STEP 1 – INVESTIGATE YOUR OPTIONS
First things first!
Speak with a Mortgage Broker to find out:
What are the costs of moving or buying?
How much you can borrow?
How much you can buy for?
How much your monthly repayments will be?
Get an Agreement In Principle from Faulkner Powell Mortgages.
STEP 2 – FIND YOUR DREAM HOME
This is the fun part. Get yourself out there and view as many properties as you can…
Arrange viewings with Estate Agents.
Negotiate on the property (don’t forget to start low. You can always go up but you can’t come down)
Agree a deal with the seller.
STEP 3 – TIME TO APPLY
We will give you advice and submit all the applications on your behalf.
Apply for your mortgage and protection.
Instruct your solicitors – we can help put you in touch with a local solicitor we work closely with to ensure everything runs smoothly.
Your Mortgage Broker will send off all your documents to the lender for them to review.
STEP 4 – MORTGAGE OFFER
The importance of dotting the i’s and crossing the t’s. Make sure there isn’t a stone left unturned. Once your valuation has come back and documents accepted by the lender, a full mortgage offer will be produced.
We will review your mortgage and protection arrangements with you to make sure you’re happy with everything.
STEP 5 – INTRODUCING YOUR CASE MANAGER
Now your mortgage has been offered, a copy will be sent to your solicitor to review.
Whilst this happens the solicitor will be busy collating all the information ready for your ownership.
We know you are extremely busy so by using Faulkner Powell Mortgages you’ll have a dedicated case manager who will provide you with regular updates from your solicitor and will help walk you through the often confusing legal process.
STEP 6 – EXCHANGE CONTRACTS
This is a vital part of the process and it’s all legally binding. We will help you get to this period as quickly as possible.
Before you exchange you’ll need to sign a mortgage deed, a contract and a transfer of equity form.
This is when your deposit is transferred to the solicitors and it becomes legally binding… Time to relax!
STEP 7 – COMPLETION
This is the most exciting part of the process… Time to take the first walk in your lovely new home!
This can happen either the same day as exchange or usually up to a week or so after exchange however, it might be longer depending on others in the chain or if it’s a new build.
Time to pick up the keys, put the kettle on and have a cuppa in your new home!
Then most importantly… Don’t forget to leave us a review and recommend us to friends and family!