Excited, searching and ensuring that you have covered all the bases? We get it, as buying a property is one of the most exciting yet daunting things we all go through, especially when it is for the very first time. Gaining support and guidance through this process is key – whilst in those early stages of getting on the property ladder! So what is your dream – maybe a quaint terraced house in the country. or an amazing London centric flat? Or maybe something with some potential to add some value too…
We have built a Top 10 list of stages
- Get a clear idea of how much income you earn and obtain your documents for both estate agents, solicitors and your mortgage broker.
- Provide a realistic view of deposit – and remember mortgage lenders have a range of solutions, both with using your own money or a close family member as a gift. There are also some “family assist” options, so even when 95% mortgages are not available – we can explore your wider family.
- Have a good and open discussion with us – so we can discuss your goals, and draw a frame-work into the plan. Understanding what type of property you wish to buy, and a “max borrowing” level – is really important.
- Instruct JWD to run a Decision in Principle for you, once the research we show you is with you. This can be the same week or in a few months. Never feel rushed into making a decision as it is a really personal and financially large step you are making.
- When you find a property, send us a link so we can check the property through with the lender for you. Sometimes a type of property changes the amount of mortgage value available to you in “loan to value” terms, with new build flats and unique property types capped lower with some lenders.
- Ensure documents are sent over in the best quality possible – so that we and the lender can accept and understand them.
- Decide the right mortgage product for you – between 2, 3 and 5 year fixed rates, with other types available such as discounted variables and tracker rates. Sometimes, in more bespoke cases – it is a stepping stone to achieve what you really wanted in a few years time.
- Once we apply for you we estimate 15 – 20 working days on average to achieve a mortgage offer. Some lenders come out quicker than this and some longer – it depends on the “risk” of the case as well as the climate when you apply. For example, COVID made lenders really strict about Self-Employed cases being manually checked over – which delays the timescales somewhat.
- We provide more than just a mortgage – with a solicitor panel, contacts in wealth management, and a bespoke advice service on life cover, income protection and critical illness policies – but the only legal insurance you need on freehold houses is “buildings” cover.
- Keep talking to us – as it is a nervous situation buying a property for the first time, and we are passionate to help you achieve that dream goal of property ownership. There does need to be some element of being realistic, as sometimes the amount you want or the timing of the enquiry isn’t right. We check every lender for you – but where adverse credit is involved we can look to help, but it does affect which lender is available & the cost of the mortgage payment.
a deal on the right Mortgage.
At no cost to you.