able to present you with some mortgage illustrations that will give you a good idea of what you might be able to borrow and how much it will cost each month.
– Should you like one or some of the mortgage proposals I present to you we would then need to apply for a decision in principle (DIP) from the chosen lender. To do this we must first complete what is know as a mortgage fact find, which will take around an hour and will cover things like your current employment situation, credit or loan commitments, any adverse credit history, current housing position, what you want to achieve with the mortgage, what kind of mortgage you want and a whole host of other details that the prospective lender would want to know.
– Once we have agreed on the best mortgage for your very particular set of circumstances the next step is to get a decision in principle (DIP) from the chosen lender. And now that we have completed the mortgage fact find you will never have to complete any more questionnaires or mortgage applications again as I will have all the information I need to do everything for you so I will complete the application on your behalf.
A decision in principle is written confirmation from the bank that they are, in principle, happy to lend to you and how much you can borrow. A DIP is not a guarantee of a mortgage but the mortgage lender is basically saying that, based on the information provided so far, they would be happy to give you a mortgage for your home purchase or remortgage. And, assuming you are able to evidence everything we have covered in the fact find (payslips, bank statements etc) then there is a high chance you will get the mortgage.
– Once you have a decision in principle it is time to move to full application. Again, my admin team and I will do everything for you so there’s no need to worry about it. We have all the information we need to submit the application but you will need to supply us with the evidence before we can proceed. You will receive a welcome pack explaining a bit more about the process and this will include a list of the proof we need such as:
Proof of ID
Proof of address
Payslips or tax returns
And anything else that will support your application.
Once we are in receipt of the documents we will submit the application on the same day and the ball will well and truly be rolling.
– Assuming all the evidence supplied accurately supports the application then a mortgage offer can be forthcoming in a relatively short space of time, even as quick as 1 or 2 weeks in some instances but the offer will be subject to the conveyancing solicitor being happy with everything and that is where things can come unstuck.
And this is where my extensive knowledge of the very many pitfalls that might befall a property pruchase or a remortgage can prove invaluable. I will gladly help you to manage the various interested parties such as estate agents, surveyors, solicitors and underwriters ensuring you have the best possible chance of a succesful mortgage outcome.
– On average it takes around 6 weeks to complete a house purchase or remortgage but it can be done much quicker if all parties are willing and I’ve also known it to take years in some extremely complex cases but hopefully, with my help, it has been a relatively pain free experience and you are now ready to complete your mortgage and get your money!
Great help and advice from Jean Pierre. Successfully remortgaged despite my problems. A first class service
The advice was very helpful and my situation was not easy. Thank you JP for all your help.