Getting a mortgage is important, but it doesn't have to be complicated. We'll handle every step for you, deal with all the paperwork and take away all the hassle. Here's a quick overview of how the process works and how we will help you:
- We'll talk to you in detail about your situation and budget to work out the maximum you can borrow. This will help make sure you're looking for properties in the right price bracket.
- We'll explain all the documentation we'll need to put together to support your application.
- Once you've found a property, we'll find your ideal mortgage and manage the application process for you. We'll make it as simple as possible.
- The lender then carries out a survey to assess the property, and their underwriter will review it all to confirm it's affordable for you. This might include asking for a reference from your employer or accountant.
- Once the lender's happy with all the checks, they'll make a formal mortgage offer. Then we'll help you complete the legal details and exchange contracts with the seller. We'll be there to talk you through every single piece of paper so you don't need to worry about a thing.
Want more detail about the process?
It's best to speak to us before you start looking at properties. We can help you narrow down your search by focusing only on homes within your price range. This will save you time so you find your perfect place quicker.
Here's what will happen when you first meet one of our advisers:
- We'll get to know you and how much you already understand about mortgages.
- We'll pull together all the information and documents a lender will need from you, ready for when you make an application.
- With your permission, we'll carry out a credit check with the lender to produce an Agreement in Principle (AIP).
Top tip: You're in safe hands
We know that making multiple credit checks can affect your credit rating, but don't worry, we are experts in this area. We'll only do what's necessary to make sure you get the best possible mortgage.
Once you've got your AIP, you can start looking for properties with total confidence. You'll know exactly what your budget will cover and what types of home lenders will approve a mortgage for.
Top tip: We're with you all the way
Bear in mind that not all lenders approve mortgages on all types of property. Chat things through with us regularly during your property search and we'll make sure you stay on the right track.
Found a great property and had an offer accepted? That means it's time for another meeting with us. Here's what we'll cover:
- We'll recap all the information we put together when we first met. Things move quickly now, so it's important we have all the right documents to hand.
- Then we'll go through the fine detail about your lender's policy to give you complete confidence about going forward. The great thing about working with Alexander Hall is that we've got excellent relationships with lenders and we can often speak directly to them to make sure everything is in order. This means no surprises and a much better chance of success.
- We'll submit the mortgage application on your behalf. As with everything we do, you don't need to worry about complex paperwork - we'll handle every detail for you.
- We'll double and triple check your application to make sure that it's as strong as it can possibly be. Once we submit it to the lender, it goes to their underwriter. It's their job to make sure all the documents are in order. They'll also organise a mortgage survey to check the property is something they're happy to lend money for.
Top tip: We've got great connections
Because we've built strong relationships in the industry, we can sometimes chat directly to your underwriter. This is a huge help for you because it means we can fine-tune the application to maximise your chances of success.
You'll get a mortgage offer once the lender is happy with your application. The time it takes depends on the lender, but in general it tends to be quicker when you've got a broker like us on your side to work directly with them. We make sure they've got everything they need to make a decision.
Some mortgage brokers finish working with you once you've got your offer. We do things differently at Alexander Hall. We'll stay in touch with you, your estate agent, solicitor and surveyors all the way through to completion. We'll keep in contact with you after that too, making sure that as and when your needs change, your deal remains the most suitable and competitive on the market.
